Travel and representation costs for Port of Aalborg Group in 2021

Our annual statement of overall expenses applies to all employees and boards throughout the Port of Aalborg Group comprising the following seven companies: Port of Aalborg Logistics, Port of Aalborg Research & Development, Port of Aalborg Real Estate, Port of Aalborg Rail, Port of Aalborg Tank Storage, Aalborg Stevedore Company, Aalborg Toldoplag.

Increased travel

In 2020, Port of Aalborg launched an ambitious development strategy aimed at doubling its turnover, investing DKK 2 billion, attracting 10-15 large companies and creating 5,000 new jobs in Aalborg, and all by 2030.

The intensified focus on attracting, primarily foreign, new companies to the Port of Aalborg’s business park in Aalborg East should have entailed a marked increase in the cost of travel activity. However, corona has through 2021 continued to affect our mobility, and just as in 2020, travel has been limited both domestically and abroad. Travel expenses in 2021 amounted to DKK 267,285.11, which, on the positive side, is more than in 2020, but still far less than in 2019 before the corona pandemic.

Representation costs halved

The Group’s representation costs have fallen significantly in recent years. The total amount in 2021 hit a low of DKK 236,000.79, approximately DKK 265,000 less than in 2020 and around DKK 550,000 less than in 2019.

This is partly due to the societal shutdown and limitations on physical meetings from 2020, which continued well into 2021. We have, however, gained significant experience around the beneficial hosting of meetings online, consistent with our future plans at Port of Aalborg, which have in recent years focused on reducing precisely our representation costs.

Board remuneration are increased

Naturally, the Group’s costs also include board remuneration, which for the politically elected board members are published on the Aalborg Municipality website annually. The chairman’s remuneration in 2021 was DKK 62,000, which increases to DKK 100,000 in 2022. The increase is due to an amalgamation of the boards of several subsidiaries into a single board for the Group, resulting in the addition of several tasks and responsibilities for the Chairmanship.

Intensified efforts in 2022

2021 has brought significant activity in the Group, and while travel and representation costs have overall been higher than in 2020, when corona shook the whole world, they still have not reached the level of 2019.

Travel and representation costs are expected to continue rising in step with the retreat of the corona virus and Port of Aalborg’s focus on attracting international companies.

For further information, please contact:

Press service: Maja Thordahl Schou, Head of Branding & PR, Port of Aalborg Logistics, tel. +45 9930 1528 / +45 2261 8308 and mts@portofaalborg.com