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Bremen, 8 April 2014 +++ In fiscal 2013, the EUROGATE Group successfully navigated
the challenges that continue to be characterised by a difficult market and industry
environment and increased group annual net profit by 13.3% to EUR 61.9 million.
Container handling volumes once again exceeded the peak value of 14 million TEUs.
With a rise of 7.3% year-on-year, the EUROGATE Group handled a total of 14.2 million
TEUs. This number is a record since the foundation of the company 15 years ago. At
EUR 657.2 million, revenue actually exceeded the previous years level. Investments in
2013 amounted to only around one quarter of the previous years volume at
EUR 38 million. The EUROGATE Group can thus look back on an extremely gratifying
business performance in 2013. This can also be attributed to the Groups international
corporate strategy, which factors in the necessary lead times for new terminal facilities
and spreads corporate risks over several locations. EUROGATE is Germanys largest
terminal operator with shareholdings in Germany, Italy, Morocco, Portugal and Russia.
Thomas Eckelmann, Chairman of the EUROGATE Group Management Board: Our year-end
results and our sound balance sheet structure encourage us to feel confident. The economic
environment and the startup losses incurred as a result of the start of operations of the
EUROGATE Container Terminal Wilhelmshaven were difficult hurdles to be overcome on the
way to achieving this good result. Our international corporate strategy with its calculated risk
is what determines our path to success. It is decisive in enabling us to summon up the
necessary staying power for the long lead times on our greenfield projects. I believe we are
well-positioned for the future, despite the infrastructure challenges at a number of locations.
As service providers, we are in a position to offer our customers service that meets their
expectations in terms of productivity and quality at all times. The proof of this is that
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EUROGATE in Bremerhaven and Wilhelmshaven are the only terminal locations in Germany
where 18,000-TEU vessels are handled.
The general economic situation in 2013 was more encouraging than in 2012 and there are
positive signs that transported container load volumes will continue to grow. On the other
hand the terminal overcapacities in the North Range harbour certain risks, as well as
opportunities resulting from the ongoing trend towards ever larger vessels. There is a
continued consolidation trend among shipping lines, which presents opportunities and risks in
equal measure.
The German terminals in the EUROGATE Group fell slightly behind the previous years
volumes by 1.2%. The container terminals in Bremerhaven recorded an overall decline in
handling volume of 4.7%. However, the Bremerhaven location is excellently equipped to
handle mega ocean carriers of the next generation. In August 2013, the Maersk McKinney
Moeller, currently the worlds largest container ship with a transport capacity of 18,270 TEUs,
was handled at the NTB North Sea Terminal Bremerhaven with no problem at all. In addition
to its core business in container handling, Bremerhaven with equal success provides
handling and storage for heavy-duty components for constructing on- and offshore wind
turbines.
A highly positive volume of traffic was recorded by the EUROGATE Container Terminal
Hamburg. The terminal is back on track for growth and increased its handling volume by
7.9%. Since mid-2013, the Zim shipping line and the feeder and short sea operator Unifeeder
have consolidated their transport operations in the port of Hamburg exclusively through the
EUROGATE Container Terminal Hamburg. As well as the convenience of the EUROKOMBI
intermodal rail station located directly adjacent to the container terminal, the new customers
were impressed by the flexibility and quality of EUROGATEs handling competence.
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The development in the general infrastructure situation at the port of Hamburg has to be
viewed critically, however. The postponed adjustments to the River Elbe navigation channel
and the infrastructure projects to improve the road network are increasingly becoming a
problem for the location.
The southern European container terminals grew faster than the market in 2013. For the first
time in its history, EUROGATE Tanger reached the 1-million-TEU threshold. Due to the trend
towards ever larger vessels, shipping lines are increasingly having to rely on transhipment as
opposed to direct scheduled routes. This benefited the container terminals in the Contship
Italia Group. MCT Medcenter Container Terminal in Gioia Tauro increased its handling
volumes by an impressive 12.8%, and CICT Cagliari International Container Terminal by
11.8%. LSCT La Spezia Container Terminal, TCR in Ravenna and the Salerno Container
Terminal all profited from the economy of the surrounding regions. Whereas weak domestic
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demand within Italy in the aftermath of the economic crisis caused imports to stagnate,
overseas exports were up thanks to North Italys stable industry. Overall the Contship Italia
terminals handled an unanticipated 11.2% more TEUs than in the previous year. Taken
together, the EUROGATE Groups international holdings achieved an impressive volume
increase of 19.8% to 6.4 million TEUs.
The Russian terminal holding in Ust-Luga, a greenfield investment in what will in future be
Russias largest port, is showing a positive development. On the one hand this is down to the
upward trend in handling volumes and on the other to the fact that the merger of Russias two
largest container terminal companies in Global Ports has sustainably strengthened the
position of the EUROGATE holding in Ust-Luga.
EUROGATE has further strengthened its intermodal transport business segment. In the past
year, EUROGATE Intermodal increased its stake in the Hungarian rail operator Floyd Zrt.,
Budapest, to 64%. The Italian CONTSHIP Italia holding acquired the Italian traction company
OCEANOGATE in full. The shares in the feeder shipping line group UNIMED, based in
Limassol/Cyprus, were sold to Unifeeder, Aarhus. In conjunction with the sale of
OCEANGATE Distribution, which did no longer belong to the core activities of the
EUROGATE Group, these two transactions also contributed to the overall positive
development of earnings.
EUROGATE Container Terminal Hamburg. Wind turbines for Bremerhaven and for
Wilhelmshaven are planned. With a 90% efficiency rating, unit-type thermal power plants are
particularly efficient. EUROGATE has operated this type of power plant in Bremerhaven since
1987, in Wilhelmshaven since 2012 and in 2013 construction work began on an additional
plant in Hamburg. In the past year, energy-saving measures again made it possible to lower
energy consumption per container, bringing the total reduction in energy consumption since
2008 to 13%.
For more information visit www.eurogate.eu. EUROGATE GmbH & Co. KGaA, KG
Prsident-Kennedy-Platz 1A
28203 Bremen, Germany
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