NCSP Group published its consolidated financial and operational results for 12 months 2020
NCSP Group has published its consolidated financial results for the 12 months of 2020 prepared in accordance with the International Financial Reporting Standards (IFRS).
Consolidated cargo turnover of NCSP Group for the 12 months of 2020 totaled 110.6 mln tons, including 87.8 mln tons of liquid and 22.8 mln tons of dry cargo, which is 31.9, 26.6 and 5.3 mln tons down year-on-year, respectively. The cargo turnover was mainly impacted by the reduction of crude oil transshipment due to COVID-19 pandemic and implementation of the OPEC+ agreement since May 1, 2020 to limit oil production.
Consolidated revenue of NCSP Group for the 12 months of 2020 totaled USD 632,3 mln, which is USD 234,1 mln (or 27%) less compared to the 12 months of 2019. The factors that affected the revenue are identical to those that had an impact on the cargo turnover.
EBITDA of NCSP Group amounted to USD 425,8 mln in the reporting period. Cash and cash equivalents as of December 31, 2020 stood at USD 190,6 mln The Group's net debt increased by USD 24,4 mln on the back of lower free cash balances due to significant dividend payments in 2020.
NCSP Group's key financial indicators for 12 months 2020
|
Indicator |
UOM |
12M 2020 |
12M 2019 |
Change |
Change, % |
|
Revenue |
mln USD |
632,3 |
866,4 |
-234,1 |
-27,0% |
|
EBITDA |
mln USD |
425,8 |
646,5 |
-220,7 |
-34,1% |
|
EBITDA margin |
% |
67.3 |
74.6 |
-7.3 |
- |
|
Profit for period |
mln USD |
67,1 |
943,3 |
-876,2 |
-92,9% |
|
|
Dec 31, 2020 |
Dec 31, 2019 |
Change |
Change, % |
|
|
Debt (incl. leasing) |
mln USD |
602,1 |
820,6 |
-218,5 |
-26,6% |
|
Cash and cash equivalents |
mln USD |
190,6 |
433,5 |
-242,9 |
-56,0% |
|
Net debt |
mln USD |
411,5 |
387,1 |
24,4 |
6,3% |
NCSP Group is the largest port operator in Russia by cargo turnover. Its controlling shareholder (62%) is PJSC “Transneft”.
NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as global depositary receipts (NCSP). NCSP Group comprises PJSC “NCSP”, LLC “PTP”, JSC “Novorossiysk shiprepair yard”, JSC “FNCSP”, JSC “NLE”, “IPP” Ltd, LLC “Baltic Stevedore Company”, and “SFP” LLC. PJSC “NCSP” and PJSC “Transneft” own LLC “NFT” on a parity basis.
