March 23, 2015

The Port of Esbjerg delivers historic operating profit


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Karin rix hollander

Karin Rix Holländer

Executive Assistant MA

It was yet another solid year for the Port of Esbjerg in 2014, with a strong improvement in operating profits. A high level of activity in the wind turbine industry, a record number of ship calls, growth in RoRo transport and strong demand for port sites made this a very busy year.

The Port of Esbjerg is charting a strong course after three consecutive years of record-breaking financial performance. The 2014 net profit was EUR 10.43 million, much in line with the figure for 2013 when the sale of land produced non-recurring income of EUR 2.4 million. 

The performance is backed by the 17% EBIT improvement to EUR 13.54 million, the highest EBIT in Port of Esbjerg history. Revenue ended at EUR 30.17, a 5% increase over 2013. ROAIC (return on average invested capital) was 9.3% in 2013, up from 8.3% in 2013.

High number of ship calls and strong demand for harbour areas

With a total of 5,930 ship calls, marking a 21% increase on 2013, 2014 was a busy year for the Port of Esbjerg.  The many ship calls were driven by the high level of activity in the wind turbine industry and the frequent calls by supply vessels and hotel ships servicing the North Sea wind farms. 

In addition, wind turbine transports grew by 44% over 2013. RoRo transport also improved in 2014, not least thanks to a new route, which has made the Port of Esbjerg a major hub for car imports.

“We're very pleased with our financial results for 2014, because this has also been a period of changing market conditions. Our performance shows that we have the capacity the market is looking for. We're seeing strong demand for our port areas and we have retained the position as market leader in offshore wind. It is also very encouraging to see that our customers are able to generate growth within the framework we can offer. For example, car imports at Esbjerg doubled in 2014,” says Port Director Ole Ingrisch.

The Port of Esbjerg prepared for volatile markets

“The Port of Esbjerg is well positioned for the future despite growing uncertainty in the market,” says Flemming N. Enevoldsen, the company's chairman. 

“Looking ahead to the coming years, there's no doubt that the falling oil price represents a challenge for the energy sector and – potentially – for activities at the Port of Esbjerg. Events around the world in 2014 serve as a reminder of just how quickly conditions can change for our customers and for the port.  However, the Port of Esbjerg and the companies operating at the port are robust, competitive and, not least, adaptable to change, so we remain fundamentally optimistic,” he says.

For more information:
Ole Ingrisch, CEO, / +45 4057 4300.
Flemming N. Enevoldsen, Chairman of the Board, / +45 4043 1303.

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