Eurogate Reports 13.3% Increase in Net Profit, Germany
In fiscal 2013, the EUROGATE Group successfully navigated the challenges that continue to be characterised by a difficult market and industry environment and increased group annual net profit by 13.3% to EUR 61.9 million.
Container handling volumes exceeded the peak value of 14 million TEUs. With a rise of 7.3% year-on-year, the EUROGATE Group handled a total of 14.2 million TEUs.
This number is a record since the foundation of the company 15 years ago. At EUR 657.2 million, revenue actually exceeded the previous year’s level. Investments in 2013 amounted to only around one quarter of the previous year’s volume at EUR 38 million.
Thomas Eckelmann, Chairman of the EUROGATE Group Management Board: “Our year-end results and our sound balance sheet structure encourage us to feel confident. The economic environment and the startup losses incurred as a result of the start of operations of the EUROGATE Container Terminal Wilhelmshaven were difficult hurdles to be overcome on the way to achieving this good result. Our international corporate strategy with its calculated risk is what determines our path to success.”
“It is decisive in enabling us to summon up the necessary staying power for the long lead times on our greenfield projects. I believe we are well-positioned for the future, despite the infrastructure challenges at a number of locations. As service providers, we are in a position to offer our customers service that meets their expectations in terms of productivity and quality at all times. The proof of this is that EUROGATE in Bremerhaven and Wilhelmshaven are the only terminal locations in Germany where 18,000-TEU vessels are handled,” added Mr. Eckelmann.
Continuing difficult market and industry environment
The general economic situation in 2013 was more encouraging than in 2012 and there are positive signs that transported container load volumes will continue to grow. On the other hand the terminal overcapacities in the North Range harbour certain risks, as well as opportunities resulting from the ongoing trend towards ever larger vessels. There is a continued consolidation trend among shipping lines, which presents opportunities and risks in equal measure.
Eurogate, April 9, 2014