Volumes through the port grew for the third year in a row, ensuring that a record throughput of 32.8m tonnes was handled in 2015, representing a 6.4% increase on the previous year.
The growth achieved was shared across both imports and exports. Imports grew by 6.5% from 18.3m tonnes to 19.5m tonnes while exports increased by 6.3% from 12.5m tonnes to 13.3m tonnes. In particular we continued to see strong growth in the unitised sector where volumes increased by 7.3% to 27.2m tonnes, while volumes in the non-unitised sector grew by 2.5% to 5.7m tonnes.
The growth in throughput volumes has contributed to another strong financial performance in 2015 whereby
- Turnover increased by 7.8% from €72.1m to €77.7m
- Operating costs decreased by 4.9% from €38.5m to €36.6m
- Operating Profit increased by 18.8% from €36.1m to €42.9m
- Profit for the Financial Year increased by 19.0% from €30.6m to €36.4m
- Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 14.0% from €43.2m to €49.3m
The strength of the company’s Balance Sheet provides a solid financial base as we embark upon the largest construction project in the history of the port – the Alexandra Basin Redevelopment Project (ABR).
The E.U. commission has approved grant aid totalling €22.8m in respect of the project under the Connecting Europe Facility while the European Investment Bank is providing a €100m project finance facility. This 20 year facility provides long term finance matching the long term nature of the infrastructural investment. It also provides certainty of funding on competitive terms and allows us to finance the project conservatively, consistent with our strategic objectives.
- Marie Porter
- Finance Manager