APM Terminals posts $166 million profit for Q1 2013

  • Container throughput unchanged at 8.6 million TEU as high growth markets offset reduced North American and Western European volumes

APM Terminals, the world’s largest terminal operator, has reported a relatively strong first quarter after posting profits of US$166 million for the first quarter.

The terminal operating arm of the AP Moller Maersk Group reported profits of $226 million during the corresponding period in 2012. However, this result included a divestment gain of $73 million following the sale of Maersk Equipment Service Company Inc (MESC) and half of the company’s stake in the Port of Xiamen, China.

Operational cash flow was recorded at $242 million for the first three months of the year, and the company delivered a return on invested capital (ROIC) of 12 percent.

Container volumes at APM Terminals global portfolio of terminals remained unchanged year-over-year during the first quarter after 8.6 million TEU was shifted once more.

In a statement, APM Terminals said that positive developments at terminals in high growth markets were able to “offset reduced volumes in North America and Western Europe”, as well as reduced activity in Inland Services following the divestment of MESC in March last year. The global container terminal market saw a three percent increase in container volumes during the first quarter of 2013.

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