Again in 2024, the year saw positive developments for the Port of Kalundborg. The number of ship calls increased slightly by 3 % and landed at 345 against 335 in 2023, and despite the fact that the volume of goods decreased by 5 % from 988 thousand tons in 2023 to 938 thousand tons in 2024, the Port of Kalundborg ends 2024 with an annual result of 12.4 million kroner.
Continues positive development despite smaller cargo
For the year 2024, the Port of Kalundborg can present a profit of 12.4 million kroner against 26.9 million kroner in 2023, a decline of 36 %. However, the result is affected by the profit for the sale of tangible fixed assets of 2 million in 2024 and 22.5 million kroner in 2023.
Disregarding these profits, the annual profit for 2024 amounts to DKK 10.4 million compared to DKK 4.4 million in 2023, which is a significant improvement in the Port of Kalundborg's operating activities with a development of 135 %.
Despite a decline of 5 % in the total volume of goods excluding ferry traffic and tugboats, the Port of Kalundborg has generally experienced progress. Over the past 5 years, the Port of Kalundborg has experienced a significant increase in net revenue of 20.3 million kroner, a growth of 55 %. The positive development continues in 2024 with an increase of 9.3 million kroner compared to 2023, corresponding to an increase of 20 %.
Net revenue in 2024 will thus end up at 57.2 million kroner.
"The management is quite satisfied with the positive development. The port is working hard to get more large ships calling at the port and heavier goods over the quay, and the figures show us that we are heading in the right direction, even though it is not going as quickly as we would like," says port director Bent Rasmussen.
Green capital investments will increase the port's activities
In 2024, the Port of Kalundborg has invested in construction projects aimed at making the port more competitive and increasing activities at the quay, and the total capital investments for the year amount to DKK 15.9 million, financed from the port's liquidity resources.
At the end of 2024, the port completed a land project in the East Harbor for ships with long-term stays in the port with the goal of moving more berths to shore power and freeing up berth space for more calls in the port. The port has also begun electrification of its two container cranes in Ny Vesthavn, which is expected to be completed in the first quarter of 2025.
"It is imperative that the port has facilities to address the green transition and can offer a sustainable value chain. This applies to our equipment and operations, where there is expected to be increasing demand for shore-based power in the coming years. It is equally important that the port has the capacity to take part in the market share within green offshore activities such as offshore wind turbines or CCUS," says Bent Rasmussen.
Chairman of the Board of Directors of Kalundborg Port, Jesper Wienmann Hansen, states, "The Board of Directors has now approved the Annual Report and is now sending the accounts to Kalundborg Municipal Council with a recommendation for approval and it is a pleasure to present such strong accounts, with solid cash and cash equivalents and an increase in the solvency ratio and equity."
Kind regards
Jesper Wienmann Hansen / Bent Rasmussen
Chairman of the Board Port Director
