Tianjin Port announces 2018 results
Tianjin Port Development Holdings Limited has announced its annual results for the year ended 31 December 2018. During the year under review, the Group achieved total cargo throughput of 428.66 million tonnes, a decrease of 0.9% over last year. The consolidated revenue decreased by 4.5% over last year to HK$15,871 million. Gross profit fell by 12.7% to HK$3,181 million, primarily due to the decrease in gross profit from cargo handling business. Profit attributable to shareholdersof the Company decreased by 44.4% over last year toHK$431 million, which was mainly due to anexchange loss arising from the Group’s HKD-denominated liabilities as a result of the depreciation of RMB against HKD in 2018 while an exchange gain was recorded in 2017.
The Group achieved total non-containerised cargo throughput of 255.57 million tonnes, a decrease of 4.8% over last year. Revenue from the non-containerised cargo handling business amounted to HK$4,699million, a decrease of 6.1% over last year and revenue denominated in RMB decreased by 8.1%, mainly due to the decrease in non-containerised cargo throughput.
In terms of total throughput, metal ore handling volume rose by 2.0% to 100.43 million tonnes; coal handling volume fell by 10.4% to 70.92 million tonnes,mainly because of the regulatory requirement of using railway instead of road as the transportation mode for coal; crude oil increased by 8.3% to 23.64 million tonnes; automobiles up by 7.0% to 32.31 million tonnes; steel fell by 33.4% to 12.16 million tonnes, mainly due to the decline in steel throughput of foreign trade as a result of the China-U.S. trade dispute.
The consolidated blended average unit priceof the non-containerised cargo handling business grew by 1.7% to HK$24.0 per tonne. The consolidated blended average unit price denominated in RMB decreased by 0.5% overlast year.
The Group achieved total container throughput of 15.97 million TEUs, representing an increase of 6.2% when compared to last year. Revenue from the container handling business amounted to HK$2,163million, anincrease of 8.7% overlast year and revenue denominated in RMB increased by 6.3%, mainly driven by the increase in container throughput.
The consolidated blended average unit price of the container handling business increasedby 2.2% to HK$281.0 per TEU. The consolidated blended average unit price denominated in RMBwas on par with last year.
The Group’s sales business mainly engaged inthe supply of fuel to the inbound vessels, sales of supplies and other materials. During the year under review, the revenue from the sales business was HK$6,466million, a decrease of 5.6% overlast year. Revenue denominated in RMB dropped by 7.6%, mainly due to the decrease insales volume.