13 Apr 2012 15:35

Analysts expect NCSP net profit to fall 47% in 2011

MOSCOW. April 13 (Interfax) - Novorossiysk Commercial Sea Port (NCSP) saw net profit of $137.5 million to International Financial Reporting Standards in 2011, including its acquisition in January 2011 of Primorsk Trade Port (PTP), down 46.7% on 2010, investment company and bank analysts polled by Interfax forecast.

Net profit is expected to range from $124 million to $155 million. NCSP obtained net profit to IFRS of $258 million in 2010.

Revenue is forecast to have increased 65% to $1.05 billion. The consensus forecast for EBITDA is $553.7 million, up 33% on 2010.

Consensus forecast for NCSP financial indicators in 2011 ($ mln):

Company	Net profit	Revenue	EBITDA
Aton	155	1041	556
JP Morgan	132	1055	549
Merrill Lynch	133	1019	536
Deutsche Bank	124	1041	552
Alfa Bank	131	1070	564
Otkritie	150	1061	565
Consensus Forecast	137,5	1047,8	553,7
Financial indicators 2010 (without PTP)	258	635	415,9
Forecast for 2011/2010 dynamics	- 46,7%	65%	33%