GLOBAL PORTS INVESTMENTS PLC For immediate release | 17 July 2023 |
Global Ports Investments PLC
Q2 and H1 2023 Operational results
Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries and joint ventures, the "Group") today announces its operational results for Q2 and H1 2023.
On the back of continuing strong demand in both Far Eastern and Southern basins and gradual increase of direct vessel calls at the Baltics, Russian container market grew in Q2 2023 by 33.1% y-o-y resulting in H1 2023 increase of 4.0% y-o-y.
Marine container throughput at the Group's VSC terminal in the Far East increased in Q2 2023 and H1 2023 by 15.1% y-o-y and 16.3% y-o-y respectively, while the throughput at the Groups' terminals in the Baltics declined in Q2 2023 and H1 2023 by 49.7% y-o-y and 78.1% y-o-y respectively.
Overall the Group's Marine container consolidated throughput amounted to 208 thousand TEU in Q2 2023, an increase of 11.7% q-o-q, compared to the market q-o-q growth of 9.0%.
The Group's Consolidated Marine Container Throughput declined in Q2 2023 by 16.1% y-o-y as strong performance in the Far East was not sufficient to compensate the decline at the Baltics' terminals which had been highly exposed to blue chip international shipping lines who left the market in Q2 2022 and Q3 2022. The Group's Consolidated Marine Container Throughput in H2 2023 declined by 35.7%.
The Group increased its marine bulk throughput in Q2 2023 by 119.1% y-o-y to 1.7 million tons and in H1 2023 by 125.3% to 3.0 million tons as a result of successful efforts to increase utilization rate of temporary available container facilities at the terminals in the Russian Baltics.
Rounding adjustments have been made to calculate some of the operational information included in this release. As a result, numerical figures and percentages shown as totals in some tables may not be exact arithmetic aggregations.
Q2 | Q2 | Change | ||
2023 | 2022 | Abs | % | |
Global Ports Consolidated Results | ||||
Consolidated Marine | ||||
Container Throughput | 208 | 248 | -40 | -16.1% |
(kTEU) | ||||
FCT | 22 | 75 | -53 | -71.0% |
PLP | 37 | 42 | -5 | -12.0% |
VSC | 148 | 128 | 19 | 15.1% |
ULCT | 0 | 2 | -2 | -99.8% |
MD | 1 | 0 | 1 | 576.4% |
Non-containerised cargo | ||||
Ro-ro (thousand units) | 0.7 | 0.0 | 0.7 | - |
Cars (thousand units) | 0.0 | 0.0 | 0.0 | - |
Bulk cargo (thousand tonnes) | 1,721 | 785 | 935.5 | 119.1% |
Yanino (inland terminal) | ||||
Containerised cargo, kTEU | 9.0 | 16.4 | -7.4 | -44.9% |
Bulk cargo (thousand tonnes) | 20.3 | 13.1 | 7.2 | 54.8% |
Joint ventures | ||||
Containerised cargo, kTEU | ||||
Finnish Ports | 22.0 | 27.5 | -5.5 | -20.1% |
H1 | H1 | Change | |
2023 | 2022 | Abs | % |
393 | 611 | -218 | -35.7% |
27 | 204 | -177 | -86.7% |
46 | 124 | -77 | -62.6% |
319 | 274 | 45 | 16.3% |
0 | 9 | -8 | -96.7% |
1 | 0 | 1 | 310.3% |
1.4 | 4.3 | -3.0 | -68.5% |
0.0 | 20.2 | -20.2 | -100.0% |
2,994 | 1,329 | 1665.3 | 125.3% |
17.6 | 38.6 | -20.9 | -54.3% |
39.7 | 93.7 | -54.0 | -57.7% |
41.9 | 54.4 | -12.5 | -23.0% |
1
Russian Container Market, kTEU | |||||||||
Total Market | 1,197 | 899 | 298 | 33.1% | 2,296 | 2,208 | 88 | 4.0% | |
Baltics (incl. Kaliningrad) | 318 | 253 | 64 | 25.5% | 525 | 770 | -245 | -31.8% | |
-incl terminals of Saint- | 276 | 234 | 42 | 18.0% | 460 | 678 | -218 | -32.2% | |
Petersburg and area | |||||||||
Northern Ports | 31 | 36 | -5 | -13.5% | 76 | 79 | -4 | -4.5% | |
South | 265 | 189 | 75 | 39.6% | 527 | 423 | 104 | 24.7% | |
Far East | 584 | 421 | 163 | 38.7% | 1,168 | 936 | 232 | 24.8% |
ENQUIRIES | |||
Global Ports Investor Relations | Global Ports Media Relations | ||
+7 | (812) 459 42 42 | +7 | (812) 459 42 42 ext. 2889 |
+7 | 916 991 73 96 | +7 | 921 963 54 27 |
E-mail:ir@globalports.com | E-mail:media@globalports.com |
NOTES TO EDITORS
Global Ports Investments PLC is the leading operator of container terminals in the Russian market in terms of capacity and container throughput.1
Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign Russian trade and transit cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal2 and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland3 (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park located in the vicinity of St. Petersburg.
Consolidated Marine Container Throughput was 393 thousand TEUs in H1 2023.
Global Ports' major shareholder is Delo Group, the largest intermodal container and port operator in Russia4
For more information please see: www.globalports.com
LEGAL DISCLAIMER
Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward- looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Any forward- looking statement is based on information available to Global Ports as of the date of the statement and, other than in accordance with its legal or regulatory obligations, Global Ports does not intend or undertake to update or revise these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements involve known and unknown risks and Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially from what is expressed or implied by these statements. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in
1 Company estimates based on H1 2023 throughput and the information published by the "ASOP".
- In which Eurogate currently has a 20% effective ownership interest.
- Joint ventures in each of which CMA Terminals currently has a 50% effective ownership interest.
- According to publicly available data atwww.delo-group.com.
2
the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. All written or oral forward-looking statements attributable to Global Ports are qualified by this caution.
3
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Disclaimer
Global Ports Investments plc published this content on 16 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2023 12:32:02 UTC.
