Tianjin Port Development announces 2022 results
Tianjin Port Development Holdings Limited has announced its annual results for the year ended 31 December 2022.
Total cargo throughput handled by the Group in 2022 was 443 million tonnes, an increase of 0.2% over 2021. Revenue decreased by 25.1% over last year to HK$13,017 million. Total container throughput was 19.83 million TEUs, representing a decrease of 1.8% over 2021.
Total non-containerised cargo throughput was 241.03 million tonnes, representing an increase of 1.0% over 2021. Profit attributable to shareholders amounted to HK$345 million, representing a decrease of 62.6% year-on-year.
According to the World Economic Outlook Update released by the International Monetary Fund (IMF) in January 2023, the global economic growth rate is expected to drop from 3.4% in 2022 to 2.9% in 2023, before rebounding to 3.1% in 2024.
Tianjin Port Development Holdings Limited together with its subsidiaries is first operated as a non-containerised cargo terminal at the port of Tianjin in 1968 and subsequently expanded into the container handling business in 1980. In February 2010, the Group completed the acquisition of 56.81% equity interest in Tianjin Port Holdings Co., Ltd. Today, the Group is the leading port operator at the port of Tianjin and is principally engaged in container and non-containerised cargo handling businesses, sales business and other port ancillary services business. In 2022 the port of Tianjin ranked the eighth largest port in China in terms of total cargo throughput and the sixth in terms of total container throughput.
