Investment-heavy challenges dampen results

Over the past year, the Port has invested extensively in IT, infrastructure and security, paving the way for a more efficient and secure operation. However, the investments, combined with a modest recovery in volumes, mean that the results for 2024 have fallen short of expectations.

For the year up to August, the Port reports a result before appropriations of 19 million SEK, which is lower than budgeted. The negative trend is mainly due to cost increases linked to low container and truck volumes, higher depreciation, and external factors impacting cargo flows.

Strategic investments setting the standard

During 2023, the Port made significant investments in terminal infrastructure, spearheaded by extensive dredging and implementing a new Terminal Operating System (TOS) to optimise the Port’s capacity and operational efficiency. While these projects have had a short-term negative impact on the financial results, they lay the foundation for future growth. The investments also include enhanced security measures, strengthening the Port’s safe and reliable regional operator position. In the spring, the Container and Energy terminal at the West Harbour became a designated civil protection site, a so-called Vital Installation, in addition to the ISPS Code.

“We believe that the measures we’ve implemented to strengthen our operations and optimise our resources will fully take effect in 2025 and 2026,” says Bart Steijaert, CEO of the Port of Helsingborg.

Volumes and future outlook

During the first and second tertials of 2024, the Port of Helsingborg showed a cautious recovery in container volumes, with a six percent increase compared to the previous period. Although volumes have not yet reached the levels of 2022, the positive development signals that the market is recovering. This improvement happens while the Port makes substantial investments in its infrastructure to ensure a competitive operation in the future.

“Our strategic investments are bearing fruit, and we are well-prepared to face future challenges,” says Bart Steijaert, adding: “But continued hard work and careful cost control are required for our financial results to match the upward trend in volumes.”

Volumes up to and including August