Robust results for APM Terminals

The first half of the year was characterised by new terminal openings: operations recently commenced at the new 1.1m teu capacity Cai Mep International Terminal in Vietnam; at the multi-service facilities at the Port of Monrovia, Liberia, West Africa and at Poti Seaport in the Republic of Georgia on the Black Sea. Concession agreements were also signed for the Terminal Muelle Norte at the port of Callao, Peru where the successful takeover of operations occurred just 50 days after contract signing.

Return on Invested Capital after tax (ROIC) was 12.2% for the period, and profit before depreciation, amortisation and impairment losses and (EBITDA) increased by 22% over the same period in 2010 to US$513m, representing the highest level for first half results in the company’s history. On a like-for-like basis, container throughput increased by 8% to 16.2m teu with container traffic from non-A.P Moller-Maersk Group affiliates increasing to 46% of total business compared with 43% in the same period the previous year.

“During the first half of 2011 we have committed more than US$1bn in new terminals to drive our portfolio expansion and the execution of our strategic growth programme. I remain optimistic about our opportunity to create value and grow the business, said APM Terminals CEO Kim Fejfer.