In a year of 2021 that both nationally and internationally again was influenced by the corona pandemic, Port of Aalborg’s business model showed its strength and sturdiness. In the financial year, the company has increased top line figures to DKK 239 million, corresponding to a growth of as much as seven percent with a bottom line of DKK 61.5 million before tax. Equity has grown from DKK 750 million to DKK 802 million. At the same time, Port of Aalborg has delivered a result of ordinary operations of DKK 80.5 million, which is the highest level to this date.
– The result of the year is considered extremely satisfactory and beyond expectations. We have only to a very little extent been negatively affected by the pandemic and generally experienced a positive development across all our business areas. It shows that we have learned a lot from the pandemic, which in many ways has changed our way of working. It also shows that we have an extremely strong foundation, which bodes well in terms of realizing our ambitious development strategy as well as goals of creating value for Aalborg Municipality in the form of growth, green transition, and job creation, says Lasse Frimand Jensen, who joined Port of Aalborg A/S this year as the new Chairman of the Board.
The positive development should be seen in the light of the fact that Port of Aalborg has invested significantly in the group’s business park, which is the foundation for the port’s largest area of activity, namely commercial real estate.
– We have a very low vacancy rate on our rental properties both within warehouses and offices, which together with the ongoing area rental demonstrate the great interest in establishing and operating in Aalborg. Therefore, we are also constantly expanding our facilities. In 2021, we have, among other things, initiated a major expansion of our transport center, which involves the construction of up to 90,000 square meters of warehouse capacity as well as the construction of new terminal areas within the next three years, says Claus Holstein, CEO of Port of Aalborg.
Other investments in 2021 include the construction of a 100 meters long quay extension, while the general construction activity is also well underway with several new warehouse and office square meters being under construction.
Furthermore, Port of Aalborg has continued its investments in digitization, where, among other things, work is being done on the development of a complete digitization of the port’s work processes and physical facilities – a so-called digital twin.
Fewer but larger ships and high activity on the railway
Looking at the logistics sector, the trend for Port of Aalborg to receive fewer but larger ships has continued throughout 2021. The number of vessel calls ended at 900 compared to 964 the year before. On the other hand, a significant increase in gross tonnage (the volume of ships) was seen with over 5 million tons in 2021 compared to approximately 4.4 million tons in 2020.
– The total volume of goods over the quay has decreased by approximately 225,000 tons compared to the previous year. However, the decrease is solely based on import volumes. The volume of shipped cargo continues to increase and have grown by more than 37 percent since 2018. In relation to the different types of goods, the most significant change is that products for agriculture and especially construction were fewer in 2021, says Claus Holstein.
The decreasing freight volumes in ship traffic are compensated by constantly increasing freight volumes via the railway, which is a mode of transport that Port of Aalborg has invested significantly in for several years.
– For a number of years, we have invested heavily in our railway setup, which holds a large and not least green potential. In 2021, this resulted in the opening of a new terminal as well as the expansion of existing facilities, which has been crucial to support the positive development and potential of rail transport. Last year, we have transported more than twice as much freight by rail as the year before, while the number of freight wagons has grown by 77 percent, says Claus Holstein.
The positive trend is expected to continue for several years and follow the general development within freight transport with short sea shipping and rail being designated as special focus areas by the EU.
Port of Aalborg will attract companies through green transition and CSR investments
In the current financial year, Port of Aalborg will continue its focus on realizing the group’s development strategy, which includes investments of up to DKK 2 billion and the target of attracting 10-15 large companies while creating 5,000 jobs in Aalborg Municipality by 2030.
In addition to the ongoing expansion of facilities and infrastructure, Port of Aalborg will continue investment in both green transition and CSR.
– The ability to deliver on the green transition both internally and externally is only becoming a more crucial competitive parameter, which is also why we are launching a brand-new sustainability strategy this month. Additionally, we soon launch our new concept called Gate to Green, with which we aim to redefine today’s business parks based on a sustainability and SDG focused mindset, explains Lasse Frimand Jensen, and continues:
– Furthermore, we will continue to engage in CSR projects such as Cool East, Q-North and Aalborg Waterfront, which all contribute to supporting the good life in Aalborg. We believe that a good and vibrant city life is crucial for both retaining and attracting employees and thus companies to Aalborg. This also applies to companies from abroad, which we are very interested in attracting, for example via the newly established platform Forefront Aalborg that aims to strengthen Aalborg’s presence within four focus segments while also showcasing the companies and activities that take place in Greater Aalborg within these focus segments.
As a result of the current uncertainty and concern in the world with war in Europe, rising interest rates and inflation as well as pressure on supply chains, Port of Aalborg expects a result for 2022 of DKK 50 million before tax.
For further information, please contact:
- Lasse Frimand Jensen, bestyrelsesformand, Port of Aalborg, tel. 31 99 06 49 and lfj-byraad@aalborg.dk
- Presseservice: Maja Thordahl Schou, Head of Branding & PR, Port of Aalborg A/S, tel. 22 61 83 08 and mts@portofaalborg.com
