Eurogate Group presents its results for the 2016 financial year

Bremen, Germany (Ports Europe) April 6, 2017 - EUROGATE Group today presented its results for the 2016 financial year - expansive business development with a stable result. The EUROGATE Group today presented its results for the 2016 financial year. These show that the group of companies increased its operating result (EBIT) by 11.6 per cent to €101.6 million ($107.61 million) (2015: €91.1 million) and net profit for the year by 3.3 per cent to €75.9 million (2015: €73.5 million). 2016 was a turbulent year for container shipping, and one that brought a few surprises and changes. A number of shipping company mergers and the insolvency of the Korean carrier Hanjin Shipping led to a realignment within the major alliances. Against this background, EUROGATE successfully demonstrated its ability to operate profitably even in a difficult market environment. Capital expenditure in 2016 came to €19.0 million, which was 8.1 per cent higher than in the previous year (€17.6 million). EUROGATE in Germany One positive piece of news was the decision of the newly established Ocean Alliance to include EUROGATE Container Terminal Wilhelmshaven, Germany’s only deep-water port, in its network. This means two major alliances representing eight shipping lines now offer services for Wilhelmshaven (2M: Maersk Line with Hamburg Süd, MSC, Hyundai Merchants Marine; Ocean Alliance: CMA CGM, COSCO Shipping, Evergreen and OOCL). EUROGATE expects this to give the location a further boost, coupled with a wider range of transport and logistics services. In 2016, the container terminal again recorded a positive development with growth in handling volume of 12.9 per cent to 481,720 TEUs (previous year: 426,751 TEUs). In Bremerhaven and Hamburg container handling volumes stagnated. After a promising start in the first six months of 2016, market events had an impact in the second half-year. Bremerhaven handled a total of 5,487,198 TEUs (2015: 5,521,199 TEUs), while EUROGATE Container Terminal Hamburg handled 2,265,439 TEUs (2015: 2,285,993 TEUs). EUROGATE International The development at EUROGATE’s CONTSHIP ITALIA holding was very encouraging. The Italian terminals increased their container throughput by 4.6 per cent to 5,012,216 TEUs. Particularly worth mentioning is the growth at Medcenter Container Terminal in Gioia Tauro, Calabria. After a number of difficult years, the terminal’s handling figures were again up to 2,749,074 TEUs, almost 10 per cent higher than in 2015 (2,505,393 TEUs). The CONTSHIP subsidiary Sogemar is planning to build a new container railway here with an investment volume of €40 million. CONTSHIP ITALIA’s strategy is to establish better and faster connections between the southern ports and central Europe by extending its rail freight services in the South-North corridor. The EUROGATE Group now with 12 locations EUROGATE is continuing to pursue its expansive network strategy. Since 29 January 2017, the international group has had a new member: EUROGATE Container Terminal Limassol, Cyprus. The Cypriot container terminal ideally complements the network in the Mediterranean. With Tangier (Morocco) to the west, Gioia Tauro and Cagliari (Italy) in the centre and Limassol to the east, the EUROGATE Group can now offer container shipments throughout the entire Mediterranean region. EUROGATE Container Terminal Limassol has an annual handling capacity of 500,000 TEUs. Intermodal transport In Germany, volumes transported by rail stagnated at 560,305 TEUs, analogously to the volumes handled by the seaports (2015: 556,879 TEUs), whereas truck transports increased by 11.6 per cent to 84,790 TEUs (2015: 75,988 TEUs). EUROGATE Intermodal (EGIM) is continuously extending its transport services offering. Only recently, EGIM announced a new connection between Munich and Budapest aimed at reinforcing Munich as a hub for shipments from Southern Germany, Italy and Slovenia to South-East Europe and Istanbul. The intermodal arm of the Contship Italia Group recorded significant growth in 2016 and transported 271,418 TEUs, 10 per cent more than in 2015 (246,799 TEUs). The 16.67 per cent shareholding in Contrail Logística S.A. with headquarters in São Paolo (Brazil) acquired in October 2015 by the EUROGATE International GmbH subsidiary also showed a positive development in 2016 with 30,720 TEUs transported, despite the economic crisis in Brazil. At 21,027 TEUs transported, the intermodal transport volume of the Portuguese shareholding in 2016 was 1.5 per cent down on 2015 (21,348 TEUs). Overall, the EUROGATE Group’s intermodal segment recorded an increase of 6.4 per cent to 968,260 TEUs (2015: 909,595 TEUs). Key figures for the EUROGATE Group 2016 2016 2015 Change € ‘000 € ‘000 in % Total assets 990,147 969,141 +2.2 Equity 418,83 389,364 +7.6 Equity ratio 42.3% 40.2% Revenue 639,373 591,321 +8.1 EBITDA 153,214 148,122 +3.4 EBIT 101,649 91,072 +11.6 Net profit for the year 75,929 73,53 +3.3 Capital expenditure 19,046 17,624 +8.1 Cash flow 143,196 119,876 +19.5 from ordinary operating activities Employees Germany 4,335 4,347 –0.3 Employees international 7,747 7,739 +0.1 Container handling volumes in 2016 at a glance 2016 2015 Change € ‘000 € ‘000 in % Bremerhaven 5,487,198 5,521,199 –0.6 Wilhelmshaven 481,72 426,751 +12.9 Bremerhaven/Wilhelmshaven 5,968,918 5,947,950 +0.4 Hamburg 2,265,439 2,285,993 –0.9 Germany 8,234,357 8,233,943 0 Italy 5,012,218 4,792,208 +4.6 Portugal (Lisbon) 154,959 207,317 –25.3 Morocco (Tangier) 1,126,872 1,230,305 –8.4 Russia (Ust-Luga) 82,203 85,871 –4.3 Total EUROGATE Group 14,610,609 14,549,644 +0.4 http://www1.eurogate.de/en/About-us/Press/Press-release/Expansive-business-development-with-stable-result

Eurogate Group presents its results for the 2016 financial year

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Eurogate Group presents its results for the 2016 financial year

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All news

Russia’s total container market in Jan-Nov’24 was 6 mln TEUs

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Update: “Terrorist attack” sank Russia’s biggest logistics vessel in Mediterranean

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Latest Free Reads

Top Ports