Key performance indicators of the Long-Term Development Programme
The table below shows the attainment of targets set by the PAO Sovcomflot LDP for 2018 broken down by approved KPIs.
No. | KPI | Target value (basic scenario) | The lowest scenario | Actual value | Comments |
---|---|---|---|---|---|
1 | Net revenue (time charter equivalent income), USD million | ≥ 1,530 | ≥ 1,170 | 1 138,05 | The main reasons for the deviation: 1. Significant changes in global geopolitics and in the macroeconomic and industrial environment that have taken place since the approval of the current version of LDP in 2014 and have affected the prospects for implementing the projects embedded in LDP 2. Unfavourable freight market conditions: in 2018, freight rates plunged to the lowest levels in more than 20 years 3. Later than planned commissioning of vessels due to delays in construction |
2 | Profit/loss, USD million | ≥ 340 | ≥ −30 | -45,56 | |
3 | EBITDA margin, % | ≥ 65% | ≥ 62% | 54,40% | |
4 | EBITDA, USD million (for reference) | ≥ 1,100 | ≥ 720 | 619,10 | |
5 | Total dividends (index of dynamics of dividend payments vs. average level during the past three years), % | ≥ 100% | ≥ 100% | 46,42% | |
6 | Return on Invested Capital (ROIC), % | ≥ 7.0% | ≥ 3.4% | 2,75% | |
7 | Return on Equity (ROE), % | ≥ 7.6% | ≥ −1.0% | -1,34% | |
8 | Net Debt / EBITDA | ≤ 8 | ≤ 8 | 5,48 | Attained |
9 | Utilisation efficiency of fixed assets (fleet), % | ≥ 95% | ≥ 95% | 97,85% | Attained |
10 | Implementation of the innovative development programme, % | ≥ 100% | ≥ 100% | 114,07% | Attained |
No. | KPI | Actual for 2017 | Actual for 2018 |
---|---|---|---|
1 | Net revenue (time charter equivalent income), USD million | 1,119.62 | 1 138,05 |
2 | Profit/loss, USD million | -112.97 | -45,56 |
3 | EBITDA margin, % | 46.15% | 54,40% |
4 | EBITDA, USD million (for reference) | 516.68 | 619,10 |
5 | Total dividends (index of dynamics of dividend payments vs. average level during the past three years), % | 36.84% | 46,42% |
6 | Return on Invested Capital (ROIC), % | 2.18% | 2,75% |
7 | Return on Equity (ROE), % | -3.13% | -1,34% |
8 | Net Debt / EBITDA | 6.58 | 5,48 |
9 | Utilisation efficiency of fixed assets (fleet), % | 96.81% | 97,85% |
10 | Implementation of the innovative development programme, % | 116.24% | 114,07% |
No. | KPI | Target value (basic scenario) | The lowest scenario | Actual value | Comments |
---|---|---|---|---|---|
1 | Net revenue (time charter equivalent income), USD million | ≥ 1,362.23 | ≥ 1,194.73 | 1 197.66 | Actual between the basic and lowest scenario |
2 | Net profit, USD million | ≥ 240.93 | ≥ 83.43 | 100.69 | |
3 | EBITDA margin, % | ≥ 61.07% | ≥ 59.07% | 58.26% | Actual is compa-rable to the lowest scenario (the mar-gin is less than 1%) |
4 | EBITDA, USD million (for reference) | ≥ 840.20 | ≥ 705.20 | 703.68 | Actual is comparable to the lowest scenario (the margin is less than 0.25%) |
5 | Total dividends (index of dynamics of dividend payments vs. average level during the past three years), % | ≥ 100.00% | ≥ 100.00% | 116.55% | Attained |
6 | Return on Invested Capital (ROIC), % | ≥ 5.89% | ≥ 4.29% | 4.51% | Actual between the basic and lowest scenario |
7 | Return on Equity (ROE), % | ≥ 5.87% | ≥ 2.27% | 3.17% | |
8 | Net Debt / EBITDA | ≤ 8.00 | ≤ 8.00 | 4.78 | Attained |
9 | Utilisation efficiency of fixed assets (fleet), % | ≥ 95.00% | ≥ 95.00% | 97.49% | Attained |
10 | Implementation of the innovative development programme, % | ≥ 100.00% | ≥ 100.00% | 115.86% | Attained |