Independent journal on economy and transport policy
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COMPANIES
Eurokai, more revenues but less profits
Turnover at +14.4% and traffic at +8.3%, but net profit fell by -8.3% due to the lower share of Eurogate
Amburgo
September 30, 2026
In the second quarter of this year, the port terminals of the
German Eurokai handled container traffic equal to
3.87 million TEUs, a volume that represents an increase of +7.8%
on the same quarter of 2025, is the highest of
always for this time of year and is second only to the
An all-time high of 3.89 million TEUs set in the third quarter
of 2014. In the period April-June of 2026,
both in terms of traffic handled by German terminals and in terms of
the total amount of the Italian terminals (post exit from MCT) which
of the traffic handled by the Group's terminals in the other
nations.
In particular, in the second quarter of 2026 in Germany there were
a total of 2.38 million TEUs (+6.7%) were handled,
of which 1.32 million TEUs in the port of Bremerhaven (+6.5%), 597 thousand
TEUs in Hamburg (+0.4%) and 459 thousand TEUs in the port of Hamburg
Wilhelmshaven (+17.3%). In Italy, the total was
477 thousand TEUs, a volume that represents a growth of +1.6% on the
second quarter of 2025 and is the highest since
when the subsidiary Contship Italia left the management
of the Medcenter Container Terminal (MCT) of the port of Gioia Tauro in
following the signing in April 2019 of the agreement to sell to the
Terminal Investment Limited (TiL) of the Mediterranean Shipping Group
Company (MSC) its 50% of MCT
(
of 1
April 2019). In the second quarter of 2026 in the port of La
Spezia, 307 thousand TEUs were handled (-0.3%), in that of
Salerno 112 thousand TEUs (+4.6%) and in the port of Ravenna 58 thousand TEUs
(+7,0%). In the remaining world ports, traffic amounted to
to 1.02 million TEUs (+13.7%), of which 841 thousand TEUs in the port
Moroccan port of Tanger Med (+10.9%), 137 thousand TEUs in the Cypriot port of
Limassol (+1.5%) and 38 thousand TEUs in the Egyptian port of Damietta in
which the activity began last February through
the Damietta Alliance Container Terminal joint venture
by the German group through Eurogate Damietta and Contship Damietta
(
of 13
February 2026).
The total containerized traffic handled in the
first half of 2026 amounted to 7.41 million
TEU, a volume that represents an increase of +8.3% on the first
last year's semester and is lower only than those
totalled in the second half of 2014 (7.50 million TEUs) and
in the first half of 2016 (7.48 million TEUs) due to
mainly the exit from the management of the container terminal of
Gioia Tauro. In the first six months of 2026 in Germany it was
reached a new all-time high of 4.64 million TEUs (+9.6%),
of which 2.57 million TEUs in the port of Bremerhaven (+5.4%), 1.17
million TEUs in the port of Hamburg (+3.6%) and 898 thousand TEUs in the port of Hamburg
Wilhelmshaven (+35.1%). In Italy, 898 thousand TEUs were handled
(+4.4%), of which 574 thousand in La Spezia (+3.35), 213 thousand in Salerno
(+6.2%) and 111 thousand in Ravenna (+7.3%). In other countries it is
record traffic of 1.87 million TEUs (+7.2%),
of which 1.56 million in Tanger Med (+3.6%), 258 thousand in Limassol (+7.9%) and
53 thousand in Damietta.
The Eurokai group closed the first half of 2026 with
revenues of €149.6 million, with an increase of 14.4% driven by
from the highest volumes of goods handled, from the highest
revenue from storage fees, performance growth
of the intermodal activity and the first consolidation of the
Genoese STS, which was acquired in the middle of last year,
year from the Rail Hub Milano of the subsidiary Contship Italiana and which
brought in 10.6 million in revenues. Costs grew to a
similar pace. Material costs rose to €48.6 million
(+22%), especially for diesel and road and rail transport; the
personnel costs rose to €44.1 million (+13%), for the
contractual increases and for the increase in the workforce which goes from 950
to 1,060 employees. Despite this, EBIT improved by
+11.3% to €32.5 million. The picture changes below the line
operating position. The result of investee companies valued at equity
decreased from €32.3 million to €27.5 million, mainly
for the lower share of profit of the Eurogate equal joint venture
with his compatriot BLG (23.2 million against 25.2), to which are added
the losses of goodwill of the Damietta terminal. The result before
taxes therefore fell slightly, to 59.8 million euros
(-2,1%). Income taxes rose to €15.0 million (€12.2 million)
million in the first half of 2025), then the incidence
has increased from 20% to about 25% and consequently the
value of consolidated net profit fell to €44.8 million
(-8,3%).
Announcing these results today, Eurokai announced a
upward revision of forecasts. At the beginning of the year, the group
expected a consolidated profit for 2026 significantly lower than
that of 2025, while it now estimates it in line, thanks to the volumes and
to the still high storage fees both in Contship Italia and in
Eurogate. The estimate does not include the agreement with APM Terminals on the North
Sea Terminal in Bremerhaven, which provides for investments of about one
billion euros
(
of 13
February 2026). The closing of the agreement is expected in
fourth quarter and would be worth - Eurokai specified - about 20
million in additional profit. Equity investments are also left out
20% each in the Hamburg terminal for CMA Terminals and
Hanseatic Global Terminals (Hapag-Lloyd), with expected effect
"significantly positive". Among the risks the group
indicates the crisis in the Middle East, with the blockades in the Strait of
Hormuz and the tensions in the Red Sea, and energy costs.
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