The Port of Rotterdam Authority said first half profit was unchanged from a year ago. Lower ship dues were offset by higher rental revenue.
Net income dipped to 118 million euros ($ 154.6 million) from 119 million euros ($155.9 million) in the first six months of 2012 as revenue grew to 316 million euros ($414 million) from 308 million euros ($403.5 million).
The operator of Europe’s biggest port earned 204 million euros ($267 million) before interest, tax, depreciation and amortization, up from 196 million euros ($256.8 million) a year ago.
The port authority’s investments are set to decline sharply as the construction of Maasvlakte 11, an 8.5 million-TEU-a-year container hub, nears completion.
Total spending is expected to fall to approximately 268 million euros ($351 million) in 2013 from 626 million euros ($820 million) in 2012, but the agency stressed its goal “to continue to invest vigorously in the port area.”
The construction of Maasvlakte 11, Europe’s biggest container project, is expected to come 150 million euros ($196.5 million) under budget at 1.55 billion euros ($2 billion).
As a result, the authority is increasing the dividend to its shareholders — the city of Rotterdam and the Dutch government — by 18.8 million euros ($24.6 million), and will repay the state’s 290 million euros ($380 million) contribution to Maasvlakte 11 construction costs this year.