Novorossiysk Commercial Sea Port (NMTP)

Earnings Release • Jun 20, 2019

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PJSC 'Novorossiysk Commercial Sea Port' (NCSP)

NCSP Group's consolidated cargo turnover for January-April 2019 totaled 47.6 million tons

20-Jun-2019 / 10:31 MSK

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.

The issuer / publisher is solely responsible for the content of this announcement.

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Press Release

NCSP Group's consolidated cargo turnover for January-April 2019 totaled 47.6 million tons

June 20, 2019

NCSP Group (LSE: NCSP, MOEX: NMTP) hereby reports that NCSP Group's consolidated cargo turnover for January-April 2019 grew by 0.3% year over year and reached 47,636 thousand tons.

Key drivers

• Growth in crude oil transshipment (+5.8%) amid the general increase in the export of this raw material from Russia.
• Increase in diesel fuel shipments with higher total cargo turnover of oil products (+6.1%).
• Growth in transshipment of chemical cargoes (+109.4%) due to increased shipments of non-hazardous mineral fertilizers in the first quarter of 2019.
• Growth in transhipment of iron ore raw materials (+33.5%) in comparison with a low number of shipments in the first months of the previous year.
• Decrease in grain turnover (-43.2%) versus the past year's record harvest.

Liquid cargoes

In January-April 2019, liquid cargo transshipments at NCSP Group's terminals grew by 5.6% or 1,907,000 tons compared to the same period last year, and totaled 35,865,000 tons.

The volume of crude oil transshipment in January-April 2019 rose by 5.8% over the same period of 2018 and amounted to 22,722,000 tons. The turnover of oil products grew by 6.1% or 741,000 tons and reached 12,796,000 tons.

The transshipment of liquid fertilizers (UAN) and vegetable oils decreased as compared to January-April 2018 by 6.7% and 37%, respectively.

At its vegetable oil transhipment terminal (launched in November 2018), IPP LLC shipped 89,300 tons of vegetables oils for the reporting period of 2019.

Bulk cargoes

In January-April 2019, bulk cargo transhipments at NCSP Group's terminals dropped by 27.5% or 1,673,000 tons compared to the same period last year, and totaled 4,401,000 tons.

This reduction was caused by low volumes of grain transshipments as compared to January-April 2019 due to poorer harvest against the record figures of 2017/2018. For the reporting period of 2019, the grain turnover through NCSP Group amounted to 2,610,000 tons (a 43.2% reduction as compared to January-April 2018).

The cargo turnover of iron ore raw materials grew by 33.5% or 243,000 tons and totaled 969,000 tons.

Coal transshipments decreased by 19% year over year to 435,000 tons due to a significant drop in quotations on foreign markets in 2019.

The turnover of chemical products grew by 109.4% or 116,000 tons and amounted to 221,000 tons.

Raw sugar transshipments were up by 51.3% or 57,000 tons and reached 167,000 tons.

General cargoes

In January-April 2019, general cargo transhipments at NCSP Group's terminals remained at the previous year's level totalling 5,005,000 tons.

Ferrous metals and cast iron transshipments grew by 3.4% or 151,000 tons to 4,571,000 tons.

Timber cargo transshipments increased by 12.7% or 13,000 tons and reached 118,000 tons.

Non-ferrous metals and perishable freight transhipments dropped to 292,000 tons and 25,000 tons, respectively.

Container turnover

In January-April 2019, the turnover of containers through NCSP Group's berths amounted to 2,205,000 tons or 228,000 TEU, which is 5.7% in tons or 5.3% in TEU more y-o-y.

Other cargoes

In January-April 2019, transshipments of other cargoes at NCSP Group's terminals totaled 160,000 tons, which is a 56.7% decrease as compared to the same period of the previous year.

NCSP Group's cargo turnover for January-April 2019/2018 (thousand tons)

	January-April		Change
2019	2018	Thousand t	%
Turnover, total	47,636	47,487	149	0.3%
Liquid cargo, total	35,865	33,959	1,907	5.6%
Crude oil	22,722	21,479	1,243	5.8%
Oil products	12,796	12,055	741	6.1%
UAN	246	263	-18	-6.7%
Oils	102	161	-60	-37.0%
Bulk cargo, total	4,401	6,075	-1,673	-27.5%
Grain	2,610	4,597	-1,987	-43.2%
Chemical cargo	221	106	116	109.4%
Sugar	167	110	57	51.3%
Iron ore raw materials	969	726	243	33.5%
Coal	435	537	-102	-19.0%
General cargo, total	5,005	5,000	6	0.1%
Ferrous metals and cast iron	4,571	4,420	151	3.4%
Timber	118	105	13	12.7%
Timber (thousand cubic meters)	214	190	24	12.7%
Non-ferrous metals	292	370	-79	-21.2%
Perishable cargo	25	105	-79	-75.9%
Containers	2,205	2,086	119	5.7%
Containers	2,205	2,086	119	5.7%
Containers (thousand TEU)	228	217	12	5.3%
Other	160	368	-209	-56.7%

NCSP Group is the largest port operator in Russia by cargo turnover. PJSC Transneft is the controlling shareholder (62%) of PJSC NSCP.

NCSP Group is traded on Moscow Exchange (NMTP) and London Stock Exchange as GDRs (NCSP). NCSP Group volumes in 2018 totaled 140.2 million tons. NCSP Group consists of: PJSC NSCP, LLC Primorsk Trade Port, JSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, LLC IPP, Baltic Stevedore Company LLC and LLC SFP.

For more information, please contact:

For press:  MSidorov@ncsp.com

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ISIN:	US67011U2087
Category Code:	UPD
TIDM:	NCSP
LEI Code:	LEIA0010014976
Sequence No.:	10782
EQS News ID:	827967

End of Announcement	EQS News Service

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