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.

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