Transferring ship services to subsidiary decreased turnover, but productivity improved
The company’s turnover was EUR 95.6 million (EUR -1.1 million) Separating ship service operations into their own company is the most notable factor in the decrease. Performance corresponded to cargo and passenger traffic numbers.
Key figures
| Million euro | 2019 | 2018 | 2017 |
|---|---|---|---|
| Turnover, Meur | 95.6 | 96.6 | 95 |
| Investmets, Meur | 11.7 | 15.2 | 36.4 |
| Grand total of the balance sheet, Meur | 504.0 | 522.8 | 541.2 |
| Change in the turnover, % | -1.1 | 1.7 | 5.9 |
| Turnover/ person-years, 1000 euro | 1050 | 640 | 601 |
| Return on investment, % | 3.9 | * 4.4 | * 4.0 |
| Equity ratio, % | 66.6 | 63.6 | 60.5 |
* Return on investment adjusted with one-off instalments
Turnover decreased by 1.1% compared to previous year. One factor that had a major impact on this development was the transfer of ship service operations to a subsidiary company, which came into effect early in the year. The general financial trend, docking of several vessels and decreasing coal transport also affected the turnover.
The most significant revenue items were cargo charges (MEUR 32), vessel charges (MEUR 21) and passenger charges (MEUR 24).
- The profit was EUR 19.1 million.
- Profit before appropriation and taxes was EUR 10.2 million.
- After taxes, the profit for the financial year was EUR 8.2 million.
The operating costs, EUR 33 million, were 1% lower than in the previous year. Separating the port services into their own company and a business deal with the City of Helsinki’s Department of Financial Management Services Talpa increased the acquisition of external services, but also decreased the HR costs.
The Port of Helsinki distributes half of its profits for the financial period as dividends to its owner, the City of Helsinki, i.e. approximately EUR 4.1 million in total.
The result for the year was encumbered by non-recurring items totalling around EUR 2.0 million.
Improved productivity
The productivity index depicting the development of the Port of Helsinki’s total productivity increased to 118.0 points (+0.7%) despite the small decrease in turnover.
Investments
In 2019, the total amount of investments was EUR 11.7 million The new LHD cruise ship berth of Hernesaari (with a total investment value of EUR 11 million) and the side ramp of Katajanokka (with total investment value of EUR 1.2 million) were completed in 2019. In addition to these, projects such as quay improvements for the Estonia routes in Vuosaari were implemented.