APM Terminals generated a positivefree cash flow of US$155M (negative US$730M). The capital expenditure in 2016 was mainly due to the acquisition of the Spanish Grup Marítim TCB's port and rail interests. Cash flow used for capital expenditure was US$672M (US$1.5bn), of which US$490M related to terminal implementationprojects. Cash flow from operating activities was US$827M (US$819M). Tax decreased to US$53M (US$149M), mainly due to prior-year adjustments, the rate of exchange impact on deferred tax and a reduced tax rate in the USA following changes in legislation. Excluding the impact of impairments, the result from joint ventures and associated companies was a profit of US$212M, US$19M higher than in 2016. The share of profit/loss in joint ventures and associated companies was a loss of US$52M (profit of $193M). įinancial PerformanceOperating business reported a loss of US$146M (profit of US$487M), negatively impacted by impairments in challenging markets, while projects under implementation realised a loss of US$23M (loss of US$49M) stemming from start-up costs. Across its portfolio, APM Terminals launched new products for landside customers to further support their logistics requirements. Sullana is one of the largest areas for grapes production as well as for growing organic bananas and mangos. APM Terminals’ portfolio of inland services has been growing its presence with six new locations, including the opening of a container depot in Sullana, Peru. APMTerminals Tacoma, USA, ended operations at the end of September as part of its portfolio optimisation plans, and transferred its concession to SSA Marine. As part of APM Terminals’ strategyimplementation and portfolio optimisation, APM Terminals completed in 2017 the divestment of its 100% stake in Pentalver, the UK-based provider of container transport andother container-related services, its 51% stake in Zeebrugge, Belgium, with 1.3m TEU annual capacity and its 20% stake in Dalian, China, with 2.3m TEU annual capacity. With the first phase of the terminal complete, APM Terminals Lázaro Cárdenas occupies an area of 49 hectares, with a 750-metre-long quay and an annual capacity of 1.2m TEU. The terminal has the capacity to receive the world's largest ships. APM Terminals Lázaro Cárdenas, Mexico, Latin America's largest semi-automated terminal, commenced operations in April. Moreover, APM Terminals Tacoma, USA, ended operations in September. Three new terminals commenced operation in 2017 (Lázaro Cárdenas, Mexico, Izmir, Turkey and Quetzal, Guatemala), while APM Terminals divested one inland service, Pentalver, UK, as well as two terminals, Zeebrugge, Belgium, and Dalian, China.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2023
Categories |