News

DELOPORTS IFRS FINANCIALS FOR 1H 2017

Key financials:

·           Consolidated revenue RUB 4,037 mln (+9.2%)

·           Consolidated EBITDA RUB 2,733 mln (-1.6%)

·           EBITDA margin 67.7% as against 75.1% in 1H 2016

·           Adjusted net profit RUB 1,952 mln (+3.3%)

·           Operating cash flow RUB 1,891 mln (-16.4%)

·           CAPEX RUB 533 mln (+48.4%)

·           Net debt as of 30 June 2017 RUB 5,289 mln (+22.2% compared to                     31 December 2016)

·           Net debt/EBITDA 0.9x as of 30 June 2017 versus 0.8x as of 31 December 2016

Key operating results:

·           Total volume of cargo handling 3.5 mln tonnes (+32.3%)

·           Grain handling volume 1.7 mln tonnes (+39.5%)

·           Container throughput 166 ‘000 TEU (+28.5%)

Key developments:

·           NUTEP container terminal and Shanghai Zhenhua Heavy Industries Co Ltd (ZPMC) signed the contract for equipment supply as part of the investment project - deepwater berth construction

·           Delo Service Company established

·           Corporate credit rating affirmed at BB- with a stable outlook (Fitch)

Commenting on the results, Igor Yakovenko, DeloPorts CEO, stated:

“The Company’s strong half year results of 2017 are reflective of container market recovery and increase of grain throughput driving DeloPorts’ share of Novorossiysk port’s annual dry cargo throughput from 14.4% to 17.0% as of 30 June 2017. We continue to progress our investment projects according to the programme.”

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