Port of Esbjerg’s Focus on Wind, Oil&Gas, RoRo Pays Off

The Port of Esbjerg reported a net profit of EUR 10.31 million for 2015, which is slightly below the high profits over the past years. With a turnover of EUR 30.03 million (EUR 30.17 million in 2014), the Port deemed its results satisfactory and said its business strategy is working even though market conditions have changed.

Photo: Port of Esbjerg

“The net profit for 2015 is in line with our expectations. It confirms that the Port of Esbjerg is a robust business and that the port’s focus on three business areas – wind, oil/gas and RoRo – is the right one. At the same time, we have the capital base required to run a business like the Port of Esbjerg, where ongoing investments are necessary to match customer demands. Demands, which reflect strong, international competition,” said Flemming N. Enevoldsen, Chairman of the Board at the Port of Esbjerg.

The turnover of high-value cargo such as wind components and new cars translates into turnover and jobs for businesses based at the port. Therefore, the focus is not just on the total cargo turnover but on the cargo types, which create value and jobs.

According to Port Director Ole Ingrisch, the situation underlines that the port has made the right priorities during its work to create the best possible framework for the businesses at the port. “We must continue to develop the port’s infrastructure and provide flexible, well-functioning and cost-effective solutions, which contribute to our customers’ competitiveness during both good and less good times. And we must dare to prioritise our investments and services in close dialogue with our customers.”

The Port of Esbjerg expects the result for 2016 to end at the same level as in 2015, although the low oil price will make it difficult for both the Port of Esbjerg and the businesses at the port. “We are of course very aware of the difficult market, which the businesses in the oil and gas industry are operating in at the moment. This adds to the insecurity for many of our customers and we also feel this at the port,” says Ole Ingrisch, Port Director.