Port of Rotterdam’s Turnover Up, Profit Down

first_imgzoom The Dutch Port of Rotterdam has reported an increase of 2.6 percent in turnover to EUR 676.9 million (USD 736.1 million) in 2015, mainly attributed to a 4.9 percent rise in the throughput of goods as a result of which the port received more port dues.Despite the growth in turnover, the port said that profits fell by 1.7 percent to EUR 211.6 million due to the redemption of a long-term loan, which has reduced the debt accumulated due to the construction of Maasvlakte 2.“Our financial situation shows a positive development. For the second consecutive year after the construction of Maasvlakte 2 the cash flow is positive, which allows us to continue to invest in the port and at the same time improve our debt position. The fact that our revenues have not increased to the same extent as the throughput shows that we are making an effort to keep Rotterdam attractive for business,” Chief Financial Officer, Paul Smits, said.Overall, operating revenues in the port of Rotterdam increased by 2.6 percent to EUR 676.9 million, while operating expenses rose by 3.3 percent to EUR 133.6 million.The increase in operating expenses is mainly attributed to higher costs for the management and maintenance of port infrastructure and investments in innovations such as PortXL and SmartPort.The port’s investment portfolio for the coming years includes the diversion of approximately 4 km of the Port Railway Line via the Theemsweg.last_img read more