Pjsc Novor. S Regulatory News (NCSP)

20 May 2009 09:24

NCSP Operating Results for January-April 2009

20 May 2009

Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces consolidated operating results for January-April 2009: in the reporting period cargo turnover of NCSP totaled 28,251  thousand tones, which by 2,917 thousand tonnes or by 11.5% exceeds the turnover of the same period last year.

Volumes of grain handling in January-April 2009 increased almost fourfold over the same period last year and totaled 3,081.5 thousand tonnes. Grain handling has been growing steadily from the start of 2009. In April compared to May 2009 it increased by 6.6%.

In the reporting period handling of iron ore and ore concentrate as well as pig iron totaled 1,041 thousand tonnes and 95.5 thousand tonnes respectively, which is many times over the volumes of the same period last year. The share of iron ore and ore concentrate in NCSP Group's total cargo turnover increased from 0.2% to 3.7%.

Crude oil and oil products volumes in January-April 2009 versus same period in 2009 increased by 735.4 thousand tonnes (5.3%) and 694.2 thousand tonnes (19.7%) respectively. At the same time the share of crude oil in the Group's total cargo turnover decreased from 54.7% to 51.6% while the share of oil products has grown from 14% to 15%.

Volumes of non-ferrous metals handling in the reporting period increased by 48.1 thousand tonnes  (15.6%) compared to January-April 2008. Also the volumes of mineral fertilizers in January-April 2009 increased by 30.8 thousand tonnes (6.5%) compared to same period of 2008. Handling of perishable goods in January-April 2009 increased by 71.7% versus same period last year.

Handling of ferrous metals in the reporting period decreased by 6.5% versus same period last year, and totaled 2,788.5 thousand tonnes.  On the other hand, ferrous metals volumes show positive dynamics in the current year, growing by 95.2 thousand tonnes (13%) in April versus March 2009.

Overall container traffic of the Group in January-April 2009 dropped by 42 thousand TEU (35%) versus  same period last year. Baltic Stevedoring Company in Kaliningrad region experiences the sharpest drop in volumes resulting from the slump of industrial production in the region. Container traffic at NCSP's  terminals in Novorossiysk decreased by some 21% versus same period last year.

Timber handling in January-April 2009 totaled 430.5 thousand cubic meters, which is 43% less than same period last year.

In the reporting period volumes of UAN liquid fertilizer, sugar, scrap metal, cement, and other cargo have also decreased by 596.3 thousand tonnes (53.4%) in total versus January-April of 2008.

   NCSP Group Operating Results for January-April 2009

* Due to decrease of average container weight and substantial difference of this indicator between Group's three terminals, starting from January 2009 container traffic in tonnes is reported according to bills of lading data, and not by indicative tonnes/TEU ratio applied previously on the basis of average container weight at PJSC NCSP terminal.

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group's consolidated cargo turnover in 2008 totaled 81.6 million tonnes. Consolidated revenue to IFRS for the 2008 totaled $653.777 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 Ship Repair Yard, 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