NCSP Operating Results for 11 Months 2008 – Cargo Traffic Up 2.72%
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces consolidated operating results for the first 11 months of 2008. Cargo turnover grew to 74.33 million tonnes, or by 2.72% (1.97 million tonnes) from the same period last year.
PJSC NCSP’s General Director Igor Vilinov said: «Combined volume of petroleum products, containers, and grain increased by 3.55 million tones against the background of moderate growth in the total cargo turnover of NCSP group for 11 months of this year. The share of these cargos in the total cargo traffic grew by 4.16% to 27.21%. Growth in these categories is mainly driven by new specialized cargo terminals launched under NCSP’s investment program reaching design capacity».
Container traffic showed the biggest growth of 50.74% to 350,000 TEU total. Its share in the total cargo turnover for 11 months 2008 grew to 6.6% against 4.5% a year ago.
Petroleum product volume grew to 9.98 million tonnes, up 1.7 million tonnes or 20.5% from the same period last year. The share of petroleum products in total cargo traffic grew from 11.44% to 13.42%.
Grain handling in the 11 months 2008 totaled 5.34 million tonnes, up 201,000 tonnes or 3.92% from the same period last year. About 80% of that or 4.29 million tonnes accounts for the period from July to November 2008.
Handling of timber and non-ferrous metals in the 11 months 2008 dropped by 8.27% and 12.17%, respectively, from the same period last year. One of the reasons behind this is growing containerization of Russian timber and non-ferrous metals export.
PJSC NCSP Operating Results for 11 Months 2008
|
11 months 2008 Thousand
|
11 months 2007 Thousand
|
Change | ||
|
Thousand
|
% | |||
|
Cargo turnover, total |
74 333 |
72 362 |
1 971 |
2,72% |
|
Liquid cargo, total |
50 088 |
50 248 |
-160 |
-0,32% |
|
Crude oil |
39 115 |
40 900 |
-1 785 |
-4,36% |
|
Petroleum products |
9 978 |
8 281 |
1 697 |
20,49% |
|
UAN liquid fertilizer |
749 |
733 |
16 |
2,22% |
|
Seed oils |
246 |
334 |
-88 |
-26,23% |
|
Bulk cargo, total |
9 237 |
9 203 |
34 |
0,37% |
|
Grain |
5 342 |
5 140 |
201 |
3,92% |
|
Mineral fertilizers |
1 179 |
1 187 |
-8 |
-0,66% |
|
Sugar |
1 544 |
1 685 |
-140 |
-8,33% |
|
Iron ore and ore concentrate |
101 |
543 |
-443 |
-81,48% |
|
Scrap metal |
45 |
178 |
-133 |
-74,90% |
|
Cement |
1 027 |
470 |
557 |
118,38% |
|
General cargo, total |
10 102 |
9 657 |
445 |
4,61% |
|
Ferrous metals |
7 933 |
7 255 |
679 |
9,36% |
|
Timber |
935 |
1 019 |
-84 |
-8,27% |
|
Non-ferrous metals |
791 |
900 |
-110 |
-12,17% |
|
Pig iron |
145 |
152 |
-7 |
-4,54% |
|
Perishable cargo |
93 |
60 |
33 |
56,04% |
|
Other |
205 |
271 |
-66 |
-24,29% |
|
Containers |
4 906 |
3 254 |
1 651 |
50,74% |
|
Containers |
4 906 |
3 254 |
1 651 |
50,74% |
|
Containers (thousand TEU) |
350 |
232 |
118 |
50,74% |
1. For the purposes of this table cubic meters were converted into tonnes using 0.55 tonnes per meter. This ratio is indicative and based on the assumptions our company considered justified. Any discrepancy in the figures here an actual weight of timber cargo in tonnes does not have a serious impact on our earnings and EBITDA, since tariffs are calculated per cubic meter and not by weight.
2. For the purposes of this table TEU is converted into tonnes based on a ratio of 14 tonnes per TEU. This is indicative and based on the assumptions that our company considered justified. Any discrepancy in the figures here an actual weight of container cargo in tonnes does not have a serious impact on our earnings and EBITDA, since tariffs are calculated per TEU and not by weight.
About PJSC NCSP
PJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover for 2007 totaled 79.4 million tonnes, which is some 97% of cargo handled at the port of Novorossiysk (according to the Association of Sea Ports).
NCSP shares are traded on the London Stock Exchange (NCSP) and Russia’s RTS and MICEX exchanges (NMTP). Consolidated revenue to IFRS for the 9 months of 2008 totaled $487.560 million, EBITDA – $251.093 million, net profit – $106.335 million.
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel.: +7 (495) 783-5434
IR@nmtp.info