Pjsc Novor. S Regulatory News (NCSP)

NCSP Group's consolidated cargo turnover totaled 34.1 million tons in January-March 2020

April 30, 2020

 NCSP Group (LSE: NCSP, MOEX: NMTP) informs that the normalized cargo turnover of NCSP Group for January-March 2020 grew by 0.9% year-on-year. NCSP Group's cargo turnover normalized indicators for 2019: turnover through NGT LLC and Berth No. 3 from January 1, 2019 to May 1, 2019 is not taken into account in the transshipment volume.

Key drivers

 Liquid cargo

In January-March 2020, transshipment of liquid cargo at NCSP Group terminals was up by 6.7% or 1,767 thousand tons on par with the same period in 2019, and amounted to 28,307 thousand tons.

Crude oil transshipment for 3 months of 2020 increased to 17,645 thousand tons, by 7.4%, (or 1,216 thousand tons) year-on-year, which is 4.7 p.p. higher than the industry growth rates. Oil products turnover increased to 10,355 thousand tons, 5.3%, (or 517 thousand tons), which is 1.5 p.p. higher than the industry growth rates.

The volume of vegetable oil transshipment grew by 76.7% to 158,000 tons.

Turnover of liquid fertilizers (UAN) totaled 149,000 tons, below the figure for the previous-year period (-18.5%).

Bulk cargo

In January-March 2020, the volume of bulk cargo transshipment at terminals of NCSP Group amounted to 1,579 thousand tons, which is close to the result for Q1 2019 (-1.4%).

The volume of iron ore raw materials transshipment increased by 27.3% or 214 thousand tons and reached 997 thousand tons. Coal cargo turnover amounted to 341 thousand tons.

Transshipment of chemical cargo was up by 25,000 tons (+13.1%). The volume of raw sugar transshipment totaled 5 thousand tons. This drop was due to the reorientation of beet sugar exports from Russia to Asian CIS countries amid the following circumstances:

 General cargo

In January-March 2020, transshipment of general cargo at terminals of NCSP Group decreased by 29.2%, or 1,197 thousand tons, relative to the result of the first quarter last year, and amounted to 2,895 thousand tons.

The reduction in volumes was mainly due to the drop to 2,553 thousand tons (-32%, or by 1,202,000 tons) in ferrous metals and cast iron turnover amid unfavorable conditions in the foreign markets in the segment of finished products.

 Transshipment volumes of non-ferrous metals reached 284,000 tons, an increase of 45,000 tons (+18.8%) thanks to strong activity in the aluminum market.

Turnover of timber and perishable cargo comprised 32,000 tons and 26,000 tons, respectively.

Container turnover

NCSP Group's container transshipment through its berths totaled 1,215,000 tons or 134,000 TEU in January-March 2020, which is 19.5% less in tons or 16.3% less in TEU compared to the previous year against the background of reduced turnover of freighted import containers.

 Other cargo

In January-March 2020, the volume of other cargo transshipment at NCSP Group terminals made up 97,000 tons, which is 39,000 tons more against the same period in 2019.

NCSP Group's cargo turnover in January-March 2020/2019 (thousand tons)

NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC Transneft. 

NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as global depositary receipts (NCSP). NCSP Group's cargo turnover in 2019 amounted to 142.5 million tons. The Group's consolidated revenue as per IFRS totaled USD 951 million in 2018. NCSP Group is comprised of PJSC Novorossiysk Commercial Sea Port, Primorsk Trade Port LLC, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, IPP LLC, Baltic Stevedore Company LLC, and JSC SFP. PJSC NCSP and PJSC Transneft own NCS LLC on a parity basis.

For more information, please contact:For press: MSidorov@ncsp.com