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Dublin Port Company Annual Report 2007

Dublin Port throughput in 2007 passes 30 million tonnes barrier

Dublin Port Company has published its 2007 Annual results and trading figures for the first six months of 2008 which show that Dublin Port Company continues to successfully facilitate increased demand for throughput, increase its turnover, manage its cost base and deliver an increase in profitability while investing significantly in ensuring the Ireland's premier port can continue to fulfill its role as a key strategic infrastructural asset for the Irish economy.

2007 Highlights:

  • Total Trade Throughput: 2007 – 30.9 million tonnes (up 6% on 2006)
  • Ferry Passengers - 1.3 million (up 12% on 2006)
  • Underlying operating profit - €28.5 million (up 7% on 2006)
  • Turnover - €70.5 million (up 6% on 2006)
  • Capital Investment of €42 million
  • Pension Fund assets - €205 million (minimum pension funding standard reached)
  • First State Port Company to pay a dividend to the shareholder - €4.2 million

January - June 2008:

  • Throughput - 15.3 million tonnes (down 0.9%)
  • Turnover - €35.3 million (up 3.8%)
  • Trade Cars - 70,949 (down 13.1%)  
  • Capital Investment of €12 million (€30 million total in 2008)
  • Dividend paid €5.1 million (up 21%)
  • Tourist Cars - 121,008 (up 5.8%)
  • Tourist Passengers - 589,033 (up 0.3%)
  • Cruise Liner Visits - 32 (80 total due in 2008)

Trade at Dublin Port, Ireland's premier port, surpassed 30 million tonnes for the first time in 2007 and despite the economic downturn Dublin Port is expected to handle a similar volume in 2008. 

A key factor in driving trade growth in 2007 was the unitised trade, both Roll-on Roll-off (RoRo) and Lift-on Lift-off (LoLo) which accounts for 80% of throughput. In 2007 the RoRo trade grew by 5.8% with LoLo growing by 9.3%.

Commenting on the record trade figures to pass through Dublin Port, Mr. Enda Connellan, CEO, Dublin Port Company, said, “The Port handled over 30 million tonnes in 2007, the fifteenth consecutive growth in throughput. Dublin Port Company continues to deliver increases in turnover and profit levels by managing costs rigorously, increasing significantly to cater for the increased capacity requirements of importers and exporters and maintaining the Port's cost competiveness by not increasing vessel and goods dues to the unitised trade.

Dublin Port is the port of choice for Ireland's importers and exporters. Over 80% of imports through Dublin Port are consumer goods destined for retail outlets in the city and surrounding areas. With over 50% of imports through the port staying within the M50, Dublin Port remains the cleanest, greenest and most efficient way of getting goods to consumers and to facilitate exporters.

Commenting on the record trade figures to pass through Dublin Port, Mr. Michael Sheary, Chief Financial Officer, Dublin Port Company, said, "Last year the Company successfully reached the minimum funding standard requirement under the Pensions Act. This marks a significant achievement for the Company given we inherited a pension fund deficit in 1996 and since then have built a fund of over €200 million. The Company also became the first of the State Port Companies to pay a dividend to its shareholder, the Minister of Transport, of €4.2m

Date Published: Tuesday 12. of August 2008

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