Net profit of Globaltrans in the first half of the year grew by 70% – Kommersant
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The net profit of the logistics company Globaltrans according to international financial reporting standards (IFRS) for the first half of the year grew by 70% year-on-year, to 20.9 billion rubles. The company’s revenue increased by 7% to 51.97 billion rubles. Adjusted EBITDA for the reporting period decreased by 6% to RUB 25.4 billion.
Globaltrans announced that it has launched its re-registration from Cyprus to the Abu Dhabi Global Market (ADGM) economic zone. The process is expected to take about six months. The company expects that this will allow, among other things, to unlock “certain intra-group transactions, including the payment of dividends, which was approved by shareholders at an extraordinary general meeting,” it says in a statement. press release.
Dividend payments will remain suspended “due to technical limitations related to the transfer of funds to a holding company registered in Cyprus.”
Globaltrans announced on plans for redomiciliation at the end of July. The company noted that they plan to keep the listing on the London and Moscow stock exchanges. August 16 Globaltrans shareholders approved change of jurisdiction from Cyprus to the free economic zone of Abu Dhabi.
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