APM Terminals says record 2011 profits will boost expansion

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APM Terminals says record 2011 profits will boost expansion

Global port operator APM Terminals profits showed a 24% year-on-year rise to US$ 611 million in 2011, before gains and special items.

The Netherlands-based global port operator said it was a "record year" and predicted 2012 would continue to bring profit gains.

CEO Kim Fejfer said the results reflected the company's ambitious growth plans.

"We committed more than US$3 billion to infrastructure development and facility expansion in 2011 and expect to do something similar in 2012," he said.

The company said  its return on invested capital, which it considers a key operating figure, reached 13.1%, compared to 10.4% in 2010.

Revenues also showed a 10% year-on-year rise to US$4.7 billion; the increase in sales came as the company added five new port locations in Costa Rica, Mexico, Peru, Georgia and Sweden.

The company said these complemented other projects in the pipeline: Santos, Brazil; Rotterdam, Netherlands; Wilhelmshaven, Germany and Vado, Italy.

In terms of containers handled in 2011, the company saw a 8% increase to 33.5 million for the year.

The company said it invested US$3 billion into infrastructure in 2011 and expects a similar investment for 2012. APM Terminals has recently also announced upcoming investments in Izmir, Turkey.

Photo: APM Terminals

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