Growth of North Sea Port in 2019 also visible in financial results for 2019

July 20, 2020

In 2019, North Sea Port set a new record for seaborne cargo transhipment of 71.5 million tonnes. This growth and, above all, the issue of more land are reflected in the turnover and results of the merged port.

The profit before tax for 2019 was €34.4 million, which is €0.5 million higher than in 2018. At €107 million, total turnover was €2.3 million euros higher than in 2018. Port dues – for the use of port infrastructure and maritime services – contributed €45 million to turnover (+ €1.6 million). Turnover from the issue of land rose to €51.3 million (+ €2.2 million). Other revenues fell by €2.5 million due to the fact that there were some non-recurring revenues in 2018.

Operating expenses totalled €63 million in 2019. This represents an increase of €2.5 million compared to 2018, a large part of which is due to increases related to collective labour agreements and indexation.

Coronavirus crisis

In recent years, North Sea Port has seen a steady increase in cargo transhipment and a parallel increase in turnover. The coronavirus crisis is not only impacting on the volume of cargo transhipment, it will also be visible in the financial results for 2020. North Sea Port is taking the necessary steps to mitigate the costs as far as possible.