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EUROKAI GmbH & Co. KGaA –  Third Quarter Container Traffic Down Over 9%

EUROKAI GmbH & Co. KGaA – third quarter container traffic down over 9%

Hamburg, Germany (PortSEurope) November 16, 2020 – EUROKAI GmbH & Co. KGaA has reported third quarter results showing reduced container throughput at its terminals. Container terminals handled 8.0 million TEUs compared to 8.9 million TEUs in the same period of 2019, a reduction of 9.5%. The decline was mainly due to lower handling figures at La Spezia (Italy), down 15.6%, and Germany terminals by 7.6%.
Handling figures at the other terminals were down by 11.3%. Handling figures for the container terminals in the EUROKAI Group, including the terminals in Italy, Germany, Morocco, Cyprus, Portugal and Russia TerminalJan-Sep 2020Jan-Sep 2019Diff(TEU)(TEU)(%)Hamburg1,552,5461,615,973-3.9Bremerhaven3,528,5643,736,020-5.6%Wilhelmshaven324,577498,542-34.9%Total Germany5,405,6875,850,535-7.6%La Spezia 773,042986,537-21.6%Salerno283,985273,706+3.8%Ravenna124,022138,553-10.5%Total Italy1,181,0491,398,796-15.6%Tangier (Morocco)1,054,2451,164,434-9.5%Limassol (Cyprus) 288,711302,901-4.7%Lisbon (Portugal) 55,824107,899-48.3%Ust-Luga (Russia)39,92847,106-15.2%Total Other1,438,7081,622,340-11.3%TOTAL EUROKAI8,025,4448,871,671-9.5%Source: EUROKAI The volumes show total handling at each of the container terminals in question. Group earnings derive exclusively, however, from the handling volumes at the fully consolidated terminal in La Spezia. On grounds of comparability, the handling statistics no long include handling volumes at CICT Porto Industriale Cagliari S.p.A., Cagliari, now in liquidation, since the company’s operating business was already discontinued at the end of 2019. CONTSHIP Italia Handling volumes at the CONTSHIP Italia Group registered 1.2 million TEUs, down 15.6% on those of the same period in the previous year (1.4 million TEUs). This decline in handling volumes is mainly due to the fall in handling in La Spezia (-21.6%). La Spezia Container Terminal S.p.A. has used the fall in handling, especially steep in the second quarter of 2020, to take berths and working areas, temporarily not needed, out of operation for repair work. In this way it has been possible to minimise the structural restrictions and impact on the terminal’s operations, which are in anycase reduced. For the period under review, due to the decline in handling and transport volumes, and particularly due to the elimination of the book profit realised in the previous year from the sale of the CSM/MCT shares, a significant decline in result is shown for the CONTSHIP Italia segment, yet a result which is still strongly positive. EUROGATE Handling volumes for the EUROGATE Group at the German terminals of Hamburg, Bremerhaven and Wilhelmshaven, standing at 5.4 million TEUs, fell in the period under review by a total of 7.6% compared with the same period of the previous year (5.9 million TEUs). While handling volume at the Hamburg terminal in the period under review was down by 3.9% compared with the same period of the previous year, the Bremerhaven terminal recorded a fall in handling of 5.6%. At the Wilhelmshaven terminal handling volumes as of the end of the thirdquarter 2020 actually fell by 34.9% compared with the same period of the previous year. Handling volumes at EUROGATE Tangier, Morocco (-9.5%), EUROGATE Container Terminal Limassol, Cyprus (-4.7%), Ust-Luga Container Terminal, Russia (-15.2%) and LISCONT, Portugal (-48.3 %) have all continued on a downward trend. As a consequence of this significant volume decline and the elimination of positive one-off effects, the EUROGATE segment posted a negative operating result in the period under review. Given the equally significant fall in income from affiliated companies, the overall cumulated result at the EUROGATE segment in the period under review has fallen significantlycompared with the period under review of the previous year and is markedly negative. The company said in a press release: “In the business year 2020, along with its structural problems, our market environment has been adversely affected by the coronavirus pandemic. The slump in the business economy which this has caused can also be clearly seen in the results for the current year. The management in charge both at CONTSHIP Italia and the EUROGATE Group has responded in good time to this development with measures of cost reduction and postponement of capital investments. The group management of the EUROGATE Group is currently implementing a comprehensive transformation programme, with the aim of achieving sustainable productivity improvements and Group-wide cost savings in the order of €84 million a year, which are due to be realisedin full from 2024″. Source: EUROKAI Copyright (C) PortSEurope. All Rights Reserved. 2020.

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