APM Terminals posts 'strongest ever' profits of US$1.05 billion in 2011

2012 03 02

HAGUE-based APM Terminals, Maersk's port operator, has posted a 10 per cent year-on-year increase in operating profit to US$1.05 billion in 2011, making the results the "strongest ever", said CEO Kim Fejfer.

"If there were such a thing as a market share for expansion, we believe that APM Terminals would be the number one global port operator in 2011 in that category," he said.

The terminal operator net operating profit after tax in 2011 was $649 million, while profits, excluding sales gains and impairment losses, rose 24 per cent compared to $611 million in the previous year.

"This shows that APM Terminals is tracking well towards our long term goal of being the best and most profitable global port operator in the world. Profitability is our licence to grow," said Mr Fejfer.

And the return on invested capital, considered the "most important single key figure for the port operator" reached 13.1 per cent, showing a significant increase in profitability from 2010 where the return percentage was 10.4 per cent when corrected for divestment gains and special items.

In response to the expansion plan for the next decade, Mr Fejfer said the company is "eager to secure the lion's share of global growth opportunities."

Said Mr Fejfer: "We committed more than $3 billion to infrastructure development and facility expansion in 2011 and expect to do something similar in 2012."

During 2011, APM Terminals added five new locations to its company portfolio, including Poti in Georgia; Moin in Costa Rica; Callao in Peru, Gothenburg in Sweden and Lazaro Cardenas in Mexico. The terminal operator has also recently announced upcoming investments in Izmir, Turkey.

Regarding container handling volumes, it handled 33.5 million TEU in 2011, a eight per cent growth year on year.

"We are very humble about the fact that although financial performance went well some of our customers' experience has been more mixed as operations in container terminals in North Africa and the Middle East were negatively influenced by unrest related to the Arab Spring during 2011."

Volumes from customers outside the company's ownership sphere increased by 11 per cent year on year and now constitute 46 per cent of volumes handled.

"2011 was also the year where we developed and implemented a new corporate visual identity to enhance the APM Terminals brand as a truly independent company," he said.

Source Shipping Gazette - Daily Shipping News

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