12 April 2016

Dublin Port Company – 2016 Q1 Trade Figures

Dublin Port records 6.8% growth in Q1, announces €10.9m dividend

Strong performance builds on 17.3% growth in the three years to end 2015

Dublin Port Company today published trade statistics for the first quarter of 2016 showing continued strong growth of 6.8% after last year’s record throughput of 32.8 million gross tonnes.

Total throughput for the three months to the end of March was 8.4 million gross tonnes with 1,790 ship arrivals, equivalent to 20 ships each day. Both imports and exports grew strongly with imports ahead by 6.0% and exports even stronger at 7.9%.

Summary of Quarter 1 2016 Trade Statistics

Gross tonnes

Quarter 1 2016

Quarter 1 2015

% change

Total

8.4m

7.8m

6.8%

Imports

5.0m

4.7m

6.0%

Exports

3.4m

3.1m

7.9%

Ro-Ro units

221,696

207,042

7.1%

Lo-Lo TEU

163,005

146,223

11.5%

Passengers

284,418

277,269

2.6%

Tourist vehicles

81,250

76,453

6.3%

Trade vehicles

31,861

32,917

-3.2%

The largest parts of Dublin Port’s business are Ro-Ro freight trailers and Lo-Lo containers.  Ro-Ro grew by 7.1% with 221,696 units in the first three months. Lo-Lo containers grew by 11.5% to 163,005 TEU reflecting growth in the domestic economy drawing imported goods from overseas markets. 

The Port’s tourism business also performed very strongly with ferry operators including Irish Ferries, Stena Line and P&O increasing passenger volumes by 2.6% and tourist vehicle numbers by 6.3%.

Elsewhere in the Port’s tourism business, the cruise business started as early as January with three calls in the first quarter as a whole.

Eamonn O’Reilly, Chief Executive, Dublin Port Company, said: “Having seen growth of 17.3% in the three years to last December, 2016 has started strongly with growth of 6.8% in the first quarter. Were growth to continue at these rates, Dublin Port’s throughput would double by 2026.

“We have commenced work on the €230m ABR Project which will expand capacity in Dublin Port and will be largely completed in four years.  In light of the continuing high level of growth, we will also this year begin to plan other major Masterplan projects which will be required if we are to have the capacity available in time to meet the expected high levels of future growth.”

Dublin Port has the financial resources for this major infrastructure development programme having seen turnover grow by 7.8% to €77.7m last year and EBITDA grow by 14.0% to €49.3m. The Port has announced that it will pay a dividend of €10.9m, bringing the total dividend payment since 2007 to €89.5m.

Eamonn O’Reilly, Chief Executive, Dublin Port Company, said: “Alongside our large planned expenditure on capital projects, it is important that we continue to pay a dividend to the State and I am delighted that we are in a position this year to pay a €10.9m dividend, equivalent to 30% of last year’s profits.”

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