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Corporate Social Responsibility Report 2018

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Corporate Social Responsibility Report 2018 Corporate Social Responsibility Report 2018 Global Ports Investments PLC Global Ports During 2018 the Group continued to implement its strategy of harnessing the recovery of the container market, developing additional revenue streams, improving operational efficiency, maximising Free Cash Flow, and deleveraging. Global Ports’ Consolidated Marine Container Throughput increased 12.2% year-on-year in 2018 outperforming the overall market which grew by 10%. The Group continued to deliver impressive growth in bulk throughput posting a 15.9% year-on-year increase in Consolidated Marine Bulk Throughput in 2018. In accordance with the Group’s strategy of developing additional revenue streams, a new coal handling facility at ULCT was successfully launched in December 2018. In 2018 the Group achieved а 4.0% growth in Revenue and an 8% growth of Adjusted EBITDA compared to 2017. Adjusted EBITDA Margin expanded by 224 basis points to 63.2%. Net Debt to Adjusted EBITDA decreased to 3.6x as of 31 December 2018 from 4.3x as at the end of 2017. Key Strengths1 №1 323 hectares 7 container terminal of land marine container operator in Russia (equivalent to more than 450 football fields) and multipurpose terminals1 Undisputed industry leader in Russia and 5 km of quay wall in key in Russia and Finland, in terms of container throughput and sea basins covering 2 major sea basins3 capacity, handling almost one in every three containers coming in and out of the country2 1.35 mln TEU 3.1 mln tonnes Consolidated Marine Container of Consolidated Marine Bulk Throughput Throughput in 2018 A record result for the Group 2018 Results 8% 12% 0.7x increase in Adjusted EBITDA increase in Consolidated Marine reduction in the Group’s Container Throughput financial leverage in 2018 (3.6x as of 31.12.2018)4 1. Hereinafter all operational statistics is stated without Vopak E.O.S. (VEOS) which was sold in April 2019. 2. Based on 2018 overall container throughput in the Russian Federation ports (Source: ASOP) and public sources on capacity. 3. Including Joint Ventures. 4. Rounding adjustments have been made in calculating some of the financial and operational information included in this report. As a result, some numerical figures used in this report may not be exact arithmetic aggregations of the figures of which they are composed. Corporate Social Responsibility Report 2018 02 Global Ports Investments PLC Overview Strategy Corporate Social Risk Additional Responsibility Management Information Overview Strategy Corporate Social Risk Additional Responsibility Management Information 04 08 10 14 20 Directors’ Responsibility Statement 21 Definitions 24 For more information, Shareholder Information and Key Contacts please, visit our corporate website: http://www.globalports.com 224 16% LTIFR 1.28 basis point – increase increase in the Group’s close to 5 year low in Adjusted EBITDA Margin Consolidated Bulk Throughput Corporate Social Responsibility Report 2018 03 Global Ports Investments PLC Overview About Us – Performance In 2018 Global Ports delivered on its potential: its share of the container market of Russia began to recover, the non-container segment produced a solid performance, it reported Adjusted EBITDA growth of 8% and a further substantial reduction in financial leverage (Net Debt/Adjusted EBITDA declined 0.7x to its lowest level in 4 years)1. Ownership Structure2 Consolidated Financial and Operating Data 2017 2018 Change 9% Selected IFRS Financial Information USD million USD million USD million Change, % 20.5% 9% Revenue 330.5 343.6 13.1 4% Cost of sales and administrative, selling and (191.2) (174.9) 16.3 (9%) marketing expenses Gross profit 182.0 207.6 25.6 14% Operating profit/(loss) (5.3) 131.6 137.0 (2,569%) Net profit/(loss) (52.9) (58.3) (5.4) 10% 30.75% 30.75% Free-float (LSE listing) Delo Group Selected operating information 2017 2018 Change Change, % USD million USD million USD million APM Terminals Consolidated Marine Container Throughput, mln 1.2 1.4 0.1 12.2% Ilibrinio Establishment Ltd TEU Polozio Enterprises Ltd Consolidated Marine Bulk Throughput, mln 2.7 3.1 0.4 15.9% tonnes APM Terminals operates a global terminal Ro-Ro, thousand units 23.9 20.3 (3.6) (14.9%) network of 22,000 professionals with Cars, thousand units 95.4 121.1 25.6 26.9% 74 operating port facilities and 117 Inland Services operations in 58 countries around the globe. APM Terminals is a part of A.P. Moller-Maersk, the world’s largest integrator of container and ports logistics. 2017 2018 Change Change, % Balance sheet and cash flow statement USD million USD million USD million Delo Group is one of the largest private Total assets 1,655.6 1,288.3 (367.2) (22.2%) transportation and logistics holding Cash and cash equivalents 130.4 91.6 (38.8) (29.8%) companies in Russia. The Group offers a full range of services in the port of Net cash from operating activities 173.9 174.3 0.4 0.2% Novorossiysk, including stevedoring, tug boats and vessels bunkering (DeloPorts). Delo Group also offers multimodal freight forwarding services using own inland terminals, warehouses, flatcars (RUSCON). 2017 2018 Change Change, % Delo Group operates two marine terminals Selected non-IFRS financial information USD million USD million USD million and five inland terminals and employs Total Operating Cash Costs (128.9) (126.3) 2.6 (2.0%) a workforce of over 2,000 people. Adjusted EBITDA 201.6 217.3 15.7 7.8% Adjusted EBITDA Margin 61.0% 63.2% Ilibrinio Establishment Limited and Polozio Enterprises Limited (former owners of NCC Net debt 865.9 780.3 (85.6) (9.9%) Group) each own 9% of the share capital Net debt to Adjusted EBITDA 4.3 3.6 (0.7) (16.4%) of Global Ports. 1. 3.6x as of 31 December 2018 versus 4.3x as of 31 December 2017. 2. As of April 2019. Corporate Social Responsibility Report 2018 04 Global Ports Investments PLC Overview Strategy Corporate Social Risk Additional Responsibility Management Information Non-Container Cargo Business has excellent momentum (four-fold growth in 4 years, from 16% of Revenue to 26% of Revenue). Such performance justifies the Group’s focus on this segment and associated investments. With its unique asset base, (323 ha of land and 5 km of quay wall) the Group is in an excellent position to exploit further opportunities in the non-container business segment. KEY MILESTONES April April July September Delo Group, one of the largest Unique portfolio of services Vladimir Bychkov appointed PLP celebrates the 10th private transportation and makes FCT and PLP the only as CEO of Global Ports. anniversary of its car handling logistics holding companies in Russian ports of call for the Mr. Bychkov has twenty years terminal. Almost 900,000 cars Russia, becomes a co-controlling world’s largest ice class container of experience in the logistics and have been handled at PLP over shareholder of Global Ports. vessels operated by Maersk. transportation industry. its ten years of operations. Through its subsidiary DeloPorts, Delo owns and operates marine container and grain terminals in the port of Novorossiysk (Black Sea basin) alongside operating agency, tugboat and bunkering services. The board is re-elected in May to reflect new composition of shareholders. September September December December 2018 – PLP becomes the first Baltic port Global Ports completes the ULCT delivers its inaugural January 2019 of call for Venta Maersk during sale of JSC Logistika-Terminal, shipment of coal-handling On 1st January 2019, Global its historic first ever container one of its two inland facilities. services. ULCT has excellent rail Ports launched a new ERP vessel voyage via Artic Route. The 1.9 billion rouble sale connectivity and the capability system in all of the marine proceeds are put towards to support up to 1.0 million terminals in Russia, as well as in further financial deleveraging. tonnes of coal shipments per certain other companies across year. The first coal deliveries the Group. This will result in began arriving at ULCT in better management and further November 2018, with the integration of business processes inaugural shipment completed and therefore improved levels on 27 December. The container of efficiency and productivity. handling capacity of the terminal remains unchanged at 440 thousand TEU per annum. Corporate Social Responsibility Report 2018 05 Global Ports Investments PLC Overview Strong presence in Russia’s key container and bulk gateways1 Baltic Sea Basin The Group’s container and multipurpose terminals in the Baltic Sea Basin offer direct access to the most St. Petersburg populous and economically developed regions of the European part of Russia, Moscow including Moscow and St. Petersburg. Ekaterinburg Cargo from the Americas FINLAND 7 8 52 Gulf of Finland 6 Baltic Sea 4 1 ESTONIA RUSSIA LATVIJA By Sea By rail By road By Rail The Far East Basin is the fastest route for transporting containers from Asia to the European part of Russia and many CIS countries 51% and transit to EU. The shorter transit time is a key advantage for Share of Baltic Basin terminals customers shipping high-value and time-sensitive cargo. in the overall container throughput of Russian terminals. By Sea The Baltic Sea Basin’s container terminals are close to key transhipment hubs for Russia’s inbound and outbound containers, such as Hamburg 2 and Rotterdam. The basin has a strong customer base due to its 2.0 mteu economic development, access to Russia’s most populous regions and Global Ports marine terminal capacity. cost-effective transportation of containers to major Russian cities. 1 2 3 4 5 6 First Container Petrolesport (PLP) Vostochnaya UST-LUGA Container Moby Dik (MD) Yanino (YLP) Terminal (FCT) Stevedoring Terminal (ULCT) Location: Company (VSC) Location: Location: Location: St.
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