NCSP Consolidated 95.46% of Novorossiysk Shipyard
NCSP Group reports that as of 13 June 2016 PJSC NCSP has completed the acquisition of 1 885 176 ordinary shares (30.28% of the share capital) of OJSC Novorossiysk Ship Repair Yardfrom JSC South Center for Shipbuilding and Ship Repair (a company of United Shipbuilding Corporation) for 1/1 billion rubles.
As the result of the transaction PJSC NCSP now owns 95.46% of the share capital or 97.87% of voting stock of OJSC Novorossiysk Ship Repair Yard.
CEO of PJSC NCSP Sultan Batov commented on the event: «Consolidation of ownership of OJSC Novorossiysk Ship Repair Yard is a landmark that reveals new opportunities for the implementation of NCSP Group’s 2020 development program».
OJSC Novorossiysk Ship Repair Yard cargo turnover in 2015 totaled 3 486 thousand tonnes of general cargo, which accounts for 2.5% of NCSP Group’s total cargo turnover. Its revenue in 2015 accounted for some 4% of NCSP Group’s total revenue and comprised 2 092 566 thousand rubles, of which 98% accounts for cargo transshipment revenue.
OJSC Novorossiysk Ship Repair Yard has 10 berths extending for 1.7 km total. Mooring depth up to 11 meters allows to handle vessels up to 54 000 tons of deadweight. Terminal’s area is some 28 hectares, equipment park includes 15 with 75-25 tons lifting capacity.
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 million, and EBITDA $657* million. 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.
