Last checked at 12 Apr 2012 17:30
Press-release
Rado Antolovic: "NCSP Group's share in total cargo turnover of Russian sea ports exceeded 32% in the first quarter of 2012"
12.04.2012
NCSP Group (LSE: NCSP, MICEX: NMTP) reports consolidated operating results for the first quarter of 2012.
NCSP Group's total cargo turnover in the reporting period amounted to 41.1 million tons which represents an increase of 3.9 million tons or 10.4% versus the same period of the previous year.
Total cargo turnover of Russian sea ports according to Association of Russia Sea Ports amounted to 127.3 million tons in the first quarter of 2012 which represents an increase of 5.3%.
Acting CEO of PJCS NCSP Rado Antolovic commented: "New management strategy to improve efficiency of operations processes yielded initial results. Although during the first quarter of 2012 transshipment was shut down due to extremely bad weather conditions from 14 to 30 days depending on the type of cargo, the Group was able to exceed the industry average growth rate by almost 2 times".
"We are currently seeing recovery in ferrous metals and timber, the demand for which fell significantly in 2011. Growth rate in turnover of ferrous metals, one of our most profitable cargos, almost twice exceeded the industry average", - Rado Antolovic added.
Growth in general cargo turnover in the first quarter of 2012 totaled 0.6 million tons or 24.5%. Growth was mainly attributed to an increase in turnover of ferrous metals by 0.6 million tons (32.6%), in timber by 9.2% (+ 13 thousand tones) and in other cargoes by 23 thousand tons which more than offset the decline in non-ferrous metals (-11 thousand tons) and perishable cargoes (-39 thousand tons).
In the first quarter of 2012 liquid cargo volumes increased by 1.8 million tons or 5.7% versus the same period of last year.
Crude oil transshipment by NCSP Group in the first quarter of 2012 totaled 28.5 million tons, which represents an increase of 5.2% compared to the first quarter of 2011. This growth is attributed to the increase in volumes of Primorsk Trade Port Ltd by 1.7 million tons or by 10.7%.
Volumes of oil products transshipment across the Group increased by 5.9% or by 0.3 million tons. The total volume of oil products handled during the reporting period amounted to 5 million tons, of which 1.8 million tons was attributed to diesel transshipment by Primorsk Trade Port Ltd.
According to Rado Antolovich "Growth of liquids turnover by 5.7% in the first quarter was achieved despite the reduction in handling of this type of cargo by Russian ports by 1.9%1».
In the first quarter of 2012 the Group handled 2.2 million tons of grain. March 2012 grain handling volumes exceeded 1 million tons, which represents the second highest monthly volume historically.
According to Rado Antolovic "In March 2012 NCSP Group's management eliminated the fallback against 2011 container handling schedule in Novorossiysk, which accrued during bad weather conditions. Volume of containers handled in Novorossiysk amounted to 109 thousand TEU, which is 2,1% more than in 2011".
1 According to Association of Russia Sea Ports.
NCSP Group Cargo Turnover in January-March 2012 (thousand tons)
January - March | Change, thsd. tons | Change, % | ||
2012 год | 2011 год | |||
Cargo turnover, total | 41 114,2 | 37 245,2 | 3 869,0 | 10,4% |
Liquid cargo, total | 33 713,5 | 31 894,0 | 1 819,6 | 5,7% |
Crude oil | 28 483,1 | 27 081,5 | 1 401,5 | 5,2% |
Oil products | 5 017,3 | 4 737,1 | 280,2 | 5,9% |
UAN | 60,5 | 75,4 | -14,9 | -19,7% |
Seed oils | 152,6 | 0,0 | 152,6 | 0,0% |
Bulk Cargo, total | 3 370,8 | 1 855,7 | 1 515,1 | 81,6% |
Grain | 2 293,9 | 68,3 | 2 225,6 | 3260,5% |
Mineral fertilizers | 341,1 | 602,5 | -261,4 | -43,4% |
Sugar | 109,7 | 346,3 | -236,6 | -68,3% |
Iron ore and ore concentrate | 564,7 | 812,1 | -247,4 | -30,5% |
Scrap Metal | 8,5 | 23,6 | -15,1 | -64,0% |
Cement | 52,9 | 2,9 | 50,0 | 1724,1% |
General cargo, total | 2 802,6 | 2 251,8 | 550,8 | 24,5% |
Ferrous metals | 2 292,8 | 1 728,6 | 564,2 | 32,6% |
Timber | 153,4 | 140,5 | 12,9 | 9,2% |
Timber. thsd. cubic meters | 278,9 | 255,5 | 23,4 | 9,1% |
Non-ferrous metals | 284,0 | 294,5 | -10,5 | -3,6% |
Perishable cargo | 37,9 | 76,7 | -38,9 | -50,7% |
Other | 34,5 | 11,4 | 23,1 | 202,7% |
Containers | 1 227,3 | 1 243,8 | -16,5 | -1,3% |
Containers | 1 227,3 | 1 243,8 | -16,5 | -1,3% |
Containers, thsd. TEU | 149,2 | 153,0 | -3,8 | -2,5% |
For your convenience, information on NCSP Group's monthly cargo turnover for 2010-2012 is available in excel format following the link below
About NCSP Group
NCSP Group is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).50.1% shares of PJSC NCSP belong to Novoport Holding Ltd, beneficiaries owners of which are JSC "Transneft" and Ziyavudin Magomedov (Summa Group). NCSP Group cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $403.8 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Oil Terminal Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC NLE, OJSC IPP, and Baltic Stevedore Company Ltd.
For more information please contact:
For more information please contact:
Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;
Investement Community: MGrigoriev@nmtp.info