30 Aug 2016 16:00
Press-release
NCSP Group Consolidated Financial Results for 6M 2016
29.08.2016
NCSP Group (LSE: NCSP, MoEx: NMTP) hereby announces consolidated financial results for the six months ended 30 June 2016.
NCSP Group's revenue in H1 2016 totalled $442 million.
Group's EBITDA increased by $29.7 million* or 9.0%* y-o-y and totaled $357.8 million*.
Net profit for H1 2016 increased by $113.7 million or 45.4% y-o-y to $364 million.
Cash and cash equivalents increased three times since the beginning of the year and reached $331.7 million.
The Group's debt including financial lease reduced by 1 % y-o-y, while Net Debt/EBITDA ratio improved to 1.73* versus 2.14* at the beginning of the year, due to increase in cash.
The Group has substantially improved its financing terms, including interest rate and borrowing term, by attracting $1 500 million loan from VTB Bank to repay the Sberbank loan of the same amount in June 2016.
Interest rate on the VTB loan is LIBOR 3M + 3.99%; the term of the loan is seven years till June 2023, new comfortable repayment schedule of two $100 million payments per year is also in place.
Terms of the Sberbank loan included interest rate at LIBOR 3M + 5%, and a one-off repayment of $800 million at maturity in January 2018.
NCSP Group Key Financial Indicators
(thousand US dollars) | 6M 2016 | 6M 2015 | Change | Change % |
Revenue | 441 964 | 438 118 | 3 846 | 0.9% |
EBITDA* | 357 812 | 328 119 | 29 693 | 9.0% |
Profit for the period | 363 982 | 250 282 | 113 700 | 45.4% |
(thousand US dollars) | 30.06.2016 | 31.12.2015 | Change | Change % |
Debt (including financial lease) | 1 497 090 | 1 511 516 | -14 426 | -1.0% |
Cash and cash equivalents | 331 653 | 108 671 | 222 982 | 205.2% |
Net debt* | 1 165 437 | 1 402 845 | -237 408 | -16.9% |
Net debt / LTM EBITDA* | 1.73 | 2.14 |
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* Management accounts
NCSP Group's consolidated financial statements for the six months ended 30 June 2016 are available at: http://nmtp.info/en/holding/investors/reporting/msfo/
Conference call and webcast for investors & analysts will be held on Wednesday, 31 August 2016 at 17:00 Moscow time.
The call will be held in Russian, English translation available on a separate line.
Webcast and slideshow available in English only.
Media are welcome to join the call in listen-only mode.
The call will be hosted by:
Sultan Batov, CEO of PJSC NCSP,
German Kachan, Chief Accountant of PJSC NCSP,
Mikhail Shchur, Investor Relations Director, PJSC NCSP
Call title: NCSP GROUP FINANCIAL RESULTS FOR 6M 2016
Russian call ID: 29810814;
English call ID: 59041561
Dial-in numbers:
Russia: +7 495 221 6523; 8 800 204 14011
UK and Europe: +44 203 043 2440; 0 808 238 1774
US: +1 877 887 4163
Webcast and slideshow (English only):
http://www.audio-webcast.com/cgi-bin/visitors.ssp?fn=visitor&id=3981
About NCSP Group
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2015. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes*. Consolidated revenue to IFRS in 2015 totalled $ 877 mln, and EBITDA $657* mln. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.
* Management accounts
Contacts
Kristina Senko, Public Relations: KSenko@ncsp.com
Mikhail Shchur, Investor Relations: MShchur@ncsp.com
Pjsc Novor. S (NCSP)