The Port of Rotterdam Authority’s income from normal operations has risen in the first half-year by € 7 million compared to 2006, to a total of € 93 million.
The reasons for this are the increase in revenues and control of operating expenses. This development is in line with the Business Plan 2006-2010, which provides for a growth in income and return that is needed to achieve the Port Authority’s considerable funding commitments for the medium term on attractive terms, also in relation to the construction of Maasvlakte 2.
Compared to the first half of 2006, 3% (€ 7 million) more in harbour dues and contract proceeds was received. This income rose as a consequence of higher throughput, more sites allocated and tariff effects.
The result from participating interests during the first half of 2007 was € 10 million negative. This result largely comprises a one-off depreciation. Nevertheless, the net income of € 56 million for the first half of 2007 remained virtually the same as the normalised income for the first half of 2006. The half-yearly figures for 2006 included a one-off item of revenue of € 26 million through the release of provisions. Interest coverage improved (from 3.1 to 3.4), as did the ratio between debts and operational income (from 4.1 to 3.7). Capital adequacy declined as expected (from 70% to 68%) due to repayments of subordinated loans.
For 2007 the Port Authority expects to achieve a net income in excess of the (normalised) income for 2006 (€ 92 million).
Throughput in the port of Rotterdam increased during the first half-year by more than 4%. The number of seagoing vessels visiting the port rose by almost 5% from 17,593 last year to 18,400 in the first half of 2007.
The reasons for this are the increase in revenues and control of operating expenses. This development is in line with the Business Plan 2006-2010, which provides for a growth in income and return that is needed to achieve the Port Authority’s considerable funding commitments for the medium term on attractive terms, also in relation to the construction of Maasvlakte 2.
Compared to the first half of 2006, 3% (€ 7 million) more in harbour dues and contract proceeds was received. This income rose as a consequence of higher throughput, more sites allocated and tariff effects.
The result from participating interests during the first half of 2007 was € 10 million negative. This result largely comprises a one-off depreciation. Nevertheless, the net income of € 56 million for the first half of 2007 remained virtually the same as the normalised income for the first half of 2006. The half-yearly figures for 2006 included a one-off item of revenue of € 26 million through the release of provisions. Interest coverage improved (from 3.1 to 3.4), as did the ratio between debts and operational income (from 4.1 to 3.7). Capital adequacy declined as expected (from 70% to 68%) due to repayments of subordinated loans.
For 2007 the Port Authority expects to achieve a net income in excess of the (normalised) income for 2006 (€ 92 million).
Throughput in the port of Rotterdam increased during the first half-year by more than 4%. The number of seagoing vessels visiting the port rose by almost 5% from 17,593 last year to 18,400 in the first half of 2007.