Copenhagen Malmö Port enjoys positive year in 2008

In 2008, the Danish/Swedish port company Copenhagen Malmö Port (CMP) made a pre-tax profit of SEK 181 million, an increase of 24% compared to the previous year. Net sales rose by 7% to SEK 784 million.

Financial performance continued to improve, building on the positive foundations laid down in recent years. Since the company was founded in 2001, net sales have increased by 69% and annual profit has multiplied many times over but staff numbers have risen by just 8%.

CMP's cruise-ship and ferry traffic increased in 2008, while the number of automobiles and the volume of construction materials processed fell. Net freight sales amounted to 18 million tons, down 1% on the previous year.

While changing market conditions in the transport and logistics sector are expected to have a negative effect on CMP, net freight sales are expected to remain on more or less the same level as 2008. Only a single business area (Cruise Ships) is expected to experience significant growth in 2009. A total of 330 cruise ships are scheduled to call at the port, compared with 301 in 2008.

The result is highly satisfactory, especially considering the huge change in the economic climate in the latter part of 2008, says Lars Karlsson, Managing Director of CMP. The company's financial performance in 2008 was our best ever.Like many other transport and logistics companies, we expect a lower result in 2009. One factor will be the increasing cost of maintenance and investment, says the 60-year-old Managing Director, who is presenting his eighth and final set of annual accounts for CMP. He will be succeeded by Johan Röstin (46) at the Annual General Meeting on 3 April 2009.

The basic idea underpinning CMP is to service commercial shipping in the Øresund Region, and exploit the business potential of the Baltic Sea. It has proven to be a highly sustainable concept, says Karlsson, referring to the fact that CMP is not only the largest port company in the region, but is also a major presence in international automobile distribution, cruise ships and transit oil.

Source: Transportweekly