Record mid-year results for Eurogate

At Bremerhaven, Eurogate’s volumes increased by 11.1% year-on-year, from 2,092,340 teu at the midway point of 2006 to 2,325,598 teu in 2007. At Hamburg volumes rose by 14.9%, from 1,241,252 teu to 1,425,791 teu. Italian affiliate Contship Italia posted outstanding growth of 20.5%, with volumes rising from 2,532,070 teu to 3,050,005 teu.

The increase in volumes was reflected in earnings. Eurogate’s consolidated half-yearly net income for 2007 amounted to €54.1m, compared with €37.7m in 2006. Mid-year sales rose from €275m in 2006 to €317.8m in 2007. The exceptionally positive business trend is expected to continue until the end of the year, according to the company.

Emanuel Schiffer, chairman of the Eurogate group, said: “The result clearly shows that out forecasts were correct. The growing size of vessels also means that an increasing volume of containers is being handled at the seaports. With our investments in Bremerhaven, Hamburg and Wilhelmshaven, we have prepared for this growth in good time. It is now time to implement the right measures. The deepening of the River Elbe and also the deepening of the shipping channel in the Outer Weser are urgently necessary.”