Annual Report Posts Record Performance
Gladstone Ports Corporation (GPC) has released its 2018-19 Annual Report, showcasing record throughput tonnages, strong revenue and solid profitability, exceeding their forecasted dividend.
GPC’s three ports, Bundaberg, Gladstone and Rockhampton handled a record 124.8 million tonne (Mt) of cargo, 4.6 million tonnes higher than the 2017-18 financial year with the Port of Gladstone surpassing Hay Point as Queensland’s largest port with an impressive 124.02Mt.
GPC Acting CEO Craig Walker said GPC were proud to post a dividend of $73.8 million which was great news in terms of jobs, economic growth and international trade for Queensland.
“We are very pleased that Queenslanders will benefit from yet another strong dividend, which helps pay for much-needed infrastructure and frontline services across the State,” Mr Walker said.
“Our three precincts not only handled a record 124.8 Mt of trade, we saw a 3.8 per cent increase on last financial year and an increase in vessel movements, from 1,911 to 1,940.
“Total revenue for the year was $476.1 million and earnings before interest and tax were $126 million.
“The Port of Bundaberg recorded a total throughput of 548.2 kilotonne (kt) during 2018-19.
“Sugar and gypsum showed significant growth and contributed to 424.1kt of the total trade throughput, while molasses exports showed an incredible 127 per cent increase in trade since the 2017-18 financial year.
“The Port of Rockhampton recorded 222.2kt of product during 2018-19, with ammonium nitrate remaining the strongest commodity with a total of 167.9kt imported and exported.
“In addition to trade growth and strong financial performance, we continued to invest heavily in our local communities supporting 26 initiatives, at a value of approximately $290,000.
“We will continue to focus on diversifying trade opportunities at the three port precincts to help stimulate job opportunities in our Region and trade growth,” Mr Walker said.
Record levels of coal, LNG and a doubling of container trade represent the hallmarks of GPC’s recent success.
As Australia’s premiere multi-commodity port, GPC remains focussed on the important priorities of growing jobs, trade and our regions prosperity into the future.