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Summa Group News 2015 - March PT3

11044c06b8c718f728e20d462a877ece?s=47 Summa
April 02, 2015

Summa Group News 2015 - March PT3

News regarding the Summa Group's 2014 financial results.

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Summa

April 02, 2015
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  1. Summa Group News All the latest news from the Summa

    Group Summa Group 2015 FESCO - NCSP- STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY March 2015 – Part 3
  2. FESCO POSTIVE HIGHLIGHTS FOR 2014: The Summa Group’s Far East

    Shipping Company (FESCO) has announced its results for the first quarter of 2015, from January to March. Highlights include: • Container port transitions increased by 7.7% YOY to 513 000 TEU. • Export-import sea container trade increased by 16.6% YOY to 428 000 TEU. • FESCO remains the number 1 shipping company in the Russian Far East region with a market share of 32%. • FESCO remains the leader by volume on export-import sea container services lines with a market share of 43%. • Export-Import container transportation between Russia and Asian countries increased by 16.6%. • Vladivostock port increased by 7.7% YOY to 513 481 TEU, outperforming the Far East container market (2.3% YOY). Summa Group 2015 – March – PT3 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY • Rail Division increased by 13.8% YOY to 325.4 000 TEU in 2014. • The group’s revenue increased by 17.8% YOY while the EBITDA increased by 10.6% YOY.
  3. FESCO POSTIVE HIGHLIGHTS FOR 2014: • Port, Bunkering, Liner, Logistics

    and Shipping Divisions revenue increased. • The group had a strong performance in 4Q 2014 with Port, LLD and Shipping divisional EBITDA growth. • CAPEX spending increased due to expansion CAPEX component, which includes acquisition of two new fuel efficient vessels, acquisition of a dry container terminal in Novosibirsk, investments the Port Division and in Usady project as well as acquisition of trucks and investment in the corporate IT system. • Port container throughput increased by 7.7% YOY to 513 281 TEU due to the international trade between Russia and Asia. The 4Q 2014 export throughput was up by 3.8%. • The increase of export volumes due to the decrease in the RUD value lead to an increase of general cargo to 16.7% YOY to 2 297 000 tons. • Due to an increased demand for FESCO block train services, the rail container transportation by Transgarant and Russkaya Troyka increased by 13.8% to 325 4000 TEU. Summa Group 2015 – March – PT3 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY • Export-import sea container transportation increased to 16.6% while intermodal rates increased by 6.2% to 258 621 TEU. • The Shipping Division EBITDA turned a loss in 2013 to profit of $12.9million in 2014.
  4. FESCO POSTIVE HIGHLIGHTS FOR 2014: Summa Group 2015 – March

    – PT3 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY $ million 3Q 2014 4Q 2014 4Q 2013 YoY Dynamics 2014 2013 YoY Dynamics Revenue 331.0 274.2 290.1 -5.5% 1 118.3 1 139.7 -1.9% EBITDA* 59.1 45.5 35.0 +30.0% 177.0 193.5 -8.5% EBITDA margin 17.9% 16.6% 12.1% +4.5 pp 15.8% 17.0% -1.2 pp CAPEX 23.6 12.8 7.4 +73.0% 72.6 47.5 +52.8% RUB million 3Q 2014 4Q 2014 4Q 2013 YoY Dynamics 2014 2013 YoY Dynamics Revenue 11 961 12 879 9 460 +36.1% 42 787 36 321 +17.8% EBITDA* 2 139 2 147 1 155 +85.9% 6 166 +10.6% EBITDA margin 17.9% 16.6% 12.1% +4.5 pp 15.8% 17.0% -1.2 pp *) EBITDA is calculated as profit from operating activity adding back depreciation and amortization, impairment on tangible fixed assets and one-off expenses.
  5. FESCO NEGATIVE CHANGES FOR 2014: The negative reports include: •

    Trail market and RUB devaluation lead to a 8.5% YOY decrease to $177 million. • EBITDA margin decreased by 1.2pp to 15.8% • Market headwinds have been tackled by a new cost optimization programme which has already delivered the first results for 4Q2014. • The group’s consolidated revenue decreased by 1.9% YOY. • EBITDA decreased by 8.5% YOY reaching $177million. • The Rail Division sees a decrease of revenue in EBITDA in RUB which was smaller than USD. • The revenue deceased by 7.4% to $185 million in 2014 due to RUB devaluation. • EBITDA decreased by 1.3% YOY but increased by 35.5% in the first quarter of 4Q 2014, resulting in an overall increase of 17.7pp YOY to 57.3% in 4Q 2014. Summa Group 2015 – March – PT3 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY
  6. FESCO NEGATIVE CHANGES FOR 2014: Summa Group 2015 – March

    – PT3 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY • Intermodal rates took a dip due to competition on the routes as well as the devaluation of the RUB. As a result the LLD revenue decreased by 7.1% YOY on $623million. The group has developed a cost optimisation program during 2014 which will continue to be used in 2015 in order to focus on maximisation of cash flow via reducing CAPEX, reduction of administration expenses, optimisation of fleet usage in rail and shipping, labour productivity growth and decreasing operational costs at port.
  7. ABOUT THE SUMMA GROUP Summa Group specialises and invests in

    port logistics, engineering, construction, oil and gas sectors as well as telecommunications. Summa Group is a diversified private holding that comprises of more then 10 000 people in 40 regions of Russia and abroad. Mr Ziyavudin Magomedov is the founder and shareholder of the Summa Group, which celebrated its 10 year anniversary in 2014. Summa Group 2015 – March – PT3 FESCO - NCSP- STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY