APM Terminals Achieves Increased Profit in 2013

APM Terminals has announced its 2013 business results and delivered an increased profit of USD 770m and a return on invested capital of 13.5% (15.2%), reflecting improved underlying performance but also a higher asset base due to the continued high investment level.

The expansion into high growth markets continued, exemplified by projects in Mexico, Peru, Brazil, Ivory Coast, Nigeria, Russia and China. APM Terminals continued to work on developing attractive customer propositions as well as driving continuous improvement in operational efficiency.

Total revenue increased by 3% due to higher volume and increased construction revenue on behalf of certain concession grantors. Excluding construction revenue, port revenue grew broadly in line with volume growth. Inland revenue was impacted by the divestments of the Maersk Equipment Service Company Inc., USA (MESC) in 2012, and Bridge Terminal Transport Inc., USA in 2013.

Operations in emerging markets faced inflationary cost pressures. However, excluding the construction revenue, the EBITDA margin improved by 0.6%. This was mainly due to a cost savings programme which delivered cost reductions of more than USD 100m primarily through operational efficiencies and retendering of several supplier contracts.

The invested capital increased to USD 6.2bn (USD 5.5bn) reflecting the continued high investment level in APM Terminals, including the development of new terminals in Santos, Brazil, and Maasvlakte II, the Netherlands as well as various expansion projects. In total more than 3m TEUs of additional container handling capacity was added to the APM Terminals network in 2013 (more than 1.3m TEUs at APM Terminals’ equity share).

INITIATIVES IN 2013

APM Terminals continued to work on developing attractive customer propositions. Volumes from 3rd party customers reached 50% of the total in 2013 (48%). The higher productivity achieved in 2012 was maintained throughout 2013. A further improvement is targeted for 2014.

APM Terminals remains committed to driving continuous improvement in operational efficiency. A recent study on global port and terminal productivity released by the US-based Journal of Commerce Group, and based on data from the first half of 2013, has named five facilities from the APM Terminals Global Terminal Network among the world’s 10 most productive container terminals.

MARKET DEVELOPMENT

The global container terminal market measured in TEU increased by 3% during 2013 (Drewry). The shipping industry is trending towards more global alliances and larger vessels, with an associated cascading of bigger vessels down the shipping lanes. Port operators can expect to handle fewer but larger calls, placing additional demands on port infrastructure. APM Terminals is well placed to take advantage of these developments in the market.

PORTFOLIO

APM Terminals and Turkey-based Petkim entered into an agreement to build and operate Aegean Gateway Terminal, Izmir – one of Turkey’s largest container and general cargo terminals. Operations are expected to start in summer 2015. The initial investment for the container terminal is approximately USD 400m. APM Terminals will have the right to operate the port for a period of 28 years which may be extended. The terminal will be capable of handling vessels with capacity over 10,000 TEU.

Global Ports, the leading operator of container terminals in Russia and in which APM Terminals holds a cocontrolling share, completed an agreement to acquire a competing operator, NCC Group Limited. The transaction has diluted APM Terminals’ ownership share to 30.75% in the combined entity. The enlarged Global Ports will operate seven container terminals, with a total marine container handling capacity of approximately 4m TEU’s, located both around the Baltic Sea and the Russian Far East.

Global Ports is now the largest container terminal operator in Russia.

The jointly owned Brasil Terminal Portuario in Santos, Brazil commenced operations during Q3 2013. This was eight months later than expected due to delays in getting the necessary permits issued. Operations are in a ramp up phase. The facility is equipped with eight Ship-to-Shore cranes operating over 1,100 meters of quay.

APM Terminals opened the 600 metres re-constructed quay in Monrovia, Liberia. The re-construction was completed on time and within budget. APM Terminals divested 70% of the Brigantine Group in Hong Kong, China at the end of the year.

Press Release, February 28, 2014

Share this article

Follow Dredging Today

One thought on “APM Terminals Achieves Increased Profit in 2013”

Comments are closed.

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply