Pjsc Novor. S Regulatory News (NCSP)

13 Nov 2009 07:11



Press-release

NCSP Operating Results for January-October 2009

November 13, 2009

The Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS and MICEX: NMTP) is hereby reporting its consolidated operating results for January - October 2009. In the reporting period the NCSP Group cargo turnover amounted to 71,867.0 thousand tons, which exceeds the volume for the same period of 2008 by 5.6% or by 3,825.8 thousand tons.

During this period the cargoes that demonstrated positive growth rates recorded an aggregate increase of 8,161.7 thousand tons, with 76.9% of this volume coming from additional volumes of grain, iron ore and ore concentrate, as well as diesel fuel exported via the specialized terminal of OJSC IPP. The aggregate decrease of the cargoes that demonstrated negative dynamics stood at 4,355.9 thousand tons, with 87.2% of this decrease resulting from smaller volumes of imported cargoes - containers, cement, and sugar.

The segment of Liquid Cargoes showed an aggregate growth of 2,320.8 thousand tons, or 5.0% during the ten months of 2009 versus the same period last year. During this period the volume of diesel fuel handled at the OJSC IPP terminal increased by 963.2 thousand tons, or 24.1% as compared to January - October 2008.

The volume of Bulk Cargoes in January - October this year increased by time and a half, or by 4,294.1 thousand tons versus the same period in 2008. Grain handling, growing by 68.2%, together with iron ore volumes, which totaled 2,348.1 thousand tons or 3.3% of the total cargo turnover of the NCSP Group, remain the key growth drivers in this segment. At the same time the volumes of mineral fertilizers also increased by 20.4% year on year.

In the reporting period the volumes of General Cargoes amounted to 9,180.7 thousand tons, which is only 2.2%, or 210.0 thousand tons less than the volumes in the same period last year. Meanwhile the volumes of ferrous and non-ferrous metals has almost reached the level of January - October last year. Small negative trend in the General Cargo segment is conditioned by a 127.3 thousand tons or 14.4% decline in timber volumes year on year. Meanwhile in October this year handling of timber reached 95.9 thousand tons versus 59.3 thousand tons in September, growing by 61.7% month on month.

During the ten months of 2009 Container Traffic amounted to 192.0 thousand TEU, reducing by 38.9% as compared to the relevant period last year. On the contrary, in October versus September 2009 container traffic has increased by 20.5% thanks to growing throughput at the NLE and BSC terminals.

* 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