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Karin Rix Holländer
Executive Assistant MA
Due to the continuing high level of activity in the wind business, more RoRo cargo and an increase in the number of ship calls the Port of Esbjerg also generated a satisfactory profit for 2018. At the same time, the future prospect for the Port's three business areas seem promising –not least after the Danish parliament decided to establish the largest offshore wind farm in the history of Denmark off the west coast of Jutland.
The Port of Esbjerg has published its financial statements for 2018 – the year in which the Port celebrated its 150th anniversary. The turnover for 2018 amounted to EUR 30.83 million, which is largely unchanged compared to 2017, while earnings declined slightly to EUR 9.56 million. The decline is due primarily to depreciation allowance relating to investments made in the East Port and in new multi terminals, but also to lease reimbursement and activities relating to the anniversary.
Port of Esbjerg’s Chairman of the Board Flemming N. Enevoldsen is satisfied with the result:
"The profit underlines the fact that the Port of Esbjerg is a thoroughly healthy business, and it is a good basis for continued development and progress at the port."
Bright prospect for the Port's business areas
In 2018, RoRo cargo reached the highest figures in five years, and 1,210 MW offshore wind were shipped from the port which is the second-highest level in the past five years. The Port of Esbjerg is expecting growth in both business areas in the years ahead.
"The announcement of the installation of the largest offshore wind farm in the history of Denmark off the west coast of Jutland as well as the large number of projects in the pipelines in Europe and the world make the future of the port’s wind business look bright," says Flemming N. Enevoldsen and adds:
"Looking at RoRo, we see that more and more cargo moves from road to sea. This is a natural consequence of the congestion on the roads in Europe. And thanks to the Port’s size, location and direct links to rail and motorway, the Port of Esbjerg is clearly an obvious part of the solution. Also as an alternative to the congested ports along the English Channel."
The oil market is still unstable and difficult, but the redevelopment of the Tyra field is a ray of hope for the oil and gas industry in Esbjerg:
"The EUR 2.8 billion project is likely to create thousands of jobs and a lot of work for the Port's resident companies, and it will safeguard Danish natural gas production for the next 25 years. That is good news," Flemming N. Enevoldsen notes.
Investing in the future
Since 2000, the Port of Esbjerg has invested a good EUR 228 million in expanding and modernising the port facilities, and the high investment level continued in 2018, as the Port of Esbjerg invested further EUR 8.98 million.
The Port expects the environmental impact assessment (EIA) regarding a potential port expansion of up to 1 million square metres to be completed by the end of 2019. According to the Chairman of the Board, the timing is perfect:
"Other parameters being equal, the growth in wind power and RoRo will increase demand for port areas. And we must be ready to move fast to ensure that we have enough space to accommodate our customers' needs, also in the future."
For more information:
Dennis Jul Pedersen, CEO, +45 2948 4029
Flemming N. Enevoldsen, Board Chairman, +45 4043 1303
Key figures from the Port of Esbjerg’s annual report 2018:
| 2018 | 2017 | |
| Turnover | EUR 30.83 million | EUR 31.61 million |
| Net profit | EUR 9.56 million | EUR 10.83 million |
| Operating profit (EBIT) | EUR 12.48 million | EUR 13.15 million |
| Return on average invested capital (ROAIC) | 7.4 % | 8.4 % |
| Cargo turnover | 4.4 million tonnes | 4.5 million tonnes |
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