Income statement

The Port Authority’s Income Statement is summarised in the following table.

( IN EUROS x 1000 ) FINANCIAL YEAR 2010 FINANCIAL YEAR 2009 FINANCIAL YEAR 2008
Operation income 306,912 297,122 322,968
Operating charges (241,876) (209,218) (235,203)
Operating profit
65,036 87,904 87,765
Financial proceeds 15,959 16,683 19,544
Financial charges (1,189) (1,655) (6,970)
Profit on ordinary activities
79,806 102,932 100,339
Extraordinary income 1,251 2,576 12,204
Extraordinary charges (971) (40,975) (540)
Profit before taxes
80,086 64,533 112,003
Taxes (13) (18) (67)
Profit for the financial year 80,073 64,515 111,936

 

Antwerp Port Authority made a profit of 80.1 million euros in 2010. The main components of this result, which is higher than in 2009, are as follows:

  • While rates remained the same, turnover rose by 2% as a result of the higher level of activity in the port throughout the whole year.
  • The operating costs increased slightly compared with 2009.
  • In 2009, within the operating results the provisions led to a net write-back of 15.7 million euros, mainly due to the decision to completely phase out the provision for major overhauls. In 2010, by contrast, there was a net charge of 9.8 million euros due to additional provisions for environmental risks.
  • There were no significant extraordinary results in 2010. This is in contrast to 2009, when the extraordinary charges amounted to 41 million euros, due mainly to the impact of the protocol signed on 3 February 2009 with the City of Antwerp for transfer of the “Eilandje” area.
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