A positive cash flow is prompting Port of Rotterdam Authority executives to continue investment in the port despite a decline in profits.
In 2015, turnover increased by 2.6% to €676.9 million. This was mainly due to a 4.9% rise in the throughput of goods as a result of which the Port Authority received more port dues.
This meant that profits fell by 1.7% to €211.6 million due to the redemption of a long-term loan.
Revenues from the lease of sites grow by €3.3 million to €340.8 million. This is the result of the allocation of a site to Sif – Verbrugge at Maasvlakte 2, indexation of contracts and renewal of contracts at revised prices, and termination of the contract with Shtandart, result in the recovery of a site.
Operating revenues rose by €17.1 million and environmentally-friendly ships were granted discounts on port due, which totalled €3.8 million.
Investments in 2015 at the port included the construction of the LNG breakbulk terminal, a jetty for LBC and the redevelopment of RDM Rotterdam.
Chief financial officer Paul Smits says: ‘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.’