Growth and good prospects

Port of Grenaa reports growth and good prospects

The financial results of 2017 are better than budgeted, and the upward trends continue in 2018, so it appeared from Port of Grenaa’s annual general assembly.

Bent Hansen, chairman of the board of Port of Grenaa, was a content man when he presented his report at the company’s annual general meeting in Grenaa.

In 2017, the consequences of the port’s ambitious strategy plan became obvious in the form of increased activities in the port. And the company’s profit performance has kept up with this.

It is now obvious to all that the port’s venture and the quite heavy investments were the right decisions. Over the past year, Port of Grenaa has satisfied the expectations of the board and its surroundings and has delivered a number of results which are direct and indirect consequences of the strategy we had laid down for the development of the port, says Bent Hansen in his report. He continues:

“Today, we can literally see the growth along the port’s wharfs. We can also see the results in the financial statement which the board presents today. A financial statement which the board deems very satisfactory,” says Bent Hansen.

Increased turnover from cargo handling

In 2017, the port handled a total of 1,450,000 tons of cargo – an increase of 6 % compared to the year before. In Danish kroner, this means DKK 50.7 million – compared to DKK 52.7 million in 2016.

The decrease in earnings is due to the port’s sale of tank yards, which was an element of the new strategy plan.

On the other hand, the annual result after tax increased – from DKK 8.0 million in 2016 to DKK 8.5 million in 2017. This is DKK 2.5 million more than estimated.

The port’s CEO, Henrik Carstensen, finds it particularly satisfactory that the year’s profits are a direct result of the port’s day-to-day operations.

“We achieved the desired increase in the port’s cargo tonnage but had to face a foreseen decrease in turnover from the sale of the tank yards. Still, we can present a result that is substantially above budget,” says Henrik Carstensen.

He shares the board of directors’ joy in the fact that the good progress continues in 2018. The prospering turnover and profit performance continue to exceed budget, and the financial statement for the first quarter of 2018 is among the best in the port’s history.

New members of the board of directors

Because of the municipal elections in November 2017, the general assembly was to elect new representatives to the board of directors among the members of the Norddjurs Municipality.

The board elected Kasper Bjerregaard (V), Lars Pedersen (S) and Steen Jensen (DF).

Following the general assembly, the board of directors elected Bent Hansen as its chairman and Lars Pedersen as vice chairman.