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FutureStarrApm Terminal Los Angeles
As the world’s largest port, Los Angeles is a place to find goods coming in and out of the country. The city is also the second largest hub for air transportation.
APM Terminals reported revenue of US$4.1 billion for 2017 on consolidated basis, on a par with 2016, however with underlying volume growth on an equity-weighted basis of 6.5%. Portfolio container volume amounted to 39.7 million TEUs (37.3 million TEUs) on an equity-weighted basis, 6.5% higher than in 2016, following strong volumes in north Asia, Latin America and across several locations due to strong growth from Maersk Line. APM Terminals’ equity-weighted volume growth was slightly higher than the estimated global port throughput growth in 2017 of 6%. Adjusted for newly commenced entities and divested terminals, volume increased by 5%. Invested capital increased to US$8.1 billion ($8 billion) mainly due to capital investment in projects under implementation, partially offset by impairment and capital discipline.
Financial Performance Operating business reported a loss of $146 million (profit of $487 million), negatively impacted by impairments in challenging markets, while projects under implementation realised a loss of $23 million (loss of $49 million) stemming from start-up costs. The share of profit/loss in joint ventures and associated companies was a loss of $52 million (profit of $193 million). Excluding the impact of impairments, the result from joint ventures and associated companies was a profit of $212 million, $19 million higher than in 2016. Tax decreased to $53 million ($149 million), mainly due to prior-year adjustments, the rate of exchange impact on deferred tax and a reduced tax rate in the USA following changes in legislation. Cash flow from operating activities was $827 million ($819 million). Cash flow used for capital expenditure was $672 million ($1.5 billion), of which $490 million related to terminal implementation projects. The capital expenditure in 2016 was mainly due to the acquisition of the Spanish Grup Marítim TCB's port and rail interests. APM Terminals generated a positive free cash flow of $155 million (negative $730 million). Invested capital increased to $8.1 billion ($8.0 billion), mainly due to capital investment in projects under implementation, partially offset by impairment and capital discipline. (Source: en.wikipedia.org)
Three new terminals commenced operation in 2017 (Lázaro Cárdenas, Mexico, Izmir, Turkey and Quetzal, Guatemala), while APM Terminals divested one inland service, Pentalver, UK, as well as two terminals, Zeebrugge, Belgium, and Dalian, China. Moreover, APM Terminals Tacoma, USA, ended operations in September. APM Terminals Lázaro Cárdenas, Mexico, Latin America's largest semi-automated terminal, commenced operations in April. The terminal has the capacity to receive the world's largest ships. With the first phase of the terminal complete, APM Terminals Lázaro Cárdenas occupies an area of 49 hectares, with a 750-metre-long quay and an annual capacity of 1.2m TEU. As part of APM Terminals’ strategy implementation and portfolio optimisation, APM Terminals completed in 2017 the divestment of its 100% stake in Pentalver, the UK-based provider of container transport and other container-related services, its 51% stake in Zeebrugge, Belgium, with 1.3m TEU annual capacity and its 20% stake in Dalian, China, with 2.3m TEU annual capacity. APM Terminals Tacoma, USA, ended operations at the end of September as part of its portfolio optimisation plans, and transferred its concession to SSA Marine. APM Terminals’ portfolio of inland services has been growing its presence with six new locations, including the opening of a container depot in Sullana, Peru. Sullana is one of the largest areas for grapes production as well as for growing organic bananas and mangos.
APM Terminals Pier 400 Los Angeles won two awards at the 66th Annual Pacific Maritime Association (PMA) Area Accident Prevention Committee Safety Awards for 2014. The first award was the PMA Coast Accident Prevention Awards ceremony in the category of Terminal Operations, Group A, (over one million man-hours worked) for the best Safety Performance achieved in 2014 in all operations at US West Coast ports. This is the sixth year out of the last eight that APM Terminals’ Los Angeles facility has received this award. APM Terminals Pier 400 also won the Southern California Area Container Terminal Safety Award for Group A category terminals. (Source: en.wikipedia.org)