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 EUR 101.6 million (2015: EUR 91.1 million) and net profit for the year by 3.3 per cent to EUR 75.9 million (2015: EUR 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 EUR 19.0 million, which was 8.1 per cent higher than in the previous year (EUR 17.6 million).