Russian Global Ports prevails
Russian terminal operator Global Ports has reported its results for 2020. Consolidated marine container throughput went up by 6.6% year-on-year to more than 1.5 million teu against a 0.8% year-on-year decline in the Russian container market over the same period. Marine Bulk generated a throughput of 5.1 million t (+38.7% y-o-y).
Revenues increased by 6.2% to USD 384.4 million, yet declined by 8.2% like-for-like due to adjustments in VSC transportation services. Adjusted ebitda was USD 209.7 million (2019: USD 226.9 million), up 7.6%. Operating profit increased by 8.7% to USD 157.4 million.
Credit ratings reaffirmed by all rating agencies (Fitch Ratings at BB+, Moody’s at Ba2 and RA Expert at RuA+) that judge the group and its financial instruments confirmed a stable outlook.
Albert Likholet, CEO of Global Ports: "Both the company and the Russian market have successfully met the challenges." (cd)