News

23 March 2021

DeloPorts revenue increased by 33% in 2020 according to IFRS

DeloPorts, a stevedore asset of the largest transport and logistics holding in Russia, Delo Group, has consolidated financial results for 2020 in accordance with International Financial Reporting Standards (IFRS).

Key financial indicators:

  • Consolidated revenue RUB 13,099 mln (+ 33.2%)

  • Consolidated EBITDA RUB 10,620 mln (+ 57.2%)

  • EBITDA margin 81.1% versus 68.7% in 2019

  • Operating cash flow RUB 8,988 mln (+ 60.4%)

  • Capital expenditures RUR 1,949 mln (-52.9%)

  • Net debt RUB 21,594 mln (-2.4%)

Net debt / EBITDA 2x versus 3.3x as of 31 December 2019

Key operating indicators:

  • Total volume of cargo handling 11.2 mln tons (+ 36.1%)

  • Grain transshipment volume 5.1 mln tons (+ 43.3%)

  • Container turnover 487 thous. TEUs (+ 29.8%)

The indicated revenue and EBITDA are the highest in the entire history of the stevedore holding.

During 2020, the assets of DeloPorts set several records: in the monthly transshipment of NUTEP Container Terminal in March - 50,518 TEU, in the monthly transshipment of KSK Grain Terminal in September - 667,991 tons, and in the annual transshipment of grain at the end of 2020 - 5.1 million tons.

Moreover, a new effective mobile application for the freight forwarders has been introduced at NUTEP Container Terminal, which makes it possible to speed up the transportation and inspections, as well as to minimize interaction with the terminal’ employees.

In 2021, DeloPorts will complete the implementation of a large investment project “Reconstruction of the grain terminal with an increase in cargo turnover to 4 million tons” by the beginning of the grain season, within the framework of which a permit from Rosmorrechflot has already been obtained to launch the deep-water grain berth No. 40A, fleet, motor transport and railroad components have been updated.

Igor Yakovenko, Chief Executive Officer of DeloPorts, commented on the financial results for the year: “The results of 2020 were expected for us, throughout the entire period we felt a gradual but continuous increase in cargo traffic, an increase in the load on our capacities.

Without a doubt, the result is very good, by far the best in the history of DeloPorts. It is doubly pleasant that both the employees and the equipment have withstood such a serious load with a large margin. This means that we are ready to move on and that our investments pay off. I would like to sincerely thank the management and all employees of DeloPorts for the contribution that each of them made to our common cause and common achievements".

 

About the Company

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 parent company of the Group is LLC MC Delo, 70% owned by the founder of the Group, Sergey Shishkarev, and 30% is owned by State Atomic Energy Corporation Rosatom.

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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