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Cruise strength buoys Copenhagen Malmö Port

Cruise & Maritime Voyages Astoria
Cruise and Maritime Voyages’ Astoria was the first vessel to use Visby’s new cruise facility in April 2018 PHOTO: Cruise and Maritime Voyages
Copenhagen Malmö Port (CMP) chalked up a strong year in 2018 as the cruise segment once again broke records.

Profit rose to 46.7m Swedish kronor, up from SEK26.3m in 2017. Turnover increased approximately 8%, to SEK908m from 839m.

Visby cruise quay debut

'The single greatest factor behind the upturn in both turnover and profit is linked to our cruise ship business,' ' CMP CEO Barbara Scheel Agersnap said. In April 2018, CMP inaugurated the new cruise ship quay in Visby. This, in combination with larger vessels and more calls at both Copenhagen and Malmö, led to 953,000 passengers during the season.

Operating income came in at SEK110m, up from SEK78m in 2017, for an operating margin of 12.2% compared to 9.3%.

During the year, CMP handled 15.1m tonnes of freight, slightly down from 2017's 15.5m tonnes.

'2018 was a good, strong year for CMP. Although we can see a decrease in certain volumes, for example in the oil sector, overall all business areas have made progress with increased operating margins,' Scheel Agersnap said.

Taking advantage of opportunities

'We deem this to be the result of the hard work put into ensuring that we focus on the right things: working more efficiently and taking advantage of any business opportunities that arise.'

Accordingly, CMP has consolidated its position as the leading cruise destination in northern Europe. Ro-ro volumes also increased, to 298,000 handled units.

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