NCSP Group (LSE: NCSP, MICEX: NMTP) reports that according to preliminary estimates growth in total Group’s cargo turnover in the first quarter of 2012 exceeded 3.7 million tons compared to the same period of 2011 resulting in Q1’12 Group’s total cargo turnover in excess of 41 million tones.
According to Rado Antolovic, Deputy CEO of PJSC NCSP for marketing and sales: "In March, Group management made every effort to compensate for the time that was lost when Novorossiysk port was closed due to winter storms. For the first three months of 2012 transshipment was shut down due to extremely bad weather conditions from 14 to 30 days depending on the type of cargo.
As a result of optimization of loading and unloading operations, which was carried out in the beginning of March, NCSP management team was able to maintain growth rates of turnover."
Cooperation with North-Caucasus Railway in dispatching of our customers’ rail cars arrival towards Novorossiysk station also had its positive impact in these results," R. Antolovic added.
Detailed operating results for January-March 2011 will be published later.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP). 50.1% shares of PJSC NCSP belong to Novoport Holding Ltd, beneficiaries owners of which are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $403.8 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Oil Terminal Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC NLE, OJSC IPP, and Baltic Stevedore Company Ltd.
For more information please contact:
Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;
Investment Community: MGrigoriev@nmtp.info