Global Ports announces its 2016 profit of $61.3 mln
Global Ports Investments PLC has announced its operational results and published its full-year results for the financial year ended 31 December 2016.
Profit for the period amounted to a profit of USD 61.3 million in 2016 compared to a loss of USD 33.7 million in 2015 due to the factors described above.
Revenue in 2016 was 18.3% lower than in 2015 at USD 331.5 million while full-year Adjusted EBITDA declined 22.9% to USD 224.3 million, mainly due to lower container throughput and a 2.4% decrease in average revenue per TEU , which was partially offset by growth in other cargo throughput
Global Ports Investments PLC is the leading operator of container terminals in the Russian market. Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports also owns inland container terminals Yanino Logistics Park and Logistika-Terminal, both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil product terminal AS Vopak E.O.S. in Estonia.