Eurogate increases net operating profit

European terminal operator group, EUROGATE, has announced that it has increased its net operating profit by 13.4% to €73.5m.

It was at German EUROGATE locations that container handling volumes grew faster than anywhere else.

In 2015, Bremerhaven, Wilhelmshaven and Hamburg handled 8.2m teu, up 1.5% from the previous year.

Emmanuel Schiffer, chairman of the EUROGATE group management board, said: “EUROGATE has achieved good operating results that will enable us in the coming years to make the group fit for the challenges of the future.”

“However, despite this positive result we cannot hide the fact that the market conditions in our industry have become more difficult,” he added.  

EUROGATE Group revenue was up by 4.5% at €591.3m while operating profit (EBIT) grew from €76.5m to €91.1m.

The total volume of containers handled across the European Group was 2% below the previous year’s, and the total handling volume for German seaports in 2015 also declined by 2%.

“The global economy has lost its momentum. Consequently, the volume of goods being traded internationally is down, which leads among other things to a general slowdown in global container handling at the seaports,” Mr Schiffer explained.

He continued: “We are currently confronted by a mature market characterised by highly intense competition. The shipping lines are responding to this with ever larger container ships with transport capacities of >18,000 teu.”

Bremerhaven and Wilhelmshaven together showed an increase in revenue of 1.9% to 5.9m teu and were above market trend.

While the Italian container terminals handled 4.8m teu in 2015, down 5.5% on the previous year. Despite the largest container terminal in the Contship Italia Group completing a restructuring phase in the summer of 2015, its handling volume at the end of the year was still negative.

Mr Schiffer concluded: “For us as terminal operators the challenges lie in coping with the resulting peak handling periods.”

“We need to be able to offer our customers high levels of productivity to ensure that deploying ULCVs delivers the results our customers are looking for.”

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