Global Ports Investments (Global Ports) saw its profits increase by 11% year-on-year (YoY) in H1 2021 as its container segment grew and recovered from the worst effects of the COVID-19 pandemic.
In its latest financial results, the terminal operator said its revenue increased by 24.6% and earnings by 8.5%, with container traffic rising by 1.9% thanks to a “strong market position”.
Albert Likholet, CEO, Global Ports, said the company had successfully protected its container market share and “taken the necessary steps to capitalise on the recovery” in cargo handling.
“In an increasingly competitive market, we have successfully converted volume growth into Revenue generation and due to our commitment to efficiency, we have demonstrated both Adjusted EBITDA growth and Adjusted EBITDA Margin improvement,” Likholet said.
“Given the acceleration in growth momentum that we saw in 2Q21 in both full container import and full container exports, combined with the thriving growth in transit volumes, we take a cautiously optimistic view on the rest of the year.
“Nonetheless, our priorities remain unchanged – we will continue to focus on providing high standards of service, reliability and predictability for our clients and ensuring that we strive to achieve constant improvement in our offering.
“This strategic approach has served us well and enabled the Group to achieve consistently strong results over the last several years, despite all the challenges the industry has faced.”
In July 2021, the terminal operator said it will shift the core focus of its business to containerised trade after the Russian market grew in Q2.