Russia’s Global Ports posts 9% net income growth in H1

By bne IntelliNews September 14, 2015

The net income of Russia's container terminal operator Global Ports increased by 8.9% y/y to $72.1mn under IFRS in H1, the company reported on September 14. 

The revenues for the period declined by 25.2% to $214.3mn, adjusted EBITDA was 71.6%. The operating income fell by 4.1% y/y to $120.9mn. The company reduced its capital expenditures by 63.8% to $4.7mn. Its net debt at the end of H1 amounted to $272mn.

Global Ports' main shareholders are Transportation Investments Holding Limited and APM Terminals B.V. with 30,75% each. Ilibrinio Establishment Limited and Polozio Enterprises Limited, former owners of NCC Group, bought by Global Ports at the end of 2013, hold 9% in the company. The remaining 20.5% of the shares are owned by the shareholders in the form of GDRs, listed on the London Stock Exchange. 

Related Articles

EU extends Russian sanctions by six months

The European Union has agreed to extend the sanctions against Russia for six months, European Council President Donald Tusk announced on June 22. “Agreed. EU will extend economic sanctions ... more

Rosneft-led acquisition of India's Essar completed, says CEO Sechin

The acquisition of India's Essar Oil led by Russian oil major Rosneft can be “considered done”, the state-controlled company’s CEO Igor Sechin said at the annual shareholder meeting on June 22, ... more

US expands Russian sanctions list

The US Treasury added 38 individuals and organisations to the Russia sanctions list on June 20, as Ukrainian President Petro Poroshenko visited the White House and Russia placed $3bn in sovereign ... more