27 Oct 2017 11:17

NCSP sees EBITDA rise 7% to $648 in Q3, in line with forecast

MOSCOW. Oct 27 (Interfax) - Novorossiysk Commercial Sea Port (NCSP) , the flagship asset of Novolipetsk Metal & Steel Works, boosted earnings before interest, taxes, depreciation and amortization (EBITDA) by 7% quarter-on-quarter to $648 million in Q3, the company said in a statement.

According to an Interfax consensus forecast, EBITDA grew 6% to $640 million the previous quarter.

However, EBITDA was down 4% from $674 million in comparison to Q3 2016.

Revenue in July-September remained at practically the same level as the previous quarter, totaling $2.551 billion, slightly down from $2.544 billion in Q2. Most analysts predicted revenue of $2.511 billion.

Net debt at the end of Q3 declined by 29% t o $743 million on the back of a 64% increase in free cash flow to $533 million. Net debt/EBITDA declined to 0.3x from 0.4x the quarter before.