- Preliminary consolidated revenue increases by 166% to EUR 427.6 million
- Preliminary consolidated EBITDA improves by 222% to EUR 60.3 million
Monaco, 13 February 2020 – Based on preliminary figures, R-LOGITECH S.A.M, an international provider of port infrastructure and logistics services with its main focus on the natural resources sector, was able to significantly increase its key revenue and earnings figures in the fiscal year 2019 as forecast. The pro rata consolidation of the Euroports Group, acquired in June 2019, and growth in Africa contributed to this.
Consolidated revenue increased from EUR 160.9 million to EUR 427.6 million. Preliminary consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose from EUR 18.7 million to EUR 60.3 million. Consolidated earnings before interest and taxes (EBIT) amounted to EUR 7,4 million (2018: EUR 15.0 million) due to non-cash depreciation and amortization in connection with the Euroports acquisition.
Preliminary consolidated equity rose from EUR 32.8 million to EUR 483.9 million, corresponding to a preliminary consolidated equity ratio of 29.5% (31 December 2018: 39.9%). Cash and cash equivalents amounted to EUR 66.3 million as of 31 December 2019 (31 December 2018: EUR 11.5 million).
R-LOGITECH has developed into one of the leading port infrastructure and logistics service providers in the natural resources sector by acquiring a majority stake in the Euroports Group and expanding its activities in Africa. The company currently operates more than 40 ports and terminals, employs more than 4,500 people and is active in 30 countries. Due to the first-time full consolidation of the Euroports Group in 2020 and the projects already being implemented, revenue and earnings will again increase significantly in the current fiscal year.
The audited consolidated financial statements for 2019 are expected to be published in April 2020 on the company website at www.r-logitech.com.
About R-LOGITECH S.A.M.:
R-LOGITECH is an international provider of infrastructure and logistics services focused mainly on the natural resources sector. The Group’s primary business lines are port and terminal management, logistics and technology solutions.
R-LOGITECH is a subsidiary of Monaco Resources Group S.A.M.
For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
+377 97 98 67 71