Global Ports: less traffic, more revenues
Russia’s main container terminal operator Global Port Investments (Global Ports) has reported its interim consolidated financial results (unaudited) for H1/2022. The group's revenues grew by 18.2% to USD 271.6 million compared to H1/2021, while gross profit increased by 28.8% to USD 129.9 million. Global Pots' adjusted ebitda rose by the same rate, 28%, to USD 145.6 million. Yet, volumes went down.
In the first six months of 2022, Global Ports registered shrinking container traffic by 22.6% compared to H1/2021, arriving at 611,000 teu.
"After a strong start of the year, an increase of geopolitical tensions resulted in a significant deterioration of the Russian container market," the company commented in a press release. The terminals in Russia’s Far East did better than the ones in the northwest of the country. (sh)