DeloPorts, the stevedore asset of Delo Group, has posted consolidated financial results for 2020 in accordance with International Financial Reporting Standards (IFRS).
Consolidated revenue made 13,099 mn rubles ($176.7 mn), up 33.2% year-on-year, consolidated EBITDA was 10,620 mn rubles ($143.2 mn), up 57.2%.
Capital expenditures declined by 52.9% down to 1,949 mn rubles ($26.3 mn), and net debt by 2.4% down to 21,594 mn rubles ($291.3 mn).
The revenue and EBITDA are the highest recorded during the entire history of the holding.
Igor Yakovenko, Chief Executive Officer of DeloPorts, commented: “The results of 2020 were expected for us, throughout the entire period we felt a gradual but continuous increase in cargo traffic, an increase in the load on our capacities. Without a doubt, the result is very good, by far the best in the history of DeloPorts. It is doubly pleasant that both the employees and the equipment have withstood such a serious load with a large margin. This means that we are ready to move on and that our investments pay off.»