Nils Andersen, CEO of parent company, AP Moller-Maersk Group, attributed APM Terminals’ Q1 11 improvement in sales and margins to “continuing efficiency gains and cost reductions”.
On turnover of $US1.06 billion, Ebitda of $248 million was up 14% on 2010. The operating margin of 23.3% jumped from 20.5% in Q1 2010.
At the net profit level, income rose from $114 million last year to $139 million in 2011.
Mr Andersen said he was very satisfied about the company’s 11.6% return on invested capital, which was up from 8.8% on the corresponding period of the previous year.
APM Terminals handled 7.8 mill teu, up just 2% on the corresponding period of 2010. Stripping out ‘closed’ activities meant a rise of 8%, which Mr Andersen said put the terminal operator in line with “market growth”.
APM Terminals continued to gain third-party business in Q1, with non-Maersk and Safmarine services accounting for 46% of traffic. This compared with 42% in Q1 2010.
“Our new visual identity will serve as further proof of the independence of APM Terminals and our commitment to build our business in this direction,” said Mr Andersen.
