APM Terminals reports profit of USD 223 mln
APM Terminals delivered an increased profit of USD 223 m (USD 179m ) and a return on invested capital of 14.2 % (12. 8 %), the company said in its press release. Terminals becoming fully operational and new terminals added to the portfolio supported the 8 % growth in volume. More than 80% of EBITDA was generated in growth markets, 41 out of 66 container terminals are located and operated in these markets.
Revenue increased 6%, representing the growth in volume and tariff increases in p ort a ctivities, partly offset by a decrease in Inland Services due to divestment of activities in North America and Asia.
The EBITDA margin improved to 23.0% (20 .4%) supported to a large extent by the increase in volume and increased tariffs. The inves ted capital increased to USD 6.4 bn (USD 5.6bn) reflecting the continued high investment level in APM Terminals , developing 7 terminals and expansions in 16 terminals .
Operational cash flow was negatively impacted by VAT receivables accumulating in connection with construction activities, primarily in Latin America.
“ APM Terminals had a good performance in the second quarter and in the first half of 2014 . The rise in our first h alf results came despite challenging conditions , ” said Kim Fejfer, APM Terminals CEO. “It is crucial for our Global Terminal Network to p rovide stable operations and constantly improve our efficiency and portfolio offerings to our customers . This November, we are excited to introduce the world’s first fully automated container terminal which produces zero emissions from container handling equipment, launching a new era in container handling productivity and safety . ”
Portfolio developments
• Angola : Sociedade Gestora de Terminais S.A. (Sogester) signed a 20 year concession to operate, maintain and develop the Port of Namibe, which serves the hinterland from Namibe to Menongue through the city of Lubango for both container and general cargo.
• Algeciras, Spain : APM Terminals Algeciras invested USD 73 m illion to upgrade four existing cranes , add ing four new cranes along with other infrastructure improvements in the strategic West Med market. The facility is Spain’s largest container port .
• Rotterdam, The Netherlands : APM Terminals Maasvlakte II terminal exercised the option to buy 22 more Automated Rail Mounted Gantry cranes (ARMGs ) for Phase I operations of the new 2.7 TEU million annual capacity, deep - water terminal, open ing November 2014. The 30 - meter wide ARMGs will use a fully automated system to load and unload containers onto and off external truck chassis, and onto a fleet of 37 battery - powered Lift Automated Guided Vehicles (Lift AGVs) in what will be the world’s most technologically advanced , “green” container terminal with zero emissions from terminal handling equipment .
• Santos, Brazil : C hannel dredging was completed , e nabling Brasil Terminal Portuaria, an APM Terminals – TIL joint venture, to attract large r container vessels being deployed in the trade and improve Brazilian supply chain s. • Itajai, Brazil : Berth 1 reconstruction was completed and is fully operational. In 2011, it was destroyed during a flood .
• Portsmouth, Virginia, USA: APM Terminals Virginia sold its Portsmouth container terminal . The transaction is expected to close during Q3. Productivity drive APM Terminals efforts to improve port productivity are ongoing with a structured approach to continuously improve processes in each location. The scope of these improvements considers everything from initial planning to the introduction of new technology. The goal is to lead the industry in productivity and reliability while proactively managing the changes that larger container vessels and the rise of mega alliances are bringing to markets. The Journal of Commerce 2013 study of port productivity data recognized APM Terminals Yokohama as the world’s leading container terminal in productivity . Eleven facilities which are part of the APM Terminals Global Terminal Network were cited in the study, out of a total of 32 terminals named as the global, and three regional designations’ productivity leaders.
