DOCSLIB.ORG

Demonstrating Resilience, Achieving Results

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Demonstrating Resilience, Achieving Results Annual Report 2020 DEMONSTRATING RESILIENCE, ACHIEVING RESULTS Global Ports Investments PLC KEY STRENGTHS No. container terminal operator in Russia1 2020 RESULTS GLOBAL PORTS marine LTIFR container The lowest on record for the Group TODAY and multipurpose terminals in Russia and Finland Despite the unparalleled challenges that both The only player with a network Russia and the world faced in 2020, Global Ports of terminals in key container gateways of Russia proved that its business is fundamentally stable, Consolidated Marine Container Throughput sustainable and cash generative. vs –0.8% Russian container market in 2020 Over the year the Group continued to deliver excellent quality of operations, launching a range Unique partnership of strategic shareholders: of new services and supporting its clients in this a global leader and a strong local player, APM uncertain time, increased its market share and Terminals and Delo Group each with decreased leverage level. In 2020 the Group outperformed the Russian Consolidated Marine Bulk Throughput increased to 5.1 million tonnes container market for the third year in a row with outstanding growth of 6.6% against a market of total share capital decline of 0.8%. The Group demonstrated strong financial results in 2020 achieving like-for-like2 Adjusted EBITDA GDR listed on the Main Market Margin growth of 65.2% and stable high Free mln of the LSE (free-float of 20.5%) Cash Flow at USD 157.1 million. The lowest level of Net Debt Adjusted EBITDA to Adjusted EBITDA in 8 years The Group continued its deleveraging strategy and decreased Net Debt / EBITDA by 0.4 to 2.9x supporting its eventual path towards resumption Sustainable and responsible of dividends once targets have been achieved. business: MSCI ESG rating at BB level, Sustainalytics Credit ratings by all rating agencies that rate estimated Global Ports' risk the Group and its financial instruments with stable of material financial impacts mln outlook were reaffirmed in 2020: Fitch Ratings driven by ESG factors Like-for-like2 Adjusted EBITDA Margin Free Cash Flow at BB+, Moody’s at Ba2, RA Expert at RuA+. at medium level 2 Like-for-like is an adjusted growth metric calculated on management accounts: cash cost and revenue for 2020 and 2019 adjusted for VSC transportation Information (including non-IFRS financial measures) services. As a result of the new terms of certain sales agreements, in 2020 VSC requiring additional explanation or terms which begin acted as a principal vs as an agent at the beginning of 2019: previously the net result of revenue from transportation services and associated costs was included with capital letters and the explanations or definitions in the consolidated revenue. Since the middle of 1H 2019 full revenue and thereto are provided at the end of this report. associated costs have been recognized in consolidated revenue and transportation expenses accordingly. This Adjusted EBITDA neutral change resulted in additional Certain financial information is derived from 1 In terms of container throughput and container handling USD 62.8 million to consolidated revenue (USD 11.4 million in 2019) and USD the management accounts. capacity, based on ASOP data for 2020. 62.8 million (USD 11.4 million in 2019) to cost of sales in 2020. 2 Global Ports Investments PLC Annual Report 2020 globalports.com 3 08 66 About Us. Performance Corporate Governance 10 72 Key Milestones Board of Directors 12 78 Strong Presence Executive Management in Russia’s Key Container and Bulk 81 Gateways Terminal Directors 85 Risk Management 16 Management Report and Consolidated Chairman’s Statement Financial Statements 20 Chief Executive Officer’s Statement 24 Delivering Quality and Leadership Management Report and Parent 25 Company Financial Statements Strategy 26 Business Model 28 Business Review 52 Environmental, Social and Governance 4 Global Ports Investments PLC Annual Report 2020 globalports.com 5 1 Global Ports at a Glance 2 GLOBAL PORTS Strategic Report 3 Corporate Governance AT A GLANCE 4 Consolidated Financial Statements 5 Parent Company Financial Statements 6 Additional Information 8 10 12 About Us. Key Strong Performance Milestones Presence in Russia’s Key Container and Bulk Gateways 6 Global Ports Investments PLC Annual Report 2020 globalports.com 7 Ownership Structure, % Consolidated Marine Container Consolidated Marine Bulk Net Debt / Adjusted EBITDA Throughput, mln TEU Throughput, mln tonnes +6.6% +38.7% 2020 1.53 5.1 1.44 X 3.7 2.9 2019 1 2 ABOUT US. X 3 4 2019 2020 2019 2020 3.3 5 PERFORMANCE 6 Key consolidated financial and operational data Delo Group 30.75% APM Terminals 30.75% 2020 2019 Change Change, % Selected IFRS financial information, USD mln In a very challenging 2020, the Group’s clear Ilibrinio Establishment Limited 9% strategy proved to be the right one enabling Revenue 384.4 361.9 22.6 6.2% Global Ports, with its well equipped terminals Polozio Enterprises Limited 9% Cost of sales and administrative, selling and ready infrastructure for handling full export and marketing expenses -225.0 -187.3 -37.7 20.1% containers, to take advantage of its strategic Free float (LSE listing) 20.5% Gross profit 184.1 210.1 -25.9 -12.4% position in the two key marine gateways Operating profit 157.4 144.8 12.6 8.7% of Russia. Delo Group is one of the largest transportation and Net profit / (loss) 50.0 67.7 -17.7 -26.1% A continued focus on driving efficiency, logistics holding companies in Russia1. The Group’s productivity, and innovation across all operations stevedore business includes DeloPorts stevedore Selected operational information was matched by a relentless focus on clients’ holding, the leading operator of port container Consolidated Marine Container throughput, mln TEU 1.53 1.44 0.1 6.6% needs through providing technological solutions terminals Global Ports and TransContainer, Consolidated Marine Bulk throughput, mln TEU 5.1 3.7 1.4 38.7% and the highest service standards in the industry. leading rail operator in Russia, owner of 38 railway Ro-Ro, thousand units 20.3 20.0 0.3 1.3% container terminals, more than 32,000 containers Supported by our co-controlling shareholders, and 86,000 flatcars. Cars, thousand units 82.0 103.3 -21.3 -20.6% a unique partnership of an international industry leader and a strong domestic player: APM APM Terminals operate a global terminal network Balance sheet and cash statement, USD mln Terminals and Delo Group each with 30.75% of 20,000 professionals with 75 operating port Total assets 1,327.2 1,454.3 -127.1 -8.7% of total share capital. facilities. APM Terminals is a part of A.P. Moller- Cash and cash equivalents 207.0 124.4 82.6 66.4% Maersk, the world’s largest integrator of container Net cash from operating activities 190.9 185.4 5.5 3.0% These attributes and strategic decisions enabled and ports logistics. the Group to demonstrate resilience, increase container and bulk throughput to protect market Ilibrinio Establishment Limited and Polozio Selected non-IFRS financial information, USD mln share as well as increase like-for-like Adjusted Enterprises Limited (former owners of NCC Group) Like-for-like Revenue* 321.7 350.5 -28.8 -8.2% EBITDA Margin and continue deleveraging. each own 9% of the share capital of Global Ports. Total Operating Cash Costs -176.0 -136.7 -39.3 28.7% Like-for-like Total Operating Cash costs* -113.2 -125.3 12.1 -9.7% Adjusted EBITDA 209.7 226.9 -17.2 -7.6% Free Cash Flow, Like-for-like Adjusted EBITDA Margin,2 Like-for-like Adjusted EBITDA Margin* 65.2% 64.8% USD mln % Free Cash Flow 157.1 158.8 -1.8 -1.1% –1.1% Net Debt 612.1 747.0 -134.9 -18.1% 158.8 157.1 64.8% 65.2% Net Debt to Adjusted EBITDA 2.9x 3.3x -0.4 -11.3% 1 According to Delo Group data. 2 As a result of the new terms of certain sales agreements, in 2020 VSC acted as a principal vs as an agent at the beginning of 2019: previously the net result of revenue from transportation services and associated cost was included in the consolidated revenue. Since the middle of 1H2019 full revenue and associated costs have been recognized in consolidated revenue and transportation expenses accordingly. This Adjusted EBITDA neutral change resulted 2019 2020 2019 2020 in additional USD 62.8 million to consolidated revenue (USD 11.4 million in 2019) and USD 62.8 million (USD 11.4 million in 2019) to cost of sales in 2020. 8 Global Ports Investments PLC Annual Report 2020 globalports.com 9 June November Global Ports launched April a service for the digital VSC handled 44.6 thousand issuance of orders for the TEU, marking the terminal’s Global Ports started the loading of export containers historical record in container 1 reporting of quarterly at FCT, making FCT the first volume over one calendar 2 KEY MILESTONES operational trading Russian terminal to transfer month, surpassing the 3 on an ongoing basis. to a fully paperless export previous highest result of 43.5 4 An important step in keeping management system. September thousand TEU that was set 5 with the Group’s continuing in April 2014. 6 focus on increasing Four new TOYOTA forklifts VSC and TransContainer transparency with the market were added to the equipment launched regular Global Ports launched and aiming to achieve best fleet at VSC as part of its weekly container train a regular container train practice communication handling equipment and shipments from Nakhodka service from VSC in the and engagement with all operating facility upgrade Vostochnaya station bound Primoriye Region to Yanino stakeholders.
Load more

Recommended publications
  • Russian M&A Review 2017
    Russian M&A review 2017 March 2018 KPMG in Russia and the CIS kpmg.ru 2 Russian M&A review 2017 Contents page 3 page 6 page 10 page 13 page 28 page 29 KEY M&A 2017 OUTLOOK DRIVERS OVERVIEW IN REVIEW FOR 2018 IN 2017 METHODOLOGY APPENDICES — Oil and gas — Macro trends and medium-term — Financing – forecasts sanctions-related implications — Appetite and capacity for M&A — Debt sales market — Cross-border M&A highlights — Sector highlights © 2018 KPMG. All rights reserved. Russian M&A review 2017 3 Overview Although deal activity increased by 13% in 2017, the value of Russian M&A Deal was 12% lower than the previous activity 13% year, at USD66.9 billion, mainly due to an absence of larger deals. This was in particular reflected in the oil and gas sector, which in 2016 was characterised by three large deals with a combined value exceeding USD28 billion. The good news is that investors have adjusted to the realities of sanctions and lower oil prices, and sought opportunities brought by both the economic recovery and governmental efforts to create a new industrial strategy. 2017 saw a significant rise in the number and value of deals outside the Deal more traditional extractive industries value 37% and utility sectors, which have historically driven Russian M&A. Oil and gas sector is excluded If the oil and gas sector is excluded, then the value of deals rose by 37%, from USD35.5 billion in 2016 to USD48.5 billion in 2017. USD48.5bln USD35.5bln 2016 2017 © 2018 KPMG.
    [Show full text]
  • Deloports 1 54 — 102 Financial Statements Annual Report 2016
    54 — 102 DeloPorts Financial Annual Report Statements 2016 1 4 — 5 6 — 7 8 — 9 10 — 43 44 — 53 About Key Business Strategic Governance DeloPorts Figures Model Report Report ANNUAL REPORT 2016 2 4 — 5 6 — 7 8 — 9 10 — 43 44 — 53 54 — 102 DeloPorts About Key Business Strategic Governance Financial Annual Report DeloPortsDeloPorts Figures Model Report ReportReport Statements 2016 ABOUT TOTAL NUTEP Change DELOPORTS +10.2% in relation TURNOVER to 2015 CONTAINER TERMINAL DELOPORTS IS A MAJOR RUSSIAN TRANSPORTATION HOLDING THAT CONSOLIDATES THE STEVEDORING ASSETS OF DELO GROUP IN THE SOUTHEASTERN CARGO AREA MLN IN NOVOROSSIYSK OF NOVOROSSIYSK PORT. THESE INCLUDE NUTEP CONTAINER TERMINAL, KSK T IN 2016 (#2 IN 2015) GRAIN TERMINAL AND DELO SERVICE COMPANY. 6.0 #1 CONSOLIDATED KSK Page 8 More about the business model REVENUES +0.4% GRAIN TERMINAL RUB IN RUSSIA COMPANY STRUCTURE BLN IN 2016 (#3 IN 2015) NUTEP DELO KSK 7.8 #2 container terminal service company grain terminal CONSOLIDATED EBITDA +17.8% 100% 100% 75% 25% RUB Leading producer and supplier of foods and BLN agriculture products 5.8 CONTENTS 04–09 10–43 44–53 54–102 ABOUT STRATEGIC REPORT GOVERNANCE REPORT FINANCIAL STATEMENTS DELOPORTS 10 Key Events of 2016 22 Operational Review 46 Governance System KEY 12 Chairman's Statement 28 Financial Review 48 Board of Directors FIGURES 14 Chief Executive Officer's Review 32 Investment Projects 52 Investor Relations BUSINESS MODEL 16 Strategic Priorities 34 Principal Risks 18 Market Review: Containers 36 Social Responsibility 20 Market Review: Grain Export 4 5 4 — 5 6 — 7 8 — 9 10 — 43 44 — 53 54 — 102 DeloPorts About Key Business Strategic Governance Financial Annual Report DeloDeloPortsPorts Figures Model Report RReporteport Statements 2016 KEY FIGURES REVENUES, RUB BLN EBITDA, RUB BLN EBITDA MARGIN, % CAPEX, RUB BLN +0.4% +17.8% +11p.p.
    [Show full text]
  • Seaports in Russia
    SEAPORTS IN RUSSIA FLANDERS INVESTMENT & TRADE MARKET SURVEY Russian seaports November 2015 André DE RIJCK, Vlaams Economisch Vertegenwoordiger in Moskou Economic Representation of Flanders c/o Embassy of Belgium Mytnaya st. 1, bld.1, entrance 2, 119049 Moscow, RUSSIA T: +7 499 238 60 85/96 | F: +7 499 238 51 15 [email protected] Table of Contents Introduction .............................................................................................................................................................................................. 3 Russian largest seaports top-7 by cargo turnover ........................................................................................................... 4 Brief analysis of seaport infrastructure in Russia............................................................................................................. 4 Dynamics of cargo turnover of Russian seaports (2010-2014 yy in mln.tons) ................................................. 5 Cargo turnover structure in 2014 (mln tons, “%” year–on–year changes compared to 2013) ............... 6 The dynamics of cargo turnover by essentials categories in 2013-2014 yy. (in mln.tons) ......................... 7 Structure of the cargo turnover by category in 2014 ..................................................................................................... 8 The cargo turnover structure by Russian ports in 2014 in mln.tons ..................................................................... 9 Russian seaports market share structure
    [Show full text]
  • Annual Report the Nature of Leadership
    ANNUAL REPORT 2019 THE NATURE OF LEADERSHIP 2019 ANNUAL REPORT PJSC TransContainer | Annual report 20191 1 1 3 Contents STRATEGIC MARKET CORE SOCIAL CORPORATE FINANCIAL REPORT OVERVIEW ACTIVITIES RESPONSIBILITY GOVERNANCE REPORT 8 Company Profile 24 Global Container 38 Services 60 Human Resources 80 Corporate Governance 140 Financial Results Shipping Market System 10 Business Model 50 Client Service 69 Environmental 152 Statement of the Audit 26 Russian Rail Container and Sales Management 102 Corporate Governance Committee 12 Strategy Transportation Model 153 Market 56 Quality Control 73 Procurement Directors’ Responsibility 117 Key Performance Indicator Statement 33 The Company’s Position 75 Charity System 154 in the Industry Consolidated Statement of 118 Remuneration Report Financial Position under IFRS 120 Control System 127 Risk Management 131 Disclosure of Information and APPENDICES Interaction with Shareholders and Investors 228 Report on Compliance 298 The Structure of Remuneration with the Corporate for the Members of Executive Governance Code Bodies and Management 261 Major and Interested Party 300 GRI Content Index Transactions 304 Administrative Details 268 Corporate Risk Map PJSC TransContainer | Annual report 2019 1 Strategic Report Market Overview Core Activities Social Responsibility Corporate Governance Financial Report Appendices PRELIMINARILY APPROVED BY THE BOARD OF DIRECTORS Disclaimer OF TRANSCONTAINER ON 9 April 2020. Meeting Minutes No. 20. This Annual Report (the “Annual Report”) has been and other forward-looking statements may prove prepared using the information available to the Public unjustified. In light of these risks, uncertainties, APPROVED BY THE ANNUAL GENERAL SHAREHOLDERS Joint Stock Company Center for Cargo Container Traffic and assumptions, the Company warns that actual MEETING OF TRANSCONTAINER ON 14 May 2020.
    [Show full text]
  • Novorossiysk Office03
    P & I REVIEW – RUSSIAN FEDERATION Prepared by Denis Shashkin Deputy Manager of Novorossiysk Branch CIS PandI Services Ltd Novorossiysk, 2016 CONTENT: 1. General review of Taman ports and Anchorages 2. Terminals at Port of Taman 3. Ballast Change 4. Sewage, Black, Grey Water Discharging 5. Turkish Crew Problems HEAD OFFICE OFFICES : Sakhalin P.O.Box 54189. Moscow Odessa Suite 102, 118 Anexartisias Str., Novorossiysk Kiev 3040 Limassol, St.Petrsburg Izmail Cyprus Murmansk Mariupol Tel: +357 (25) 763 340 Klaipeda Tashkent Fax: +357 (25) 763 360 Tallinn Alma-Ata Email: [email protected] Vladivostok Shanghai Web: www.cispandi.com Nakhodka Phnom Penh 1. GENERAL REVIEW OF TAMAN PORTS & ANCHORAGES OF SOUTH BLACK SEA COAST (Russia) In view of the increased turnover of cargoes through the South sea gates of Russian Federation, there is a development of new ports in addition to the traditional ports such as Novorossiysk and Tuapse ports as well as limited area of Azov sea and adjacent rivers. Main area of development is Taman peninsula and adjacent anchorages. Transfers of dry bulk and liquid cargoes make this area very busy. The transhipments in these areas are mostly related to the export of cargoes, however, for some cargoes such as containers – there are also import transhipments. 3 main areas are active and busy with the cargo operations: Anchorage 451, OPL Kavkaz and Port of Taman: 2 Anchorage 451 of port of Kavkaz STS port Kavkaz at road no. 451. The cargo operations There are no authorities regulating activity in this area, so are effected on/from self-driven barges/small vessels (DW up the governing law there is that valid in the open sea.
    [Show full text]
  • Corporate Presentation
    Global Ports Investments PLC Corporate Presentation January 2018 1 Definitions for terms marked in this presentation with capital letters are provided in the Appendices at pages 27-28 DISCLAIMER Information contained in this presentation concerning Global Ports Investments PLC, a company organised and existing under the laws of Cyprus (the “Company”, and together with its subsidiaries and joint ventures, “Global Ports” or the “Group”), is for general information purposes only. The opinions presented herein are based on general information gathered at the time of writing and are subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. These materials may contain forward-looking statements regarding future events or the future financial performance of the Group. You can identify forward looking statements by terms such as “expect”, “believe”, “estimate”, “anticipate”, “intend”, “will”, “could”, “may”, or “might”, the negative of such terms or other similar expressions. These forward-looking statements include matters that are not historical facts and statements regarding the Company’s and its shareholders’ intentions, beliefs or current expectations concerning, among other things, the Group’s results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that the Group’s actual results of operations, financial condition, liquidity, prospects, growth, strategies and the development of the industry in which the Company operates may differ materially from those described in or suggested by the forward-looking statements contained in these materials.
    [Show full text]
  • From Good Foundations to Greater Potential
    From Good Foundations to Greater Potential ANNUAL REPORT 2014 DeloPorts Limited (DeloPorts) is an independent stevedoring holding company operating in the Port of Novorossiysk in the south east region of the Black Sea in Russia. The Company owns a container terminal, a grain terminal and a bunkering services company. DeloPorts was established in 2012 through consolidation of Delo Group1 stevedore assets. DeloPorts 100% 75% 100% NUTEP KSK TOS container terminal grain terminal bunkering company 2 350,000TEU 3.5mln tonnes 200,000tonnes Cargill Leading producer and supplier of food and agricultural products 25% key data 6.5mln tonnes 198.1mln USD 100.0mln USD Total cargo throughput in 2014 Consolidated revenues in 2014 EBITDA in 2014 +35% YoY growth +34% YoY growth +78% YoY growth 9mln tonnes 9 42ha Total throughput capacities Total berths and protections Total terminal area 1 Established in 1993, Delo Group is one of the largest private transportation groups in Russia. The Group consists of stevedore services in the Port of Novorossiysk, 3PL container cargo transhipment services and railway transportation via own rolling stock 2 TEU – Twenty-foot Equivalent Unit, the standard unit of measure for the capacity of a standard shipping container (6.06 х 2.44 х 2.44 m) Contents ABOUT DELOPORTS GOVERNANCE Our business model 02 Our approach 28 Key financial indicators 04 Management 28 2014 developments 05 Shareholder structure 05 Message from the founding shareholder 06 Message from the CEO 08 Customer focus 10 See See detailed information about
    [Show full text]
  • Militarization of the Black Sea Region After An- the Alliance in Wales and Warsaw
    Black Sea Security CONTENTS Analytical journal Foreword 2 2 (38) 2019 Focus on: Countering Russia’s Aggression License of the Ministry of Justice of Ukraine THE MARITIME EXPERT PLATFORM KV No. 23053-12893PR ASSOCIATION: FOR URGENT ACTIONS TO DE-OCCUPY CRIMEA AND COUNTER 6 of December 11, 2017 THE OCCUPATION OF THE SEA OF AZOV Publisher – Centre for Global Studies AND THE BLACK SEA “Strategy XXI” (Kyiv) Focus on: Enemy at the Black Sea Theater of Operations Language – Ukrainian and English Yurii Bakai, Anatolii Burgomistrenko, Sergii Gaiduk 14 Underwater Space OF THE UKRAINIAN Contacts: SEA: CHALLENGES AND Threats Centre for Global Studies Strategy XXI Focus on: Enemy at the Black Sea Theater 51 Shchekavytska Str, of. 26, of Operations Kyiv, 04071, Ukraine Sergii Mukhrynskyi THE BLACK SEA FLEET OF THE RUSSIAN 26 Tel: +380 44 425 41 62 Federation: THE SOVIET FLEET BEHIND Web-site: www.geostrategy.org.ua THE PAINTED FACADE E-mail: [email protected] Focus on: Ukrainian Navy Ihor Kabanenko, Andrii Ryzhenko 34 EDITORIAL BOARD: THE Naval FORCES OF UKRAINE: TIME to ACT Mykhailo Gonchar, Editor-in-Chief Focus on: Regional Problems Vitalii Martyniuk, Executive Secretary Nika Chitadze 40 Pavlo Lakiychuk, Deputy Editor ROLE OF THE BLACK SEA AND Baltic REGIONS IN THE WORLD POLITICS Oksana Ishchuk, member of board Focus on: New Views on Old Problems Igor Stukalenko, member of board Andrii Ryzhenko, Bohdan Ustymenko Oksana Lesnyak, Head of Bureau on East Asia THE MONTREUX CONVENTION: 52 GEOGRAPHICAL LIMITS OF Application. Tantely Ratovohery, Head of Bureau on South Asia THE NEW VIEW OF AN OLD PROBLEM Focus on: Russia from inside Members of the editorial board Oleksii Bessarabov Yurii Fedorov 57 and Dmytro Shtyblykov are political prisoners RUSSIA: CRISIS SCENARIOS of the Kremlin.
    [Show full text]
  • Global Ports Investments Plc MANAGEMENT REPORT AND
    Global Ports Investments Plc MANAGEMENT REPORT AND PARENT COMPANY FINANCIAL STATEMENTS 31 DECEMBER 2020 Global Ports Investments Plc Table of Contents Board of Directors and other officers .......................................................................................................... 1 Management report .................................................................................................................................... 3 Directors’ Responsibility Statement .......................................................................................................... 26 Statement of comprehensive income for the year ended 31 December 2020 ........................................... 27 Balance sheet as at 31 December 2020 ................................................................................................... 28 Statement of changes in equity for the year ended 31 December 2020 .................................................... 29 Statement of cash flows for the year ended 31 December 2020............................................................... 30 Notes to the financial statements ............................................................................................................. 31 1. General information .................................................................................................................. 31 2. Summary of significant accounting policies .............................................................................. 31 3. Financial risk management .....................................................................................................
    [Show full text]
  • STEADY PROGRESS Global Ports Investments PLC Annual Report 2017 GLOBAL PORTS RUSSIA’S LEADING CONTAINER TERMINAL OPERATOR BASED on THROUGHPUT and CAPACITY
    STEADY PROGRESS Global Ports Investments PLC Annual Report 2017 GLOBAL PORTS RUSSIA’S LEADING CONTAINER TERMINAL OPERATOR BASED ON THROUGHPUT AND CAPACITY IN THIS REPORT Overview Corporate Governance Parent Company 1-5 28-45 Financial Statements Key Strengths 1 Corporate Governance 30 1-43 About Us 2 Board of Directors 32 Directors’ Report and Parent Company Executive Management 38 Financial Statements 1 Strategic Report Terminal Directors 40 6-27 Risk Management 42 Additional Information Chairman’s Statement 8 1-4 Chief Executive Officer’s Statement 10 Consolidated Directors’ Responsibility Statement 1 Market Overview 12 Financial Statements Definitions 2 Strategy 14 Shareholder Information 1-69 and Key Contacts 4 Business Review 16 Directors’ Report and Consolidated Corporate Social Responsibility 25 Financial Statements 1 OVERVIEW KEY STRENGTHS 7 No.1 marine container terminals container terminal in Russia and Finland 1 operator in Russia 2 Limited CAPEX requirements due to well invested Undisputed industry leader in Russia in terms of throughput terminals and available container capacity. and capacity covering 2 major sea basins. 1.2m 2.7m TEU– consolidated marine tonnes of consolidated container throughput in 2017 marine bulk throughput Handling almost one in three containers A record result for the Group as 2017 share entering and coming in and out of the country. of non-container revenues increased to 23%. HIGHLIGHTS OF THE YEAR 27% USD146m 7% reduction in LTIFR Free Cash Flow generated increase in consolidated by the Group container throughput 22% USD81m USD484m increase in Group’s reduction in Group reduction in Group Net Debt consolidated bulk cargo Net Debt over last five years (2013-2017) throughput Delo Group 3 APM Terminals Ilibrinio Establishment Ltd Free-float (LSE listing) Polozio Enterprises Ltd APM Terminals operates a global terminal network of 22,000 professionals with 74 operating 20.5% port facilities and 117 Inland Services operations in 58 countries around the globe.
    [Show full text]
  • Containerization of the Baltic
    CONTAINERIZATION OF THE BALTIC SEA - A COMPETITIVE PERSPECTIVE inspired by challenges of rivalry and interchange between the gateways of Kattegat/The Sound and Gdansk Bay Centre for Regional Analysis (CRA) School of Business, Economics and Law at University of Gothenburg Sten Lorentzon www.cra.handels.gu.se Working Paper 2014:1 CONTENTS Page Introduction 1 Approach 2 Background 5 Containerization; development of ships and ports 9 Main ports of northern Europe – an overview 10 Main ports of the Baltic Sea – an overview 12 Gateways of the Baltic Sea – competitive perspective 18 Ports of Gothenburg and Gdansk/Gdynia – 23 competition and cooperation Functions of the ports 23 Competitive challenges 25 Cooperative challenges 27 Concluding remarks 29 Appendix A: Baltic Link 34 Appendix B: Cargo ships in movement to destinations 35 in the Baltic Sea Appendix C: Ships of more than 200 metres length in the 36 Baltic Sea in movement northwards to Baltic destinations Appendix D: Flows of traffic of cargo ships with marking of 38 number of passages in both directions in 2011. References 39 Preface The introduction of new big container ships sends waves on established transport systems and illustrates the need to satisfy the demand for ports enabling efficient loading and unloading. This study is an attempt to throw light on the impact of containerization on the accessibility of ports at the Baltic Sea with attention paid to the changing conditions after the fall of the Wall. Former locked in areas have become hinterlands of ports serving the international market. EU has strengthened this integration in efforts made in Interreg-programs exemplified by the Baltic Link stretching from Trondheim in the North via Gothenburg to Adriatic ports in the South.
    [Show full text]
  • Development of the Russian Sea Port Infrastructure. Automotive Logistics
    Development of the Russian Sea Port Infrastructure. Automotive Logistics. Container Logistics in Russia. ɝ. ɋɚɧɤɬ-ɉɟɬɟɪɛɭɪɝ, ɭɥ. ɉɨɥɢɬɟɯɧɢɱɟɫɤɚɹ, ɞ. 29 Ɍɟɥɟɮɨɧ: (812) 333-13-10, Ɏɚɤɫ: (812) 333-13-11 e-mail: [email protected] www.morproekt.ru 1 Morstroytechnology, LLC (MST for short) Our engineering background contributes to the approach to logistic analysis. We focus on: Pre-Design Research: Feasibility Study, Business Planning, Development Concepts etc. ; Engineering and Design: • universal and dedicated port terminals (general cargo, container, dry bulk, liquid bulk etc.); • logistic centers and related infrastructure; • optimization of hydraulic constructions Supervision; General Design; Consulting and Engineering; Berths and Buildings Survey; Engineering Survey; Marketing Research, traffic forecasting; Logistic Strategy; Logistic Optimization; Feasibility Study http://www.morproekt.ru/ 2 Plan Changes in Logistic and Infrastructure. Transformation of the Soviet Transport System «Renaissance» of Port Construction in 1990-2000. Growth Factors Review of Cargo Flows. Modal Split Russian Transport System Geography Baltic Sea. Throughput of the Baltic Sea Ports Main Development Projects in the Inner Harbors of St. Petersburg St. Petersburg Outer Ports Development Projects Ports Ust-Luga, Vysotsk, Kaliningrad Russian Transport System Geography – Arctic. Throughput of the Arctic Ports Murmansk Transport Node. Development of SCP Murmansk, Lavna, Sabetta Terminal at Cape Kamenniy – Branch of Sabetta Port Black and Azov Seas. Ports’ Throughput Ports Taman, Novorossiysk Caspian Sea. Ports’ Throughput Far Eastern Ports. Ports’ Throughput Coal terminals at the Far East – Vostochny, Vanino, others Oil and oil products terminals on the Far East of Russia Disproportion of Sea Port and Railway Infrastructure Russian Automotive Logistics Market Russian Container Market http://www.morproekt.ru/ 3 Long-period Changes in Logistic and Infrastructure.
    [Show full text]