Bodrum Cruise port concession extended until 2067

RNS Number : 8040L

Global Ports Holding PLC

31 December 2018

 

Global Ports Holding Plc

Global Ports Holding announces Bodrum Cruise port concession extension until 2067

Global Ports Holding Plc ("GPH" or the "Group"), the world's largest independent cruise port operator, is pleased to announce that it has signed an extension agreement with the relevant administrative authority of the Turkish Government for Bodrum Cruise Port. The original concession agreement was due to expire in December 2019, and following this new agreement the concession will now expire in December 2067.

GPH will pay a total concession fee of 13.3m TRY ($2.5m) for this concession extension, which will be paid in instalments over five years. In addition, as with the previous agreement, GPH will also pay an inflation linked annual lease payment. The average EBITDA generated at Bodrum Cruise Port between 2012-2016 was $1.4m, with reported EBITDA in 2017 of $944k.

Notes to Editors

GPH is the world's largest cruise port operator with an established presence in the Mediterranean, Caribbean, Atlantic and Asia-Pacific regions. GPH was established in 2004 as an international port operator with a diversified portfolio of cruise and commercial ports. As an independent cruise port operator, the group holds a unique position in the cruise port landscape, positioning itself as the world's leading cruise port brand, with an integrated platform of cruise ports serving cruise liners, ferries, yachts and mega-yachts. As the world's sole cruise ports consolidator, GPH's portfolio consists of investments in 15 cruise ports and two commercial ports in nine countries and continues to grow steadily.

CONTACT

For investor and analyst enquiries:                                                         For media enquiries:

Global Ports Holding, Investor Relations                                            Brunswick Group LLP

Martin Brown, Investor Relations Director                                               Azadeh Varzi and Imran Jina

Telephone: [phone]                                                         Telephone: [phone]

Email: [e-mail]                                                 Email:[e-mail]
 

 

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