The first half of 2021 is a testament to the organisation of DanPilot, a pilotage company that has been diligently adapting to a smaller market as a result of the fallout from Covid-19.
DanPilot expects the decline in shipping traffic and the company's finances to continue into the second half of 2021.The first half of 2021 has been marked by a period of extraordinary need for rapid transition at DanPilot, the pilotage company, with reduced ship traffic resulting from the downturn in the world economy.
The half-year results reflect that DanPilot has been agile in reducing its costs and adapting to the external influences and the downturn in activity. In addition, DanPilot believes there is further potential to strengthen its competitiveness. At the same time, DanPilot maintains a large contingency to provide pilotage all year round, around the clock in all ports. The profit after tax for the period was DKK 1.6 million.
This result is negatively affected by a decrease in the number of pilots. The impact comes in part from a depressed tank market, where continued low demand is having an impact. At the same time, the cruise market is under great pressure and the entire 2021 season will be very limited. For example, although the container market, where liner shipping companies have high activity, has experienced a strong recovery, this recovery is not translating into more container ships. It simply means that they are sailing with more containers on board when the ships are unloaded.
DanPilot expects the downturn in shipping traffic, and therefore the economy, to continue into the second half of 2021 as a result of the depressed world economy. DanPilot's guidance for the year is subject to significant uncertainty due to the ongoing Covid-19 pandemic. The expectations for the result from ordinary operations for 2021 are therefore between DKK -1 million to DKK 4 million after tax
Result And Balance Sheet
- Revenue amounted to DKK 201.3 million, a decrease of DKK 10.2 million compared to the first half of 2020.
- External production costs and other external costs amounted to DKK 33.3 million compared to DKK 37.1 million in H1 2020.
- Personnel costs amounted to DKK 158.6 million compared to DKK 167.7 million in H1 2020.
- The reduction is mainly due to efficiency gains, but also to lower activity.
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