The Port of Waterford has recently announced its trading activity for 2021 and the 1st half of 2022.
Financial Results 2021
The financial statements for 2021 have recently been laid before the Oireachtas and are now available on the Company website, The Company is reporting operating profits for the financial year of €1.1 million, up from the €0.7 million recorded in 2020. Turnover was €7.7m (2020: €7.2m) and shareholder’s funds ended the year at €34m.
Bulk throughput in 2021 came in at 1.7 million tonnes, an 11% increase on 2020, while containers handled remained broadly in line with 2020.
Activity 1st Half 2022
The business is again showing positive momentum in 2022 with bulk handling ahead of 2021 by over 12% at the half year and laden container throughput up 5% on last year.
Comment
Frank Ronan, Chief Executive, said: ‘The Port performed well in 2021 despite the many challenges we all faced in that year. We have seen further recovery in the 1st half of 2022 in our parking income, continued growth in bulk and container volumes and an overall step up in developmental activity. However, as in other areas of the economy, we too are experiencing significant cost pressures and volatility in some throughputs as we move into the second half of the year. The Company is very well placed to handle a significant level of onshore renewable wind projects in the coming years and well positioned to support the offshore industry as it gears up for major investment later this decade’.
Cruise Tourism
Frank Ronan concluded by welcoming the return of cruise ships visiting Waterford Harbour during this summer. He noted: ‘We are delighted to be working with the local Cruise Co-operative and Dunmore East Fishery Harbour again to deliver business for our region’s tourism and hospitality operators. The return of these visitors is particularly welcome following on from what has been a really difficult time for this sector’.
