TTS Group's turnover rose by an annual 31.4% to 872.9 million lei during January-September, it said in a statement filed with the Bucharest Stock Exchange, BVB.
The group's performance was boosted by the increase in the volume of transported and operated agricultural goods, as well as the expansion of its port operations segment.
The total volume of goods transported by the group by river and handled in ports in the first nine months of the year rose by an annual 7.9% to 11.53 million tonnes. Transport through port operations recorded a 40.3% annual increase in the nine months through September, offsetting the 16.4% decrease registered in the river transport segment.
The flow of agricultural products increased by 61.3% year-on-year to 6 million tonnes in the nine months through September, while flows of minerals decreased by 25% on the year to 4 million tonnes. The transport of chemical products edged down by 3.7% on the year to 1.31 million tonnes.
Navigation conditions were mostly favourable during the first nine months through September. The second half of the third quarter, however, saw worsening conditions which led to loading barges below capacity. The port operation activity in Constanta also sustained unfavourable weather conditions, leading to an inability to manoeuvre to and from maritime vessels for periods of five to seven days during the third quarter of 2023.
TTS Group consists of 15 companies, of which eleven are registered in Romania, three in Hungary and one in Austria. TTS SA, the group's parent company, directly or indirectly owns majority shares in each of the other 14 companies.
At an individual level, TTS SA saw its net profit soar by 104.5% year-on-year to 123.9 million lei in the first nine months of 2023. The company's turnover rose 46.2% on the year to 680.1 million lei.
The group owns a river fleet boasting a capacity of 800 thousand tonnes, ten floating cranes, as well as port terminals in the southeastern maritime port of Constanta and in seven Danube river ports.
As at 1348 CET on Thursday, TTS shares traded 1.67% higher at 24.3 lei on the BVB.
