ÐortsÅurope:NCSP Group’s Consolidated 2018 financial results
Novorossiysk, Russia (PortSEurope) April 3, 2019 – NCSP Group has announces its consolidated operating and financial results for the 2018 .
Transshipment of cargo for 2018 totalled 140.21 million tons, including 100.54 million tons of liquid cargo, 17.58 million tons of bulk cargo, 14.96 million tons of general cargo, 6.121 million tons (620,000 TEU) of containers and 997,000 tons of other cargo.
Consolidated revenue increased by $51.42 million or 5.7% year-on-year and totalled $951.25 million.
The Group’s EBITDA and net profit in the reporting period totalled $669.43 million* and $268.11 million respectively. The decrease in net profit is mostly due to negative foreign exchange differences.
Cash and cash equivalents at the end of 2018 totalled $172.86 million. Net debt reduced to $844.177* million.
Net debt to LTM EBITDA ratio improved to 1.26* versus 1.64* as at the beginning of the year.
* Management accounts
Additionally inform that the published consolidated financial statements for the year ended 31 December 2017 contain an error. The nature of the error and its impact on the financial statements is presented in the consolidated financial information for the year 2018 in Chapter 4 – Correction of a material error.
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2017. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, LLC Novorossiysk Grain Terminal, JSC Novorossiysk shiprepairyard, JSC FNCSP, JSC NLE, LLC IPP, LLC Baltic Stevedore Company, and JSC SFP.
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