Russian Global Ports back in black
The container terminal operator Global Ports, Russia, has reported its figures for 2019. Revenues went up by 5.3% to USD 361.9 million (+4.0% like-for-like, adjusted for JSC Logistika-Terminal (LT) revenue and revenue from VSC railway services).
While adjusted ebitda went up to USD 226.9 million* (+4.4% y-o-y), profit for the year amounted to USD 67.7 million (compared to a loss of USD 58.3 million in 2018).
Consolidated marine container throughput surged by 6.5% to more than 1.4 million teu, against a 4.5% growth in the Russian container market in general over the same period. Consolidated bulk throughput rose to 3.7 million t (+17.1%).
Vladimir Bychkov, CEO of Global Ports Management, commented: “Notably in the Baltic Basin, our consolidated container throughput grew 12% against a 5.1% growth of the Russian market."
Furthermore, the group reduced net debt by USD 33.3 million over the twelve-month period despite IFRS 16 impact of USD 24.9 million and FX impact of USD 28.9 million. Adjusted for this IFRS 16 effect, net debt decreased by USD 58.2 million to USD 722.1 million. (mw)