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Editor in chief: Angelo Scorza
07/10/19 10:23

Contship earned 55 million in the first 6 months of 2019

The sale of Gioia Tauro resulted in an increase in margins, although the slump in Cagliari caused a decrease in containers handled in Italy

Also thanks to its withdrawal from the port of Gioia Tauro, Contship Italy Group closed the first half of 2019 with positive financial results amounting to 55.2 million euro, compared to the 16.9 million positive margins recorded in the first half of 2018.

According to the interim report of the German parent company Eurokai, between January and June 2019 Contship Italia’s revenues decreased to 145.2 million euro compared to the 161.8 million of the first half of 2018. This is due especially to the transfer of its 50% participation in Medcenter Container Terminal to MSC. The terminal operator itself explained that results were boosted by the La Spezia container terminal and by the income resulting from the withdrawal from Gioia Tauro, while the Cagliari transhipment terminal – which Contship is about to leave – affected its financial statements. From 2020, without the loss-making activities in the container transhipment terminals, the financial statements of the group headed by Cecilia Ecklemann Battistello will probably ensure positive returns to its shareholders.

From January the 1st to June the 30th 2019, Contship’s marine terminals handled 1,002,584 TEUs without Gioia Tauro, i.e. 3.1% less compared to the 1,034,381 TEUs of the first half of 2018. The decrease was caused by the Cagliari International Container Terminal, which recorded a -52,1%, while the La Spezia Container Terminal increased by 1.8% (668.652 TEUs at the end of June) and the Salerno Container Terminal by 9,3% (190,278 TEUs).

The first half of 2019 was positive also for Sogemar which, in turn, is the parent company of the railway company Oceanogate, of the Milan Rail Hub and of Hannibal. Also in the dry port container transport business figures are definitely growing, also because during the same months of last year performances had been affected by the railway accident in Pioltello, which limited the operations of the Melzo dry port.

In general, in the period in question containers transported by road and by railway by Contship Group’s subsidiaries increased by 11.4%, while the number of trains operated by Oceanogate in the international market witnessed a 12.6% increase.