Last year saw major investment decisions that are contributing to making the port and the logistics chain to and from Rotterdam more sustainable. The financial results were stable, putting the Port Authority in a position to commit to further investments for a future-resilient port in the years to come as well.
Total cargo throughput in the port of Rotterdam this year amounted to 438.8 million tonnes, 6.1% less than in 2022 (467.4 million tonnes). The fall was mainly seen in coal throughput, containers, and other dry bulk. Throughput rose in the agribulk, iron ore & scrap, and LNG segments.
- Cargo throughput is down by 6.1% due to ongoing geopolitical unrest, low economic growth, and high inflation.
- Manifest progress on making industry and logistics chain more sustainable: investment decision made for Porthos, construction of national hydrogen network initiated, new shore power connections in place, land reclamation for Princess Alexiahaven started.
- Key developments in the container segment: investment decisions made for expansion of container terminals by APMT and RWG, Container Exchange Route (CER) officially opened, Nextlogic operational, widening of Yangtzekanaal started.
- Stable financial result for the Port of Rotterdam Authority.
- Port of Rotterdam's investment level continues to be high.
Finances
The Port Authority has had a stable year financially. Revenue rose by 1.9% to € 841.5 million, consisting mainly of contract revenue from land lease and port dues. As a result of price changes and new contracts, contract revenue rose by € 28.4 million. Revenue from port dues fell by € 4.6 million due to a combination of lower throughput and a higher price per tonne. Operating expenses increased by 3.8% (€ 10.7 million) to € 292.9 million because of higher payroll expenses and overhead. The operating result before interest, depreciation, and taxes (EBITDA) rose on balance by 0.9% to € 548.6 million. The net result was 5.6% (€ 13.7 million), down at € 233.5 million (2022: € 247.2 million). The lower net result was attributable to two one-off items in 2023. Acquired nitrogen deposition rights were revalued downward (€ 8.0 million) in response to the ruling from the Council of State relating to the 25-kilometre cut-off. In addition, the Porthos guarantee premium (€ 7.3 million) was booked, leading to a lower result for participating interests. Furthermore, interest expenses in 2023 were € 6.8 million higher because of higher interest rates than in 2022. The dividend proposal for the shareholders (the Municipality of Rotterdam and the Dutch State) was € 129.0 million (2021: € 132.3 million).
The Port Authority invested a total of € 295.4 million, almost 15% more than in 2022 (€ 257.0 million). The largest investments in 2023 were the investments in quay walls for the container sector (€ 72.9 million), land reclamation for the Prinses Alexiahaven (€ 23.1 million), and the fendering in the Rozenburg lock (€ 12.8 million).
For more information:
Port of Rotterdam
Tel.: +31 (0)10 252 10 10