Globalports continues its comeback
During 2018, Globalports continued to focus on the recovery of the Russian container market. The group’s marine container throughput increased by 12.2% year-on-year in 2018, slightly outperforming the market growth of 10.0%. The group also reported strong growth in bulk throughput, posting a 15.9% year-on-year rise in consolidated marine bulk throughput in 2018.
In accordance with the group’s strategy to develop additional sources of income, a new coal handling facility at ULCT was launched in December 2018. As a result, revenue rose by 4.0% to USD 343.6 million.
Gross profit increased by 14.0% to USD 207.6 million and adjusted ebitda grew by 7.8% to USD 217.3 million, driven by strict cost control. The group’s net debt was reduced by a further USD 85.6 million over the period. (kd)