The Netherlands: Port of Rotterdam Releases 2010 Financial Results

The Port Authority’s results for 2010 amount to € 154 million. That is € 10 million more than the results for 2009, excluding the one-off proceeds of a sale during that year. The increase in the results is thanks, among other things, to the strong recovery in goods throughput in 2010 (+11%). CEO Hans Smits: “We are extremely satisfied with these figures. They mean that we, as Port Authority, are able to implement our extensive investment programme. That is very important for the future of the mainport.”

The two main sources of income for the Port Authority are the sea harbour dues that vessels pay when visiting the port and the leasing of sites. The harbour dues increased by € 14 million to € 288 million, despite the crisis discount of 7% which was deducted from the tariffs throughout the year. The revenue from leasing land increased by € 17 million to € 249 million. In total, operating income was up 6.2% to € 551 million, € 32 million more than in 2009. The normal operating costs remained virtually equal to those in 2009.

The financial position of the Port Authority is developing favourably. A solid financial position is important if the Port Authority is to achieve its big investment ambitions. The investment level of the Port Authority reached the highest point in its history in 2010. In total, € 445 million was invested, € 324 million of which in Maasvlakte 2 and € 121 million in the existing port area. In 2011, the volume of investment will increase further, to approximately € 575 million, over € 400 million of which will be spent on Maasvlakte 2.

Over 2010, the Port Authority paid out € 63.8 million as dividend to its shareholders, the municipality of Rotterdam (70%) and the State (30%).

The Port Authority is optimistic about developments in 2011 and expects further growth in throughput of 2 to 3%. The net results for 2011 are expected to grow, due to increasing revenue and unchanged expenses.

[mappress]

Source: portofrotterdam, March 29, 2011