COPENHAGEN MALMÖ PORT ANNUAL REPORT 2016 Svanemøllehavnen Færgehavn Fiskerihavn Kalkbrænderihavnen Nor d Orientbassinet Nordbassinet Kronløbsbassinet Frihavnen Copenhagen Nordhavnen Sdr. Frihavn Langelinie Yderhavnen Oceankaj Ndr. Toldbod Trekroner Inderhavnen Refshaleøen Containers Oljehamnen www.malmoindustrialpark.com RoRo Øresund Cars/PDI Norra Hamnen Combi Liquid bulk Prøvestenen Östra Hamnen Dry bulk Industrihamnsrännan Passengers Prøvestenshavnen Centralhamnsrännan Break bulk Frihamnen Mellersta Hamnen Veterinarian Customs Frihamnen Inre Hamnen Malmö Modified distance between port sections. The actual distance between Copenhagen and Malmö is approx. 14 nautical miles or 26 km. Not for navigational purpose. Svanemøllehavnen Færgehavn Fiskerihavn Kalkbrænderihavnen Nor d Orientbassinet Nordbassinet Kronløbsbassinet Frihavnen Copenhagen Nordhavnen Sdr. Frihavn Langelinie Yderhavnen Oceankaj Ndr. Toldbod Trekroner Inderhavnen Refshaleøen Containers Oljehamnen www.malmoindustrialpark.com RoRo Øresund Cars/PDI Norra Hamnen Combi Liquid bulk Prøvestenen Östra Hamnen Dry bulk Industrihamnsrännan Passengers Prøvestenshavnen Centralhamnsrännan Break bulk Frihamnen Mellersta Hamnen Veterinarian Customs Frihamnen Inre Hamnen Malmö Modified distance between port sections. The actual distance between Copenhagen and Malmö is approx. 14 nautical miles or 26 km. Not for navigational purpose. 2016 IN BRIEF Works starts on the new cruise quay in Visby. The quay will be completed in spring 2018. The Chinese company BYD supplies further Customer reception is electric buses for the First arrival from SCA improved through new Swedish market. The Logistics, which has procedures which buses are unloaded at made CMP a hub in its expand the taxi service CMP’s vehicle terminal. transport network. for cruise passengers in Copenhagen. JANUARY FEBRUARY MARCH APRIL MAY JUNE CMP wins an 25 June 2016 is award for "Best The South Korean car Increasing interest in the daily the busiest day ever Turnaround Port manufacturer, Ssang-Yong, freight shuttle that CMP and for cruises in the Operations" at the commences collaboration with Green Cargo have established history of CMP. Seatrade Cruise CMP. About 1,000 cars are together. Global trade fair handled at CMP in 2016. in the USA. Decision to invest in a new container terminal in Nordhavn, Copenhagen. The subsidiary, CMP Norra Hamnen AB, is set up with responsibility for RoRo, Combi and Container operations in CMP increases its CMP holds seminars Malmö. MV Greenland - the first turnover in 2016 together with Region dry bulk ship to be by 6.6% to SEK Gotland during CMP focuses on return powered by liquefied 812.1 million and ”politicians’ week” in loads together with natural gas – visits CMP. freight volumes Almedalen. GreenCargo in order to by 5.5% to 15.7 optimise loading capacity million tonnes. at the car terminal. JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER The Oiltanking The effective new company expands its CMP starts to issue VGM logistics system, PIC TOS, operations at CMP is introduced in CMP’s (Verified Gross Mass) certificates through establish- for container customers in container operation in ment at the former Copenhagen. Copenhagen. Shell terminal on Prøvestenen. CONTENT CEO Statement ................................................................................................. 4 Management .................................................................................................... 29 Business concept ............................................................................................. 6 Board ...................................................................................................................... 30 Vision ........................................................................................................................ 7 Corporate Governance Report .......................................................... 32 Services ................................................................................................................... 8 Directors’ report ........................................................................................... 35 Key figures ............................................................................................................ 9 Consolidated Income Statement .............................................. 41 Market overview ........................................................................................... 10 Consolidated Balance Sheet ........................................................ 42 Business area Cruise & Ferries .......................................................... 12 The Group's Changes In Consolidated Equity ............... 44 Business area Port & Terminal Operations ............................... 14 The Group's Cash Flow Statement .......................................... 45 Business area Liquid, Dry Bulk & Property ............................. 16 The Parent Company's Income Statement ........................ 46 CMP Norra Hamnen AB ......................................................................... 18 The Parent Company's Balance Sheet .................................. 47 Human Resources ........................................................................................ 22 Changes In The Parent Company's Equity ........................ 49 Environment ..................................................................................................... 22 The Parent Company's Cash Flow Statement ................. 50 Future developments ................................................................................ 26 Additional Disclosures ..................................................................... 51 Corporate Social Responsibility......................................................... 28 Auditor’s Report ........................................................................................... 63 SUMMARY 2016 n Net sales, MSEK 812 (762) n Profit after financial items, MSEK 31 (30) n Net profit, MSEK 6 (39) n Equity (adjusted), MSEK 99 (164) n Balance sheet total, MSEK 1,038 (636) n Net margin, % 4 (4) n Solidity, % 10 (26) n Return on Equity (average), % 24 (10) n Net sales per employee, TSEK 2,154 (2,027) n Number of employees 377 (376) n Return on Operating Capital (average) ROOC, % 19 (20) COPENHAGEN MALMÖ PORT – ANNUAL REPORT 2016 3 CEO STATEMENT: “CONTINUED STRONG DEVELOPMENT FOR CMP” CMP’s focus on increased freight volumes is con- set of results as a further show of strength from the tinuing to produce an excellent return. It is with entire company. pride that I can state that our volumes grew by 5 The business segments that have developed best per cent during 2016, at the same time as turnover are liquid and dry bulk along with car handling. increased by 6.6 per cent. In total almost 16 million Even in 2015 we received numerous new customer tonnes of freight. This means that we are once enquiries within bulk. CMP’s large capacity on again approaching the levels we saw before the fi- both sides of Öresund is a major competitive ad- nancial crisis. We have simultaneously continued vantage, and one which has contributed to many to improve productivity, which is shown by the fact of these enquiries resulting in new business in that sales and freight handled per employee has in- 2016. The growth in our car handling is a reflection creased. of the development in the private car market, To sum up, we have achieved the volume and where sales have increased substantially and in profit targets for the year. However, a change in several cases broken new records. accounting has had a significant effect on, among In parallel with the excellent economic develop- other things, adjusted equity and operating profit. ment, the year has been characterised by a num- Johan Röstin This effect is presented in more detail in the direc- ber of major events and strategic decisions, which CEO until June 2017 tors' report. will contribute to strengthening CMP in the long- The fact that our underlying profit is nevertheless term. Work started in February on the new cruise strong is linked to a number of initiatives that were terminal in Visby, and has proceeded according to We have also instigated new initiatives in Malmö to implemented in recent years. We have increased plan throughout the year. The terminal in Visby will optimise our port and terminal areas. A land ex- the focus on sales throughout the organisation in be opened in spring 2018, enabling CMP to mar- change with Malmö City has given us access to an various ways. More time and resources is now be- ket three attractive cruise destinations. This will attractive new terminal in direct connection with ing put into sales and canvassing, which is making strengthen our offer in this expansive part of the other facilities. The new terminal is about 130,000 a difference. In a situation where more freight is tourist industry. However, we are already increas- square metres and adapted for all types of transport. handled per employee, more frequent follow-ups ing growth in this area during 2017 via the cruise CMP has also advanced its positions in the area of are made of key indicators in the management and operation in Copenhagen. The number of arrivals the environment. New environmental objectives development tool, M/S Progress. Reasons that this is increasing during the season and we will even were adopted during the year. They confirm our is being done include supporting employees in reach an ”all time high” of about