17th Feb 2009 08:15
Press-release
NCSP Operating Results for January 2009: Managing cargo mix to support performance
17 February 2009
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces consolidated operating results for January 2009. Cargo turnover of the Group totaled 7,044 thousand tonnes which is 1,030 thousand tonnes up from the same month last year.
CEO of PJSC NCSP Igor Vilinov commented on the operating results, saying: «We retained positive year-on-year cargo traffic dynamics thanks to sustainable growth achieved from the new cargo terminals launched in 2007-2008. On the other hand, our monthly cargo traffic compared to December 2008 has decreased».
The biggest increase in January 2009 was achieved in crude oil and oil products volumes, which grew by 699 thousand tonnes (21%) and 423 thousand tones (55.3%) respectively. Substantial growth in oil products handling was supported by the launch of new 1 mln. tonnes per year terminal in the end of 2008. As a result of these changes the share of oil products in the total cargo turnover increased almost by 4 percentage points, and reached 16.9% against 12.7% in January last year.
Volumes of pig iron and iron ore and ore concentrate have also increased as a result of Group's efforts to attract new clients and reclaim some cargo traffic previously distracted by foreign ports. Handling of pig iron reached 30 thousand tonnes, which represents 20 thousand tonnes year-on-year growth. Volumes of iron ore and ore concentrate have grown dramatically from 21 thousand tonnes in January last year to 253 thousand tonnes this January, making up some 3.6% of the total cargo turnover.
Grain handling volumes in January 2009 totaled 437 thousand tonnes, which is 5.4% up from January last year.
At the same time cargo traffic shrunk in few segments. Handling of ferrous metals decreased by 65.5 thousand tonnes; sugar - by 63 thousand tonnes; timber - by 21 thousand tonnes; non-ferrous metals - by 12.3 thousand tonnes; cement - by 6 thousand tonnes; mineral fertilizers - by 4.5 thousand tonnes. There were no UAN liquid fertilizer volumes in January 2009.
Overall container traffic dropped by 2 thousand TEU or 9.5% against same month last year mostly due to Baltic Stevedoring Company's underperformance. BSC terminal services the needs of automotive and home electronics manufacturers in Kaliningrad region, where production was suspended for most of January leading to cease of cargo traffic. At the same time Novoroslesexport container terminal in Novorossiysk increased throughput against January last year.
PJSC NCSP Operating Results for January 2009
|
January 2009 |
January 2008 |
Change |
||
|
thousand tonnes |
thousand tonnes |
thousand tonnes |
% |
|
|
Cargo turnover, total |
7 043.6 |
6 012.8 |
1 030.8 |
17.1% |
|
Liquid cargo, total |
5 244.7 |
4 142.1 |
1 102.6 |
26.6% |
|
Crude oil |
4 032.8 |
3 333.7 |
699.1 |
21.0% |
|
Petroleum products |
1 188.7 |
765.5 |
423.2 |
55.3% |
|
UAN |
0.0 |
33.5 |
-33.5 |
-100.0% |
|
Seed oils |
23.1 |
9.4 |
13.7 |
146.2% |
|
Bulk Cargo, total |
873.0 |
701.6 |
171.4 |
24.4% |
|
Grain |
436.7 |
414.3 |
22.4 |
5.4% |
|
Mineral fertilizers |
129.6 |
134.1 |
-4.5 |
-3.4% |
|
Sugar |
49.9 |
112.8 |
-62.9 |
-55.8% |
|
Iron ore and ore concentrate |
253.1 |
21.2 |
231.9 |
1093.7% |
|
Scrap metal |
0.0 |
9.6 |
-9.6 |
-100.0% |
|
Cement |
3.8 |
9.6 |
-5.9 |
-60.9% |
|
General cargo, total |
786.2 |
865.0 |
-78.8 |
-9.1% |
|
Ferrous metals |
589.9 |
655.4 |
-65.5 |
-10.0% |
|
Timber |
56.8 |
77.9 |
-21.1 |
-27.1% |
|
Non-ferrous metals |
78.3 |
90.6 |
-12.3 |
-13.6% |
|
Pig iron |
30.1 |
10.2 |
19.9 |
194.8% |
|
Perishable cargo |
15.6 |
7.0 |
8.6 |
123.1% |
|
Other |
15.5 |
23.9 |
-8.4 |
-35.1% |
|
Containers* |
139.7 |
304.1 |
-164.4 |
-54% |
|
Containers (thousand TEU) |
19.7 |
21.7 |
-2 |
-9.5% |
* Due to decrease of average container weight and substantial difference of this indicator between Group's three terminals, starting from January 2009 container traffic in tonnes is reported according to bills of lading data, and not by indicative tonnes/TEU ratio applied previously on the basis of average container weight at PJSC NCSP terminal.
About PJSC NCSP
PJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2008 totaled 81.6 million tonnes.
NCSP shares are traded on the London Stock Exchange (NCSP) and Russia's RTS and MICEX exchanges (NMTP). Consolidated revenue to IFRS for the 9 months of 2008 totaled $487.560 million, EBITDA - $251.093 million, net profit - $106.335 million.
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel.: +7 (495) 783-5434
Related Shares:
Pjsc Novor. S