Global Ports revenue to rise 6.7% a year through 2022 - VTB Capital forecast
MOSCOW. July 23 (Interfax) - VTB Capital forecasts that revenue at Global Ports Group will grow 6.7% each year through 2022.
The investment bank forecasts EBITDA will rise 6.3% a year over that period and net profits will grow 6.1% a year.
Global Ports posted a net profit of $123.5 million in 2012 on revenue of $501.8 million. EBITDA amounted to $288 million.
VTB Capital based its forecast on projections that Global Ports will increase container capacity 60% to 3.1 million TEU (20-foot equivalent units) in the 2012-2022 period. Capacity will increase 40% to 1.4 million TEU at OJSC Petrolesport and 140% to 1.3 million TEU at Vostochnaya Stevedoring Company LLC.
Global Ports operates three container terminals, in St. Petersburg and Nakhodka, two in Finland and the Yanino logistics facility near St. Petersburg. N-Trans and APM Terminals share 50-50 ownership of a 75% stake in Global Ports. The other 25% of shares is in free float.
