Last checked at 18 Feb 2013 14:22
PRESS RELEASE
NCSP Group Comments on Financial Information
18.02.2013
Novorossiysk Commercial Sea Port Group ("NCSP Group" or "the Group") (LSE: NCSP, Moscow Exchange: NMTP), following unauthorised public statements made by a member of the Group's Board of Directors on 18 February 2013, provides certain information regarding preliminary unaudited financial results for the full year 2012 based on management accounts.
Based on preliminary unaudited management accounts, NCSP Group's revenue for FY 2012 amounted to RUB 32 billion (US$ 1.03billion) and the Company's EBITDA was RUB 18.3billion (US$ 589 million).
Investors should not rely on this information. The FY 2012 financial information previously disclosed and disclosed here is preliminary and based on internal management accounts, has not been converted to IFRS or audited and may be significantly adjusted during the course of the preparation of the Group's audited IFRS financial statements.
NCSP Group plans to disclose its full audited IFRS financial statements for the year ended 31 December 2012 in April 2013. The publication date of the full audited IFRS financial statements will be announced in due course.
About NCSP Group
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). 50.1% shares of PJSC "NCSP" belong to Novoport Holding Ltd, the beneficial owners of which are OJSC "Transneft" and Summa Group. NCSP Group cargo turnover in 2011 totalled 157 million tonnes. Consolidated revenue according to IFRS totalled $1,050 million and EBITDA was $550 million, in 2011. NCSP Group consolidates the following companies: PJSC "Novorossiysk Commercial Sea Port", LLC "Primorsk Trade Port", PJSC "Novorossiysk Grain Terminal", OJSC "Novorossiysk Ship Repair Yard", OJSC "NCSP Fleet", OJSC "NLE", OJSC "IPP", CJSC "Baltic Stevedore Company" and CJSC "SFP".
Contacts:
Media relations: KSenko@ncsp.com
Investor relations: MShchur@ncsp.com
All statements in this press release, other than historical facts, that address company's business are forward looking statements. The company has tried to identify some of those forward-looking statements by using the words "may", "will", "would", "should", "expect", "intend", "estimate", "anticipate", "project", "believe", "seek", "plan", "predict", "continue" and similar expressions or their negatives. Although, NCSP believes that expectations expressed in such forward looking statements are based on reasonable assumptions, such statements should not in any way be construed as guarantees of future performance. Factors that could cause developments to differ materially from those expressed include overall market conditions. The company is subject to specific risks inherent in the stevedoring business and general economic and business conditions. Any such forward-looking statement or number in this press release may be changed, depending on market conditions and other relevant developments. The company, its subsidiaries and each of its and their directors, officers, employees, affiliates and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this presentation and any change in the company's expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation