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07 August 2022 The on-line newspaper devoted to the world of transports 21:37 GMT+2

July 28, 2022

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Global Ports Holding records an improvement in financial performance, but this remains in negative territory

A more decisive relaunch is expected in these months

In fiscal year 2021, which ended on March 31, Global Ports Holding (GPH) of the Turkish group Global Investment Holdings (GIH), which is the world's leading terminal company in the cruise sector, recorded revenues of 128.4 million dollars, with a recovery of +61.7% compared to 79.4 million dollars in the previous fiscal year when the business had been particularly affected by the effects of the Covid-19. To make an approximate comparison, in the year financial 2019, which ended on December 31, 2019, revenues amounted to 117.9 million.

In fiscal year 2021 the company scored a negative operating result of -29.7 million dollars, compared to a negative result of -72.3 million in the previous fiscal year, and a net loss of -44.5 million dollars compared to a net loss of -94.7 million in fiscal year 2020.

In the first half of fiscal year 2021, passengers in GPH's port terminals was about 563 thousand people, volume of activity that in the second half of the year of the year rose to about 1.8 million people. With a total of 2.41 million passengers handled, in fiscal year 2021, traffic increased by +81% compared to 1.33 million passengers in the fiscal year previous. In the last fiscal year the largest volume of traffic is was handled in the port of Nassau with 1.29 million passengers total (0.84 million in fiscal year 2020), followed by the volume of traffic of 0.53 million passengers handled in ports Spanish Barcelona and Malaga (0.14 million), from the volume of traffic of 0.24 million passengers in Antigua and Barbuda (0.26 million) and the 0.17 million passengers in the Maltese port of La Valletta (0.07 million).

Global Ports Holding believes that the outlook for the sector of cruises continue to be positive with an increase in traffic volume of the sector that is expected to increase by +45% by 2027 compared to 2019 levels, over the course of of which about 75 will enter the world fleet new cruise ships. The company recalled that, to cope with this expected growth of the activity, since the beginning of the Pandemic crisis GPH has added seven cruise ports to its portfolio which is now made up of cruise terminals in 22 ports with a maximum annual traffic capacity of ten millions of passengers, to which three more will soon be added ports in the Canary Islands ( of 26 July 2022).

With regard to the current tax year only, which will end next March 31, GPH believes that the number of calls of ships from cruise to their terminals will exceed the registered one in the pre-pandemic annual exercise of the calendar year 2019, growth which should be generated essentially in cruise ports Turks, while traffic in the terminals of the Caribbean region and of that of the central and eastern Mediterranean should remain substantially in line with 2019. Overall, GPH believes that in the 2022 financial year the capacity of its terminals will be exploited at 70-75%, with an expected traffic of over seven million of passengers, below the 9.2 million passengers in 2019.

ADSP Tirreno Centrale
PSA Genova Pra
Vincenzo Miele

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