Brief: Russia's Globaltrans Temporarily Suspends Final Dividends For 2021

Globaltrans Investment

28/03/2022 07:00

March 28 (Reuters) - Russia's Globaltrans  GLTRq.L :
    * SAYS PAYMENT OF FINAL DIVIDENDS FOR 2021 TEMPORARILY
SUSPENDED
    * SAYS SUSPENSION DUE TO BOTH TECHNICAL LIMITATIONS
REGARDING
UPSTREAMING CASH TO THE CYPRUS HOLDING COMPANY AND THE OBJECTIVE
OF ESTABLISHING LIQUIDITY BUFFERS
    * SAYS FY NET PROFIT RUB 15.1 BILLION, UP 24% Y/Y
    * SAYS FY ADJUSTED EBITDA RUB 29.0 BILLION, UP 8% Y/Y
    * SAYS ALL ITS DEBT IS IN ROUBLES, ALL INTEREST RATES ARE
FIXED,
AND REPAYMENT SCHEDULES ARE COMFORTABLE
    * SAYS TWO KEY SERVICE CONTRACTS EXTENDED IN 2021 - ROSNEFT
FOR 5
YEARS AND METALLOINVEST FOR 2 YEARS
    * SAYS ALL OF ITS KEY CONTRACTS CONTINUE TO PERFORM AS OF
TODAY
    * SAYS NET DEBT FELL 32% WITH NET DEBT TO ADJUSTED EBITDA AT
0.6X
COMPARED TO 1.0X AT END 2020
    * GROUP HAD RUB 6.6 BLN IN CASH AS OF END OF FEBRUARY 2022
    * CONTINUED FREE CASH FLOW GENERATION AND MODERATE DEBT
REPAYMENTS
OF RUB 13.7 BLN DUE IN 2022
    * 


Further company coverage:  GLTRq.L 

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