Novorossiysk Commercial Sea Port Group has posted interim consolidated IFRS results for Q1 2019.
The consolidated earnings of the group made $239.9 mn, up 0.8% year-on-year. 97.6% of this volume, or $234 mn, was generated by stevedoring and related port services.
In Novorossiysk, earnings on stevedoring and related port services were up 0.7%, in Primorsk up 1.1% and in Baltiysk up 30.6% year-on-year. Earnings on fleet services declined by 51.4% in Novorossiysk and grew by 1.3% in Primorsk.
The group EBITDA was up 11.1% to $186.7 mn, operational profit up 12.6% to $160.9 mn and net profit up 50.9% to $167.7 mn.
Operations costs declined by 23.9% down to $56.2 mn. Net debt was down 0.8% to $837.8 mn.