Annual Report
2015
Annual Report
2015

The Alexandra Basin Redevelopment project given the go-ahead

Consistent with the commitments set out in the Masterplan 2012-2040 we commenced implementation of the first major project envisaged within the Masterplan – The Alexandra Basin Redevelopment (ABR) Project.

In March 2014 Dublin Port lodged a planning application for this development with An Bord Pleanála. Following a hearing in October 2014, planning permission for the project was granted on 8 July 2015.

Deepening and reconfiguring Alexandra Basin West to cater for larger vessels

The works we will conduct at the Alexandra Basin West include, amongst others, the deepening and rebuilding of quay walls approximately 800m in length, the extension of Alexandra Quay West by approximately 130m and the excavation and restoration of the historic Graving Dock No. 1.

We will also be dredging to a depth of -10.0m CD over an area of 194,000m2 within the redeveloped Alexandra Basin.

We will be dredging the approach channels to a depth of -10.0m CD

We will begin the construction of a marina protection structure to a height of +7.0m CD over a length of 220m on the southern side of the river channel and will be dredging the Liffey channel to a depth of -10.0m CD from a point circa 55m to the east of the East Link Bridge to a location in the vicinity of Dublin Bay Buoy in Dublin Bay over a distance of 10,320m.

Berths 52 and 53 will be infilled to increase landward storage

The proposed redevelopment consists of the demolition and removal of the existing Berths 52 and 53, the jetty at Berth 52 and the concrete dolphin at Berth 53.

We’ll also begin the construction of a new 300m long river berth at the location, a new 40m long mooring jetty to extend existing Berth 49 and the infilling of Terminal 5 Ro-Ro Basin (an area of 45,650m2). The project also includes raising existing ground levels in the vicinity by c. 1.4m over an area of 95,000m2 and dredging of a new river berth to -10.0m CD.

As part of the Alexandra Basin West redevelopment, we will provide a new 250m RoRo jetty together with two new RoRo berths

We concluded a long-term €100m loan facility agreement with the EIB and received a €23m grant commitment from the EU under its Connecting Europe Facility.

The combination of these along with our strong cash flow will allow us to implement the major programme of capital works over the next decade with low risk to the Company’s financial stability.

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Financial Highlights
Chairperson’s Statement

Dublin Port Company is responsible under statute for the efficient management of Dublin Port, Ireland’s largest and most important hub for international trade...

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Chief Executive’s Review

2015 was a very strong year with growth in our gross tonnage of 6.4% and we ended the year with a record throughput of 32.8m gross tonnes...

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Key Financial Performance Indicators
2015
€’000
2014
€’000
Revenue77,67472,089
Operating Profit42,94136,141
Operating Margin (%)55.3%50.1%
EBITDA49,30643,243
EBIT42,94136,141
Net Interest Charges8331,037
Interest cover
- EBITDA basis (times)59.241.7
- EBIT basis (times)51.534.9
Net Cash / (Debt) as a percentage of total equity (%)10.7%5.9%
Net Cash / (Debt) as a percentage of fixed assets (%)11.9%5.9%

EBIT – earnings before finance costs and tax

EBITDA – earnings before finance costs, tax, depreciation, amortisation, exceptional items and non-exceptional income on revaluation of investment property

Interest cover – the ratio of EBITDA or EBIT to net interest charges

ROCE – the ratio of operating profit to average capital employed

2015
€’000
2014
€’000
EBIT42,94136,141
Depreciation7,65410,113
Amortisation-489-491
Other Income-800-775
Exceptional Items-1,745