New York Ports
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APM Terminals reports strong improvement, revenue growth of 27%
APM Terminals, one of the leading global developers and operators of ports and container terminals, realized a net result of USD 185 million for the 1st Half 2008, compared to USD 51 million for the same period of last year. Revenue increased by 27% to USD 1.5 billion, and the EBITDA margin improved from 18% in 2007 to 21%. First half volume handled, weighted by ownership share, increased by 9% versus an estimated general market growth rate of 8%. The result for the 1st Half 2008 was positively impacted by a USD 59 million gain on selling a 20% shareholding in the Qasim International Container Terminal in Port Qasim, Pakistan.Kim Fejfer, CEO, APM Terminals, stated “In very challenging shipping and economic environments APM Terminals’ progress and growth remain steady and positive. The strength of the organization and the Global Terminal Network is reflected not only in our financial performance, but in our continued success in gaining new customers and winning new terminal development projects around the world.”
During the 1st Half of 2008, APM Terminals has continued to grow, and completed implementation of terminal projects in Xiamen (China), Tangier (Morocco) and Tema (Ghana). Implementations have started in Vado (Italy) and expansion projects in Salalah (Oman), Rotterdam (The Netherlands) and Tanjung Pelepas (Malaysia). Volume from other customers than Maersk Line constitutes an increasing share of total volume (38% in 1st half 2008 vs. 33% in 1st half 2007).
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