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Base Document \ For immediate release 16 July 2021 Global Ports Investments PLC Q2 and H1 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 Q2 and H1 2021. Highlights ● Strong market growth seen in Q2 2021 as the overall Russian container market grew by 13.3 % to 1.38 million TEU, driven by both the accelerating growth of full containerised import (+26.0% y- o-y) and the continued growth of containerised export (+3.9% y-o-y). ● As a result of the sharp increase in freight rates in the global container shipping market in H2 2020 and a deficit of empty containers globally, during Q2 2021 market players preferred faster container import and export supply chains with the shortest sea leg. As a result, Q2 market growth was concentrated in the Far Eastern basin (Q2 2021: +18.1% y-o-y) and the Southern basin (Q2 2021: +11.2% y-o-y). Nonetheless, combined throughput of terminals located in Saint Petersburg and the surrounding area demonstrated signs of recovery with Q2 2021 volumes up 4.3% y-o-y after an 11.9% y-o-y decline in Q1 2021. ● As a result of the strong growth seen in Q2 2021 the growth of the Russian container market accelerated to 7.6% y-o-y in H1 2021 with throughput at Far Eastern terminals increasing 14.7% y- o-y, Southern terminals increasing by 9.1% y-o-y, while the growth of combined throughput of terminals located in Saint Petersburg and the surrounding area in Q2 2021 was not sufficient to compensate for the decline in Q1 2021, resulting in 4.2% y-o-y decline for the first six months of 2021. ● The Group successfully maintained its market share position in Q2 2021 in all its basins with throughput at VSC boosting by 23.4% y-o-y in Q2 2021 (outperforming the Russian Far East market increase of +18.1%) and throughput of its terminals in the Baltic Basin growing by 4.4% y-o-y in Q2 2021 (vs a market growth of 4.3%). In total, Consolidated Marine Container Throughput increased by 10% y-o-y in Q2 2021 to 418 thousand TEUs. ● The Group’s Consolidated Marine Container Throughput increased by 1.9% y-o-y in H1 2021 to 789 thousand TEUs. ● The Group’s Consolidated Marine Bulk Throughput increased by 16.2% y-o-y to 1.37 million tonnes in Q2 2021, driven by the solid recovery in global coal demand and high growth of fertilisers and scrap metal handling at PLP (H1 2021: growth of 19.0% y-o-y). ● Heavy Ro-ro handling demonstrated a continued recovery in Q2 2021 with a 56.4% growth to 6.9 thousand units. Car handling was also strong in Q2 2021 with an 66.4% growth to 26.1 thousand units. ● On the back strong growth of the market in the Far East, the decision has been made to gradually cease coal handling at VSC and concentrate on the Group’s core strategic operations of driving container volumes. This decision will enable the Group to decrease its environmental impact from the third quarter of 2021 and capture the growth opportunity presented by the increased sustained demand for container import and export flows as well as steadily growing transit volumes seen at VSC. 1 Albert Likholet, CEO of Global Ports Management, commented: “Over the period, the Russian container market was strong in all segments and across all basins as rapid import recovery, continuing growth of full export, and booming transit volumes has enabled an acceleration of its growth in Q2. We are also pleased to see that the Baltic basin has started to catch up with the overall market performance and that the Group’s terminals grew faster than the market in the Far East basin and Saint-Petersburg area during the second quarter. “Our agile asset base has always meant that Global Ports has been well-placed to navigate any challenges and benefit from any market uplift, and we have remained adaptable, taking an opportunistic approach to additional revenue streams. Furthermore, the impact that our business has on the environment has always been an important consideration for us. VSC container handling growth in the second quarter of 2021 was 23.4% y-o-y with the terminal posting the highest monthly container volumes in its history so far this year, and we see further growth potential to come. Therefore, in the current environment, it makes strategic sense to prioritise container volumes in the Far East, delivering a lower environmental impact, which has always been at the core of our Group strategy”. Q2 Q2 Change H1 H1 Change 2021 2020 Abs % 2021 2020 Abs % Global Ports Consolidated Results Consolidated Marine Container Throughput 418 380 38 10.0% 789 774 15 1.9% (kTEU) FCT 164 151 13 8.9% 321 322 0 -0.1% PLP 109 105 4 3.9% 202 213 -11 -5.0% VSC 138 112 26 23.4% 250 213 38 17.8% ULCT 7 13 -6 -46.6% 15 27 -12 -44.4% Non-containerised cargo Ro-ro (thousand units) 6.9 4.4 2.5 56.4% 13.0 8.9 4.1 45.6% Cars (thousand units) 26.1 15.7 10.4 66.4% 54.6 33.7 21.0 62.3% Bulk cargo (thousand 1,365 1,175 190 16.2% 2,623 2,204 419 19.0% tonnes) Joint ventures Containerised cargo, kTEU Finnish Ports 19.7 25.7 -6.0 -23.3% 39.8 50.5 -10.7 -21.2% Yanino (inland terminal) 21.8 21.7 0.1 0.5% 39.3 45.7 -6.4 -14.0% Bulk cargo throughput, thousand tonnes Moby Dik 89.4 61.8 27.6 44.7% 141.9 117.6 24.3 20.7% Yanino 93.5 64.2 29.3 45.7% 178.7 142.1 36.7 25.8% Russian Container Market, kTEU Total Market 1,382 1,219 163 13.3% 2,669 2,481 189 7.6% Baltics (incl. Kaliningrad) 652 582 70 12.0% 1,259 1,217 42 3.4% -incl terminals of Saint- 545 522 22 4.3% 1,053 1,099 -46 -4.2% Petersburg and area Northern Ports 31 34 -3 -8.7% 68 73 -5 -6.3% South 214 193 22 11.2% 454 416 38 9.1% Far East 484 410 74 18.1% 888 775 114 14.7% 2 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 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 1 Company estimates based on 2020 throughput and the information published by the “ASOP”.
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