Good result despite weak demand

Good result despite weak demand

 • Sales declined by 8 per cent to SEK 675 million (733)

  (2010: ≈ MEUR 75, 2009: ≈ MEUR 70)

• Costs were kept at the same level as in 2009

• The operating profit was SEK 116 million (128)

  (2010: ≈ MEUR 13, 2009: ≈ MEUR 12)

• The expansion of the North Port in Malmö is proceeding to plan

• A decision has been taken to build a new cruise ship quay in Copenhagen. The quay will open in 2013

 Copenhagen Malmö Port AB (CMP), a Danish-Swedish company, is the largest port operator in the Öresund region. The company offers transport and logistics services in one of the Nordic region’s most expansive markets. Operations comprise cruise, ferry, RoRo and container traffic, car imports, combi traffic and oil and dry bulk terminals. The company has about 400 employees.

Highlights of 2010

 The general slowdown in the economy, in the Öresund region and globally, had a negative impact on CMP’s sales and earnings compared with 2009. Freight turnover was flat, at 15 million tonnes. Despite generally weak demand, several of CMP’s business areas reported stronger results. The clearest improvement occurred in car transports. Renewed momentum saw volumes increase by around 60 per cent in 2010, with growth continuing into 2011. Combi traffic by rail also saw a strong improvement. The number of units soared from 12,000 in 2009 to 55,000 in 2010. Volumes also grew in liquid bulk, especially in transit oil. In cruise traffic the number of port calls declined slightly but Copenhagen has, by a wide margin, retained its position as the leading cruise ship destination in the Baltic Sea region.

 “Our earnings for 2010 are acceptable in view of the weak market. It is clear that demand in those industries which affect our freight volumes has not yet picked up. The weaker Danish krone had a negative impact on earnings of about SEK 15 million compared with 2009,” Johan Röstin, CMP’s chief executive, says.

 “In 2010 work on expanding the North Port in Malmö continued as planned. A decision was also taken to build a new cruise ship quay in Copenhagen, which is scheduled to open in time for the 2013 cruise ship season,” he says. CMP also signed new agreements covering port operations in Malmö and Copenhagen, which now run until 2035. These are strategic moves, which show that our owners believe in CMP and in our ability to help improve the long-term competitiveness of the Baltic Sea region.

 Cost adaptations

 In 2010 CMP also implemented a number of measures aimed at adapting the company’s costs. The number of permanent staff was reduced by 18, largely through voluntary retirement and a decision was taken to invest in a new STS crane (ship-to-shore) for the new container terminal in Malmö’s North Port. The crane and terminal will go into operation after summer 2011.

 “The RoRo and combi terminals, however, will become operational already in May 2011,” Johan Röstin says. “The North Port will increase freight capacity several times over, but it will also reduce CMP’s impact on the environment – through faster and more efficient mooring processes at land and at sea, which will cut emissions.”

 “The cruise ship terminal will help us advance our positions. Although the number of cruise ship calls declined from 335 in 2009 to 310 in 2010, the ships are becoming ever larger. Copenhagen remains a popular destination, and we have 368 arrivals registered for 2011.”

 Having invested billions of kronor in Copenhagen and Malmö, the company’s capital expenditure has of course increased. This will increase the pressure on CMP and on an expansive business in coming years.

 “Increasing sales against this background will be our key objective. We need to raise volumes in all business areas, boosting growth among both new and existing customers,” Johan Röstin stresses.

 “We need to put more energy into marketing CMP and the Öresund region to show the competitive advantages we can offer,” he concludes. “I am thinking of the strategic location, but also of the modern infrastructure and our experience of serving as a hub for different types of goods.”

  

Key performance indicators, Copenhagen Malmö Port, 2006–2010

                                             2006              2007              2008              2009              2010

 Net sales, SEKm                649                733                784                733                675

Profit after

financial items, SEKm        93                  146                181                128                116

Net margin, %                    14                  20                  23                  17                  17

Equity/assets ratio, %         61                  68                  72                  75                  73

Number of employees        473                490                476                412                404

  

About CMP

Copenhagen Malmö Port AB (CMP), a Danish-Swedish company, is the largest port operator in the Öresund region. Each year, the company offers efficient transport services to nearly 8,000 ships in one of the Nordic region’s most dynamic and expansive markets. CMP was formed in 2001 through the merger of the ports of Malmö and Copenhagen. The company has about 400 employees and generated sales of SEK 785 million in 2009. CMP’s operations comprise cruise and container traffic as well as RoRo, tank and dry bulk ships. The company also has the Nordic region’s largest hub for car transports, handling 500,000 vehicles annually. CMP’s activities are based on concern for the environment and sustainable solutions in technology, infrastructure and services.

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Latest news
11 November 2019
On Monday, Minister for Transport Benny Engelbrecht visited the Port of Copenhagen for a meeting with Danish Ports and Copenhagen Malmö Port (CMP). The main topics for discussion were the Danish Ports Act and the green transition, and the Minister was also given a tour of the port.
30 October 2019
Malmö Industrial Park will be at Logistics & Transport – the Nordic region’s leading trade fair for everybody working with freight flows – in 2019 too. Malmö City and CMP will occupy a joint stand to show why Sweden’s best logistics location is in Malmö.
28 October 2019
Now that the cruise season can be summarised, it can be revealed that CMP is continuing to break records. This year’s contender is Visby, where the number of arrivals increased by 40 per cent. At the same time, Copenhagen is consolidating its position as Northern Europe’s major destination.
9 October 2019
Copenhagen Malmö Port (CMP) and DFDS have reached an agreement to establish a shore power facility in Copenhagen, which means that the Crown Seaways and Pearl Seaways vessels will be able to receive electricity from land. Shore power facility reduce emissions of air contaminated particles such as NOx, SOx and particulate matter, which goes hand in hand with the ambitions of both CMP and DFDS to actively contribute to a greener Copenhagen.

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