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Base Document For immediate release 16 April 2021 Global Ports Investments PLC Q1 2021 Operational Results Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries and joint ventures, the "Group") (LSE ticker: GLPR) today announces its operational results for Q1 2021. Highlights ● In Q1 2021 the overall Russian container market grew by 2.0% to 1.3 million TEU, driven by both the accelerating recovery of full containerised import (+6.0% y-o-y) and the continued growth of containerised export (+0.5% y-o-y). ● As a result of the high growth in freight rates in the global container shipping market in 2H 2020 and a deficit of empty containers globally, during Q1 2021 market players preferred faster container import and export supply chains with the shortest sea leg. As a result, the market growth seen in Q1 2021 was concentrated in the Russian Far Eastern basin (Q1 2021: +10.8% y-o-y) and the Southern basin (Q1 2021: +7.2% y-o-y) while the combined throughput of terminals located in Saint- Petersburg and surrounding area declined by 11.9%. ● The Group successfully maintained its market share position in Q1 2021 in all its basins with throughput at VSC boosted by 11.5% y-o-y in Q1 2021 (vs. the Russian Far East market increase of +10.8%) and throughput of its terminals in the Baltic Basin declining by 11.8% y-o-y in 1Q 2021 (vs a market decrease of 11.9%). In total, Consolidated Marine Container Throughput declined 5.9% in Q1 2021 to 371 thousand TEU. ● The Group’s Consolidated Marine Bulk Throughput increased by 22% y-o-y to 1.26 million tonnes in Q1 2021, driven by the solid recovery in global coal demand and high growth of fertilisers and scrap metal handling at PLP. ● Heavy Ro-ro handling demonstrated a continued recovery in 1Q 2021 with a 46% growth to 6.6 thousand units. Car handling was also strong in Q1 2021 with an 57% recovery to 28 thousand units. Albert Likholet, CEO of Global Ports Management, commented: “Despite a muted start in January, we saw the market turn to growth, both in containerised import and export, towards the end of the first quarter of 2021, delivering double-digit growth rates in the Far Eastern and Southern Basins while the Saint-Petersburg market, where most of our terminals are located, saw a decline. Nonetheless, we successfully protected our market share in our basins of presence over the quarter and as we look ahead, are prepared to support our clients. We believe that the remainder of this year with its volatile freight rates, global container deficit and the recent interruption of global supply chain at Suez Canal, means that quality offering, operational flexibility and high level of customer service will be in huge demand.” 1 Change Q1 2021 Q1 2020 Abs % Global Ports Consolidated Results Consolidated Marine Container Throughput (kTEU) 370.91 394.06 -23.15 -5.9% FCT 157.1 171.0 -13.9 -8.1% PLP 93.2 107.9 -14.7 -13.6% VSC 112.3 100.7 11.6 11.5% ULCT 8.3 14.4 -6.1 -42.4% Non-containerised cargo Ro-ro (thousand units) 6.6 4.5 2.1 46% Cars (thousand units) 28.3 18.0 10.3 57% Bulk cargo (thousand tonnes) 1,259 1,029 230 22% Joint ventures Containerised cargo, kTEU Finnish Ports 20.1 24.9 -4.8 -19% Yanino (inland terminal) 17.8 24.1 -6 -26% Bulk cargo throughput, thousand tonnes Moby Dik 52.5 55.8 -3.3 -6% Yanino 85.2 77.9 7.3 9% Russian Container Market, kTEU Total Market 1,287 1,262 25.7 2.0% Baltics (incl. Kaliningrad) 606.9 635.0 -28.2 -4.4% -incl terminals of Saint-Petersburg and area 508.0 576.4 -68.4 -11.9% Northern Ports 36.8 38.5 -1.7 -4.3% South 239.7 223.6 16.1 7.2% Far East 403.8 364.4 39.4 10.8% ENQUIRIES Global Ports Investor Relations Global Ports Media Relations Mikhail Grigoriev / Tatiana Khansuvarova Margarita Potekhina +7 (812) 677 15 57 +7 (812) 677 15 57 ext. 2889 +7 916 991 73 96 E-mail: [email protected] E-mail: [email protected] Teneo Zoë Watt / Douglas Campbell +44 20 7260 2700 E-mail: [email protected] NOTES TO EDITORS Global Ports Investments PLC is the leading operator of container terminals in the Russian market by 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 Dik3 in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland4 (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino 1 Company estimates based on 2020 throughput and the information published by the “ASOP”. 2 In which Eurogate currently has a 20% effective ownership interest. 3 Joint venture in which CMA Terminals currently has a 25% effective ownership interest. 4 Joint ventures in each of which CMA Terminals currently has a 25% effective ownership interest. 2 Logistics Park5 located in the vicinity of St. Petersburg. Global Ports’ revenue for 2020 was USD 384.4 million and Adjusted EBITDA was USD 209.7 million. Consolidated Marine Container Throughput was 1,533 thousand TEU in 2020. Global Ports’ major shareholders are Delo Group, the largest intermodal container and port operator in Russia6 (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operate a terminal network of 75 terminals globally. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR). 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 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. DEFINITIONS First Container Terminal (FCT) is located in the St. Petersburg harbour, Russia’s primary gateway for container cargo and is one of the first specialised container terminals established in Russia. The Global Ports Group owns a 100% effective ownership interest in FCT. The results of FCT are fully consolidated. Moby Dik (MD) is located on the St. Petersburg ring road, approximately 30 kilometres from St. Petersburg, at the entry point of the St. Petersburg channel. It is the only container terminal in Kronstadt. The Global Ports Group owns a 75% effective ownership interest in MD, CMA Terminals currently has a 25% effective ownership interest. The results of MD are accounted in the Global Ports’ financial information using the equity method of accounting (proportionate share of net profit shown below EBITDA). Petrolesport (PLP) is located in the St. Petersburg harbour, Russia’s primary gateway for container cargo. The Group owns a 100% effective ownership interest in PLP. The results of PLP are fully consolidated. Ro-Ro, roll on-roll off is cargo that can be driven into the belly of a ship rather than lifted aboard. Includes cars, buses, trucks and other vehicles. Revenue per TEU is defined as the Global Ports Group’s Consolidated Container Revenue divided by total Consolidated Container Marine Throughput. 5 Joint venture in which CMA Terminals currently has a 25% effective ownership interest. 6 According to publicly available data at www.delo-group.com. 3 TEU is defined as twenty-foot equivalent unit, which is the standard container used worldwide as the uniform measure of container capacity; a TEU is 20 feet (6.06 metres) long and eight feet (2.44 metres) wide and tall. Ust Luga Container Terminal (ULCT) is located in the large multi-purpose Ust-Luga port cluster on the Baltic Sea, approximately 100 kilometres westwards from St. Petersburg city ring road. ULCT began operations in December 2011. The Global Ports Group owns an 80% effective ownership interest in ULCT, Eurogate, the international container terminal operator, currently has a 20% effective ownership interest. The results of ULCT are fully consolidated.
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