EUROGATE increases net profits 13.4% in 2015

The European container terminal operator posted net profits of 73.5 million euros on revenues of 591.3 million euros, year-over-year increases of 13.4 percent and 4.5 percent, respectively.

   The EUROGATE Group’s net profits for 2015 totaled 73.5 million euros (U.S. 83.7 million), a 13.4 percent increase from 2014, the European container terminal operator said.
   Revenues increased 4.5 percent year-over-year in 2015 to 591.3 million euros.
   EUROGATE’s earnings before interest, taxes, depreciation and amortization reached 148.1 million euros, a 10.7 percent increase from 2014.
   Meanwhile, the container terminal operator handled 14.5 million TEUs in 2015, a 2 percent decline from 2014.
   During the year, the number of containerships larger than 10,000 TEUs calling at EUROGATE’s German terminals grew nearly 35 percent year-over-year to 618 ports of call. EUROGATE Container Terminal Wilhelmshaven, Germany’s only deep-water container terminal, was particularly successful during the year, which increased volumes by 536.2 percent from 2014 to 426,751 TEUs, benefitting from the trend towards larger vessels.
   “EUROGATE has achieved good operating results that will enable us in the coming years to make the group fit for the challenges of the future,” EUROGATE Group Management Board Chairman Emanuel Schiffer said. “However, despite this positive result we cannot hide the fact that the market conditions in our industry have become more difficult. The global economy has lost its momentum.”
   “Consequently, the volume of goods being traded internationally is down, which leads among other things to a general slowdown in global container handling at the seaports,” Schiffer added. “We are currently confronted by a mature market characterised by highly intense competition.”
   Based out of Bremen, Germany, EUROGATE operates terminals in Bremerhaven, Wilhelmshaven, Hamburg, Ust-Luga, Lisbon, Tangier, Cagliari, La Spezia, Salerno, Gioia Tauro and Ravenna.
   EUROGATE operates one terminal each at these ports, except in Bremerhaven, where the company operates EUROGATE Container Terminal Bremerhaven; North Sea Terminal Bremerhaven, a joint venture with Maersk Line; and MSC Gate Bremerhaven, a joint venture with Mediterranean Shipping Company, according to EUROGATE’s website.