ADP A/S delivers a historic operating result
In 2021, ADP delivers the best operating result ever with record-high growth in terms of revenue and earnings. The historic development is due to remarkably high cargo volumes at the ADP ports, increasing market shares and exceptionally positive leases in Taulov Dry Port. The commercial top performer of the year has been the container business. A record-high 104,284 TEU delivers an increase in tonnage throughput of 32.5% compared to 2020.
The operating profit (EBITDA) reach a historic high level of MDKK 88.4 which is 53% better than the 2020 operating result. The operating profit is exclusive of property value adjustments.
A very satisfactory 2021 result will be presented at the ADP annual general meeting for approval on 30 March 2022.
Profit after tax is a record high MDKK 104 compared to the 2020 result of MDKK 66.6. The profit after tax contains investment property value adjustments. Total income of 2021 is MDKK 190.0 of which MDKK 177.7 is revenue (2020: MDKK 131,3), which is an increase of 35%. The cargo turnover at the ports of Nyborg and Fredericia has been heavily increasing. In total, the 2021 cargo turnover was 7.6 million tonnes (2020: 6.8 million tonnes), a growth of 12.5%.
Strengthened market position increases the need for more capacity
The last years transformation of ADP and the development of Taulov Dry Port has caused a stronger position of the Port of Fredericia, which now results in a record-high cargo turnover. The development has strengthened the core business of the ports with a significant increase in container throughput, increased RO/RO cargo as well as large shiploads containing steel and recycling products, which brings the total cargo turnover to a historic level.
”The development of Taulov Dry Port has been a crucial, strategic venture that is now evident with an increased consolidation of cargo and companies within our area. We have a full lease level of 100,000 m2 warehouse and logistics buildings, increasing market shares within container activities and very high volumes in general within most of our business areas. Our upcoming capacity expansions at Nyborg, Fredericia and Taulov Dry Port will contribute to the continued, positive business development to the benefit of our many customers and partners and to the entire Region of Southern Denmark” says Rune D. Rasmussen, CEO, ADP A/S.
In recent years, the Port of Nyborg has experienced a positive development with increasing cargo volumes, and 2021 is the second year in a row with a high increase in turnover. The turnover in 2021 has increased by 21.5%. Planned improvements of infrastructure at the ports will also strengthen the competitiveness of the Port of Nyborg and ensure the best conditions for the customers to obtain scaled production and increased product flow.
In 2021, the Port of Nyborg had increased volumes of i.a. project loads, iron, and steel products. Steel products had a growth of 84,700 tonnes corresponding to a 125% increase.
Port expansion in Fredericia
The future port expansion in Fredericia is meant to secure the capacity of the Port of Fredericia to meet future demand and thereby increases in volumes of cargo and containers - and will be an important contribution to a greener transport sector.
“The future port expansion in Fredericia is demand-driven and matches the development of society into a greener future where increased volumes of containers and ferry goods will naturally follow the increased market focus on green transport solutions. Being one of Denmark's largest port operators, the port-expansion is an example of lifting our social responsibility to make a greener world. “Our investments are good for society, for our owner municipalities and our local environment and for the development of jobs”, says Rune D. Rasmussen, thanking the employees for extraordinary work and customers, partners, the board of directors and shareholders for good co-operation.
ADP's board of directors is pleased with the result for the year, and Erik Østergaard, chairman of the board, states in relation to the company's result for the year,
“The board is pleased that ADP delivers a historic result with high growth in turnover and a particularly solid operating profit. ADP's strong position and development is the outcome of good business co-operation and political support from our owner municipalities. Many thanks to the shareholders of ADP for co-operating on our strategic development. And many thanks to the entire ADP organisation that delivered extraordinary and dedicated work in 2021 where activities at the port terminals were at a remarkably high level”, says Erik Østergaard, chairman of the board, ADP A/S.
Rune D. Rasmussen
CEO, ADP A/S
Chairman of the board, ADP A/S