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NCSP Group Consolidated Financial Results for Jan-Sep 2018

Novorossiysk, Russia (PortSEurope) November 30, 2018 – NCSP Group has announced its consolidated operating and financial results for the nine months ended 30 September 2018.

NCSP Group’s consolidated revenue for 9M 2018 increased by $50.943 million or 7.7% year-on-year and totaled $712.5 million.

Group’s EBITDA and net profit in the reporting period totaled $512.931 million* and $215.698 million respectively.

As at 30 September 2018 cash and cash equivalents totaled $335.322 million. Net debt reduced to $775.989* million.

Net debt to LTM EBITDA ratio improved to 1.13* versus 1.64* at the beginning of the year.

NCSP Group Key Financial Metrics for the Nine Months 2018

(thousand US dollars)9М 20189М 2017ChangeChange %
Revenue712 500661 55750 9437,7%
EBITDA*512 931482 45330 4786,3%
EBITDA Margin*72,0%72,9%-0,9%  
Profit for the period215 698359 354-143 656-40,0%
(thousand US dollars)30.09.201831.12.2017ChangeChange %
Debt (incl. financial lease)1 111 3111 196 425-85 114-7,1%
Cash and equivalents335 322121 528213 794175,9%
Net debt*775 9891 074 897-298 908-27,8%
Net debt / LTM EBITDA*1,131,64  

* Management accounts

Additionally inform that the published consolidated financial statements for the year ended 31 December 2017 contain an error. The nature of the error and its impact on the financial statements are presented in the consolidated financial information for the nine months ended 30 September 2018 in Chapter 2  Correction of a fundamental error.

About NCSP Group

NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2017. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, LLC Novorossiysk Grain Terminal, JSC Novorossiysk shiprepair yard, JSC FNCSP, JSC NLE, LLC IPP, LLC Baltic Stevedore Company, and JSC SFP.

Source: NCSP

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