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29 May 2008 07:35
Press release
Novorossiysk Commercial Sea Port raises its share in IPP from 72,65% to 95,22% under the strategy aimed at further consolidation of stevedore assets
May 29, 2008
NCSP
Novorossiysk Commercial Sea Port (NCSP) is Russia's largest sea port operator by cargo turnover, according to Association of Sea Ports. NCSP`s total cargo turnover in 2007 amounted to 79,4 mln. tons, according to consolidated results. NCSP is listed on London Stock Exchange and Russian stock exchanges RTS and MICEX. In 2007 NCSP had revenues of $483,4 mln. with EBITDA of $227,9 mln. and net profit of $93,7 mln. (consolidated results).
NCSP is the largest stevedore company of port Novorossiysk, a multi-purpose deep-water port complex located on the Black Sea, which provides year-round navigation. The port is a key Southern gateway for import and export of a wide range of cargoes (including oil, oil products, timber, grain, fertilizers, ferrous metals, containers, automobiles and general cargo). In 2007 NCSP has transshipped about 96% of all port Novorossiysk cargo.
NCSP owns the following stevedore companies: NZT Grain Terminal, NSRZ Ship Repair Yard, NCSP Fleet, NLE Timber & Container Terminal, IPP, Baltic Stevedore Co.
IPP
IPP is a subsidiary of NCSP that specializes in the transshipment of highly-profitable liquid cargoes - diesel fuel, bunkerage fuel and UAN (Urea-Ammonium Nitrate). Total cargo turnover of IPP amounted to 4,9 mln. tons in 2007. In 2007 IPP had revenues of 1 846 mln. rubles, net profit was 212 mln. rubles, according to RAS results. The results of IPP are included into NCSP`s consolidated results (since the date of acquisition of controlling interest in June 14th 2006).
For further information:
Tel: + 7 (495) 783-5434
PR@nmtp.info
IR@nmtp.info
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