NCSP Group has announced its consolidated operating and financial results for the 2019 financial year under International Financial Reporting Standards (IFRS).
Consolidated revenue for the year 2019 totaled $866.4 mn, down 8.9% year-on-year. The Group explains the decrease in revenue by the loss of revenue from grain transshipment ($121.2 mn). Last year, the Group sold its Novorossiysk Grain Terminal to a VTB-controlled entity for 35.8 mn rubles. Partially, the loss of revenue on grain handling was offset by an increase in revenue from oil and petroleum products transshipment ($46.6 mn).
The Group’s EBITDA and in the reporting period decreased by 3.4% down to $646.5 mn while its net profit surged 3.5-fold up to $943.3 mn, due to the sale of its grain handling business.
Cash and cash equivalents as of 31 December 2019 totaled $433.5 mn. Net debt reduced down to $387.1 mn.
Net debt to EBITDA ratio improved to 0.60 versus 1.26 at the beginning of the year.