Rotterdam World Gateway (RWG), a major transhipment hub at Rotterdam’s Maasvlakte 2, saw its net profit cut in half in 2023, dropping to €8.4 million. This decline comes despite the company’s turnover remaining steady at €230 million, similar to its financial performance in 2022.

The sharp reduction in profit is primarily attributed to increased costs at the terminal. Wage expenses rose by €4 million, reaching nearly €41 million, while other costs jumped by €3.4 million to €88.9 million. However, the annual report lacks further details or a management explanation for these higher expenses, as it does not include a management report.

RWG’s operating result (EBIT) fell to just over €50 million, down from almost €58 million in 2022. The company’s pre-tax profit was €11.3 million, impacted by a substantial financing burden of €39.6 million, slightly higher than the €38 million recorded the previous year. This high financing burden is linked to RWG’s significant debt, which increased to €453 million in 2023, up from €353 million in 2022. Additionally, the company faces lease obligations totaling €546 million, compared to €432 million the previous year.

RWG employed 228 people in 2023, up from 216 in the previous fiscal year.

Source: Nieuwsblad Transport

Rotterdam World Gateway (RWG), a major transhipment hub at Rotterdam’s Maasvlakte 2, saw its net profit cut in half in 2023, dropping to €8.4 million. This decline comes despite the company’s turnover remaining steady at €230 million, similar to its financial performance in 2022.

The sharp reduction in profit is primarily attributed to increased costs at the terminal. Wage expenses rose by €4 million, reaching nearly €41 million, while other costs jumped by €3.4 million to €88.9 million. However, the annual report lacks further details or a management explanation for these higher expenses, as it does not include a management report.

RWG’s operating result (EBIT) fell to just over €50 million, down from almost €58 million in 2022. The company’s pre-tax profit was €11.3 million, impacted by a substantial financing burden of €39.6 million, slightly higher than the €38 million recorded the previous year. This high financing burden is linked to RWG’s significant debt, which increased to €453 million in 2023, up from €353 million in 2022. Additionally, the company faces lease obligations totaling €546 million, compared to €432 million the previous year.

RWG employed 228 people in 2023, up from 216 in the previous fiscal year.

Source: Nieuwsblad Transport