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04 July 2020 The on-line newspaper devoted to the world of transports 20:54 GMT+2



June 10, 2020

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Original news
In the first quarter, Global Ports Holding's revenues were increased by 18%

The impact of the pandemic has only marginally affected the Period. Port Segment Operating Cost Cuts

In the first quarter of this year, the Turkish group Global Investment Holdings (GIH) reported revenues of 323.5 million Turkish lira (42 million euros), an increase of 24% on first three months of 2019. In the port sector alone, where the group global Ports Holding (GPH), are revenues of 130.5 million Turkish lira (up 18%). Group EBITDA was 85.1 million Turkish lira 62.9 million from port operations (-6%). The group's operating result was a sign -39.4 million Turkish lira compared to a negative operating profit of -17.0 million in the first quarter last year. GIH closed the first quarter of 2020 with a net loss of -131.0 million Turkish lira compared to a net loss of -82.4 million in the same period of 2019.

In the first three months of this year, period that -- confirmed the chairman and CEO of GIH, Mehmet Kutman - is been only marginally affected by the impact of the pandemic of Covid-19, the traffic of cruisers moved by the terminals GPH (excluding traffic related to GPH quotas) group in cruise activities in Venice, Lisbon, Singapore and La Goulette) was 1.25 million passengers, with an increase of 146% mainly driven contribution of new activities in the Caribbean through acquisition of cruise operations in Nassau and Antigua, with stakes in these activities by the group 30.6% and 62.5% respectively, which were carried out over the past year ( 1st 25 February 2019). In the goods sector, in the first three months of 2020 The group's port terminals handled traffic 43,000 teu (-18%) and other load volumes 286,000 tonnes (up 46%).

The president and CEO of the GIH also confirmed that The impact of the pandemic has also hit group's activities and, in particular, port activities, with cruise activities that have practically been zeroed out. Kutman announced that the group has taken steps to contain costs of the port division that would reduce by 75% operating expenses from May to December 2020, due to a decrease in 60% in the full year.

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