Large cargo volume, a modern business park where companies thrive, and great success in servicing the green transition – especially the wind industry. These are the key reasons why Port of Aalborg significantly boosted its top and bottom lines in 2024.
2024 was a year marked by activity and development at Port of Aalborg, which reached a revenue of DKK 285 million – a new record for the port.
Compared to the previous financial year, Port of Aalborg increased revenue by approximately 22%, while the primary operating profit grew by an impressive 76% to DKK 80 million. The total annual result hits DKK 54.4 million, marking an increase of about 73% from 2023. This result has been met with enthusiasm by the management of Port of Aalborg.
– This is a historical financial statement for Port of Aalborg and a significant endorsement of our long-term development, which has gained further momentum in recent years. Today, we are both a modern logistics hub and a business park with strong positions, particularly within the wind industry, says Chairman of the Board at Port of Aalborg A/S, Bjarne Jensen.
Cargo turnover reached 2.5 million tons, a significant increase compared to the 2.1 million tons handled by Port of Aalborg in 2023. At the same time, the occupancy rate in the business park increased, and the financial accounts were also positively impacted by one-off revenues, including land sales to businesses.
– In 2022, we launched a new strategy with an enhanced focus on the North Jutland business community and the green transition, and we are now beginning to see the results. The positive financial accounts reflect the fact that we have strong logistics solutions, recently strengthened by the establishment of a competitive container terminal following Royal Arctic Line’s departure from Aalborg, says CEO Kristian Thulesen Dahl, adding:
– We are also succeeding in servicing and creating good conditions for businesses in and around our business park. As a result, we are an attractive location for companies looking to scale their business, whether it is existing businesses in the area or companies searching for new office and warehouse facilities or land for development.
Strong Collaboration and Green Transition
Port of Aalborg currently owns 4.9 million square metres of land with quay facilities and infrastructure as well as more than 210,000 square metres of office and warehouse space for lease. The vast majority of these are concentrated around the port area in Aalborg East.
– We are one of North Jutland’s fastest-growing business areas with many companies collaborating across industries and generally supporting each other – for instance, by sharing resources. Our role is to service their needs in the best possible way, and fortunately, we see that businesses are thriving and growing, says Kristian Thulesen Dahl.
In particular, increased orders and large projects from companies working with the green transition have kept Port of Aalborg busy.
– Our collaboration with the wind industry is growing substantially, and this is evident in our financial accounts. This includes handling break-bulk cargo for companies at the port that supply components to some of the world’s largest offshore wind farms. It also extends to our ability to offer land and facilities for storage and production. In 2024, for example, we worked hard on a 400,000 square metre large blade storage facility for Siemens Gamesa, which was recently put into operation, explains Kristian Thulesen Dahl.
“We Must Not Stand Still”
2024 also saw major investments. Port of Aalborg acquired more than 260,000 square metres of land for development. Additionally, the port has converted most of its machinery fleet to electric operation and commissioned a new nearly 500-tonnes electric mobile crane, which will be used to load and unload wind industry components.
– We must not stand still if we are to continue providing the best conditions for businesses in the future. At the same time, ports are set to play a crucial role as a critical infrastructure for the green transition. With the large wind projects, we see at our port these years, we are getting a glimpse of what is required in the future. To succeed, massive investments are needed and ports must not be subjected to unfair competition, says Kristian Thulesen Dahl.
He refers in particular to the conclusions from the government’s port partnership, which in 2024 released a report with recommendations for the development of Danish ports.
He also points out that in 2025, Port of Aalborg will begin a quay expansion project to further strengthen business opportunities. Additionally, Port of Aalborg is working closely with Aalborg Municipality to be designated as one of the five new industrial parks that the government, along with a broad majority in the Danish Parliament, plans to establish later this year.
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