Port of Rotterdam posts profit of €151 million for 2008
The Port Authority achieved a result of € 151 million in 2008, some € 37 million more than in 2007. Goods throughput in the port of Rotterdam increased in 2008 to a record level of 421 million tonnes, 2.9% higher than in 2007. The Executive Board of the Port Authority is pleased with these figures. “We have still been able to round off the year 2008 successfully, despite a noticeably poorer fourth quarter. The biggest challenge for the coming period is to continue our investment programme. Income is falling because of the recession, but we want to make sure the port is in good shape when the economy begins to pick up again”, says Chief Financial Officer Thessa Menssen.
Operating income (mainly harbor dues and the lease of sites) rose by 7.7%. Harbor dues rose by € 15 million to € 293 million, and contract income by € 18 million to € 214 million. Total operating income was € 525 million, € 37 million more than in 2007. Operational expenses rose by € 4 million compared to 2007, to a total of € 224 million. The number of staff also increased slightly from 1,186 to 1,207.
The financial position of the Port Authority, which was privatized in 2004, continues to develop favourably. In view of the Port Authority’s structurally high investment ambitions, a solid financial position is extremely important. A healthy financial position means that the Port Authority can borrow on reasonable terms.
Despite the current economic situation the Port Authority continues to be positive about the medium-term and long-term outlook. Planned investments will therefore be maintained. In 2009 the investments will exceed € 400 million, divided between Maasvlakte 2 and the existing port area. In the years up to 2020 the Port Authority is expected to invest € 4 billion, half of which will be in the existing port area and the other half in the construction of Maasvlakte2.
The Port Authority will be paying out € 43.7 million as dividend for the year 2008 to its shareholders, namely the Municipality of Rotterdam and the State of the Netherlands.
For the first time in seven years the Port Authority expects to see a fall in throughput in 2009. The result for 2009 is therefore expected to be at a clearly lower level than the result for 2008.
Operating income (mainly harbor dues and the lease of sites) rose by 7.7%. Harbor dues rose by € 15 million to € 293 million, and contract income by € 18 million to € 214 million. Total operating income was € 525 million, € 37 million more than in 2007. Operational expenses rose by € 4 million compared to 2007, to a total of € 224 million. The number of staff also increased slightly from 1,186 to 1,207.
The financial position of the Port Authority, which was privatized in 2004, continues to develop favourably. In view of the Port Authority’s structurally high investment ambitions, a solid financial position is extremely important. A healthy financial position means that the Port Authority can borrow on reasonable terms.
Despite the current economic situation the Port Authority continues to be positive about the medium-term and long-term outlook. Planned investments will therefore be maintained. In 2009 the investments will exceed € 400 million, divided between Maasvlakte 2 and the existing port area. In the years up to 2020 the Port Authority is expected to invest € 4 billion, half of which will be in the existing port area and the other half in the construction of Maasvlakte2.
The Port Authority will be paying out € 43.7 million as dividend for the year 2008 to its shareholders, namely the Municipality of Rotterdam and the State of the Netherlands.
For the first time in seven years the Port Authority expects to see a fall in throughput in 2009. The result for 2009 is therefore expected to be at a clearly lower level than the result for 2008.