Bruce Barnard, Special Correspondent | Feb 27, 2012 9:10AM EST
APM Terminals profit declined 18 percent in 2011 to $649 million from $793 million a year ago, but the container terminal operator expects gains in market share will improve results in 2012.
The A.P. Moller-Maersk unit’s revenue rose to $4.7 billion from $4.25 billion, as container volume at its 55 terminals increased 7 percent to 33.5 million 20-foot equivalent units. Traffic in North Africa and the Middle East was affected by the unrest during the Arab Spring, but this was more that outweighed by strong growth in terminals along the Asia-Europe trade lanes on the back of market gains by sister company Maersk Line.
APM’s traffic rose 8 percent on a year-over-year basis in the fourth quarter, exceeding estimated global market growth of 5 percent. Non-Maersk Line business rose 11 percent year-over-year, contributing 46 percent of total volume.
APM said it is focusing its investments on growth markets in developing economies, which contributed 76 percent of its $1.06 billion earnings before interest, tax, depreciation and amortization in 2011.
-- Contact Bruce Barnard at brucebarnard47@hotmail.com.
