News

27 August 2021

DeloPorts financial resultsfor the 6 months of 2021 (according to IFRS)

The financial results (in accordance with IFRS) of DeloPorts, a stevedore holding of Delo Group, for the 6 months of 2021 show a steady growth compared to the same period last year. At the same time, the company's debt burden continues to decrease in terms of the net debt / EBITDA ratio. The following key financial indicators were recorded for DeloPorts.

  • Consolidated revenue - RUB 7,009 million. (+ 27.0%);

  • Consolidated EBITDA - RUB 5,726 million. (+ 30.6%);

  • EBITDA margin - 81.7% (+ 2.3%);

  • Adjusted net profit - RUB 4,054 million. (+ 41.9%);

  • Operating cash flow - RUB 3,722 million. (-0.6%);

  • Capital expenditures - 691 million rubles. (-27.2%);

  • Net debt (as of June 30, 2021) - RUB 21,720 million. (+ 0.6% compared to December 31, 2020)

  • Net debt / EBITDA (30 June 2021) - 1.8x vs. 2.0x as of 31 December 2020

 Commenting on the results, Igor Yakovenko, Сhief Executive Officer of DeloPorts, noted: “According to the results of the first half of 2021, the holding company showed significant growth in the container and grain segments by increasing the operating efficiency of the terminals. In the face of serious competition, the well-coordinated work of the terminals of KSK, NUTEP and Delo Service Company gave a noticeable synergistic effect and allowed us to achieve significant growth in revenue and EBITDA, as well as an increase in business margins.

DeloPorts has consistently got there more than comfortable debt burden in terms of the net debt / EBITDA ratio, first, in connection with the completion of work within the framework of a large investment project “Reconstruction of the grain terminal with a cargo turnover of 2.5 million tons per year with an increase in cargo turnover to 4 million tons per year”. We plan to see the positive results of the commissioned in July 2021 the deep-water berth No. 40A at the KSK Grain Terminal by the end of this year."

 

DeloPorts is a holding company that owns and operates stevedore assets of Delo Group in the port of Novorossiysk. DeloPorts consolidates NUTEP Container Terminal, KSK Grain Terminal and Delo Service Company.

Delo Group is the largest transport and logistics holding in Russia, managing sea container terminals in the Azov-Black Sea, Baltic and Far Eastern basins, a network of railway container terminals, a fleet of containers and fitting platforms.

The Group's stevedoring business includes DeloPorts holding and Global Ports, a leading container terminal operator. The transport and logistics business of the Group is made up of the multimodal transport operator Ruscon and the intermodal container operator TransContainer that owns and operates the largest fleet of containers and flatcars over the entire 1520 standard railway network.

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