10 Aug 2010 08:52
Press Release
NCSP Group Operating Results for January - July 2010
10.08.2010
Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS and MICEX: NMTP) hereby reports its consolidated operating results for January - July 2010: in the reporting period NCSP Group's cargo turnover amounted to 50 090.1 thousand tons, which is by 1.0% (511.8 thousand tons) less than the cargo turnover in the same period last year.
Alexander A. Ponomarenko, Chairman of NCSP Board of Directors, commented on the operating results for January - July 2010, saying: "Results of the 7 months of this year are close to last year's cargo volumes in the same period, in spite of a downturn in iron ore export in the first half of the year. It should be specially mentioned that the volume of container cargoes totals 241.9 thousand TEUs, already exceeding the container traffic in 12 months of 2009."
"The Russian grain export ban declared by the government from August 15, 2010, will adjust our planned figures for this type of cargo in the second half of this year. As after the introduction of grain export duties in the first half of 2008, we will seek to attract transit cargo flows, and possible idle time period will be used for preventive repairs of equipment, as needed. We expect a possible negative impact of the grain export ban on the Group's financial results to be moderate" - added Alexander A. Ponomarenko.
In the reported period the total amount of cargoes that demonstrated a positive growth rate recorded an aggregate growth of 1 943.6 thousand tons versus January - July 2009. Growing volumes of container cargoes, mineral fertilizers, raw sugar and timber contributed 78.3% of this increase. On the other hand, the aggregate decrease of the cargoes that demonstrated a negative dynamics totaled 2 455.3 thousand tons, which is by 87.6% conditioned by shrinking volumes of only two cargoes - iron ore and crude oil.
Meanwhile, the growth of crude oil handling in July from June this year by 1 599.7 thousand tons (57.6%) allowed the port to handle 24 870.7 thousand tons in the reported period, which is only 3.7% less than the result in the same period last year. The volumes of oil products and liquid fertilizers in the reported period virtually remained stable at the level of January-July 2009.
Bulk cargo volumes in the reported period totaled 8 308.9 thousand tons, down 5.4% from the same period last year due to reduction in iron ore export. Other bulk cargoes - mineral fertilizers, raw sugar and grain demonstrated a positive growth rate, increasing by 36.9% (319.8 thousand tons), 28.0% (270.7 thousand tons), 3.9% (197.8 thousand tons) respectively.
General cargo handling in the reported period grew by 4.1% (266.5 thousand tons) versus January-July 2009. Non-ferrous metals volumes went up by 97.3 thousand tons (18.0%), timber - up by 161.9 thousand tons or 287.4 cubic meters (30.1%), and perishable cargoes - up by 76.8 thousand tons (95.6%).
Container traffic totaled 241.9 thousand TEU in the 7 months of 2010, exceeding the results of the same period last year by 75.0% (103.6 thousand TEU).
NCSP Group Operating Results for January - July 2010
| January - July 2010 | January - July 2009 | Change | |
thousand tons | thousand tons | thousand tons | % | |
Cargo turnover, total | 50 090.1 | 50 601.9 | -511.8 | -1.0% |
Liquid bulk, total | 32 940.9 | 34 015.4 | -1 074.4 | -3.2% |
Crude oil | 24 870.7 | 25 827.0 | -956.2 | -3.7% |
Petroleum products | 7 687.2 | 7 723.0 | -35.8 | -0.5% |
UAN | 269,2 | 257.7 | 11.5 | 4.5% |
Seed oils | 113.8 | 207.6 | -93.8 | -45.2% |
Bulk, total | 8 308.9 | 8 781.6 | -472.7 | -5.4% |
Grain | 5 208.4 | 5 010.6 | 197.8 | 3.9% |
Mineral fertilizers | 1 187.3 | 867.5 | 319.8 | 36.9% |
Sugar | 1 237.8 | 967.1 | 270.7 | 28.0% |
Iron ore | 675.4 | 1 869.8 | -1 194.4 | -63.9% |
Cement | 0.0 | 66.6 | -66.6 | -100.0% |
General cargo, total | 6 777.6 | 6 511.2 | 266.5 | 4.1% |
Ferrous metals | 5 127.8 | 5 236.3 | -108.5 | -2.1% |
Timber | 703.1 | 541.2 | 161.9 |
|
Timber, thousand cubic meters | 1 243.9 | 956.4 | 287.4 | 30.1% |
Non-ferrous metals | 638.1 | 540.8 | 97.3 | 18.0% |
Perishable cargoes | 157.0 | 80.3 | 76.8 | 95.6% |
Other | 151.6 | 112.6 | 39.0 | 34.6% |
Containers | 2 062.6 | 1 293.7 |
768.9 |
|
Containers, thousand TEU | 241.9 | 138.3 | 103.6 | 75.0% |
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group's consolidated cargo turnover in 2009 totaled 86.5 million tons. Consolidated revenue to IFRS in 2009 totaled $675.1 million and net profit $252.2 million.
NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares).
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel.: +7 (495) 783-5434; IR@nmtp.info