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Eurogate’s volumes and profits up

Eurogate’s volumes and profits up

Eurogate Group profits rose by 13.3% to €61.9m (US$85.7m) in 2013 with container volumes increasing by 7.3 to 14.2m teu, the highest since the company was founded 15 years ago. Turnover at €657.2m (US$910m) was also higher, although Eurogate only invested €38m (US$52m) in the year, a quarter of the sum for the previous year.

A Eurogate statement said the result was partly due to the Group’s corporation’s international business strategy that takes into account the necessary lead times for new terminal facilities and also spreads business risks over several locations.

The Eurogate Group participates in terminals in Germany, Italy, Morocco, Portugal and Russia.

Thomas Eckelmann, Eurogate Group chairman said, “The economic environment and the start-up losses incurred as a result of the start of operations of Eurogate Container Terminal Wilhelmshaven were difficult hurdles to be overcome.”

“However, I believe we are well-positioned for the future,” citing Eurogate in Bremerhaven and Wilhelmshaven as the only terminals in Germany where 18,000 teu vessels are handled.”