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27.03.2020 NCSP Group Consolidated Financial Results for 12 months 2019

NCSP Group (LSE: NCSP, MOEX: NMTP) hereby announces its consolidated operating and financial results for the 2019 Financial Year prepared under International Financial Reporting Standards (IFRS).

NCSP Group transshipment of cargo during 12 months 2019 totaled 142,5 million tons, including 114,4 million tons of liquid cargo, 9,0 million tons of bulk cargo, 13,0 million tons of general cargo, 6,0 million tons (638 thousand TEU) of containers and 0,2 million tons of other cargo.

NCSP Groups consolidated revenue for the 2019 year totaled $866,4 million, which is $84,8 million or 8.9 % less than for the 2018 year.Revenue deviation during 2019 was due to the loss of revenue from grain transshipment ($121,2 million) and partially offset by an increase in revenue from oil and petroleum products transshipment ($46,6 million).

Groups EBITDA and net profit in the reporting period totaled $646,5 million and $943,3 million respectively. The increase in profit for the period was due to the sale of a share in the share capital of LLC NGT.

Cash and cash equivalents as at 31 December 2019 totaled $433,5 million. Net debt reduced to $387,1 million.

Net debt to EBITDA ratio improved to 0,60 versus 1,26 at the beginning of the year.

NCSP Group Key Financial Metrics for 12 months 2019

(thousand US dollars)

12m 2019

12m 2018

Change

Change %

Revenue

866 431

951 253

-84822

-8.9%

EBITDA*

646 480

669 433

-22953

-3.4%

EBITDA Margin

74.6%

70.4%

4.2%

Profit for the period

943 280

268 111

675 169

251.8%

(thousand US dollars)

31.12.2019

31.12.2018

Change

Change %

Debt (incl. lease)

820 581

1017 042

-196461

-19.3%

Cash and equivalents

433 480

172 865

260 615

150.8%

Net debt

387 101

844 177

-457076

-54.1%

Net debt / EBITDA

0,60

1,26

*Management accounts

NCSP Group consolidated financial statements in compliance with IFRS for the 2019 year is available for downloading at: http://nmtp.info/en/holding/investors/reporting/msfo/

The Group NCSP sold to LLC Demetra 1 (the company of the VTB Group) 99.9968% of the share in the subsidiary of LLC NGT for $547,8 million. Ownership of the share passed to LLC Demetra 1 on 6 May 2019.

About NCSP Group

NCSP Group is the largest port operator in Russia and the third largest in Europe in terms of cargo turnover in 2019. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2019 totaled 142,5 million tones. Consolidated revenue to IFRS in 2019 totaled USD $866,4 million. NCSP Group consolidates the following companies: PJSC NCSP, LLC PTP, JSC Novorossiysk shiprepair yard, JSC FNCSP, JSC NLE, IPP Ltd, LLC Baltic Stevedore Company and LLC SFP.

Contacts

Public Relations: PR@ncsp.com

Investor Relations: IR@ncsp.com

 

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