Annual accounts 2024:
Port of Hirtshals presents record turnover
A record turnover of DKK 87.4 million marks the highlight for Port of Hirtshals, which has just completed its annual report for 2024. The accounts reflect a strong financial position and underline a year focused on establishing an even stronger foundation for the upcoming port expansion in Hirtshals.
2024 became a year of increased activity at Port of Hirtshals. The port closes its financial year with a profit of DKK 10 million and a record turnover of DKK 87.4 million. Several factors contributed to the growth, but among the primary drivers are increased traffic across the quay and full operation of ferry services for the three operators at Port of Hirtshals, Fjord Line, Color Line and Smyril Line.
- A record turnover in 2024 and yet another year of solid earnings are very satisfying, says Michael Lundgaard Thomsen, Chair of the board at Port of Hirtshals, and continues:
- Throughout the year, the board and management have worked closely together to strengthen the port’s core activities within fisheries, logistics, maritime services, and circularity. The 2024 annual accounts also reflect that the board has made several strategic decisions ensuring timely and future-proof investments in the expansion of Port of Hirtshals and in sustainable growth. These are investments that not only shape the future for the port but also strengthen the overall business ecosystem in the region, of which Port of Hirtshals is a key part.
Increased traffic across the quay
In 2024, Port of Hirtshals experienced increased traffic across several areas compared to 2023. A total of 1,759,000 tonnes of cargo was handled to and from vessels in Hirtshals – an increase of 90,000 tonnes from the previous year. In addition, 742,000 passenger cars and 128,000 lorries or trailers crossed the quay in 2024.
It is within the fisheries sector that the Danish port saw the greatest growth in terms of traffic and volume. 2024 recorded the highest value of landed fish in five years – amounting to DKK 496 million, a 29% increase compared to 2023.
- The fishing industry and traffic across the quay are fundamental to our operations and serve as key indicators of how we, our partners, and our customers at and near the port are performing. That is why we are, of course, working to ensure that the positive trend of increasing traffic continue in 2025, says Per Holm Nørgaard, CEO of Port of Hirtshals.
Preparing Hirtshals for the future
Port of Hirtshals continues its focused efforts on the expansion of the so-called ‘Expansion North’. This upcoming development is essential for maintaining the port’s position as a central transport hub between Norway and continental Europe. The 2024 annual report highlights Port of Hirtshals’ strategic commitment to strengthening the financial foundation for the different stages of the expansion
- The expansion is a measure to prepare Hirtshals for the future, enabling the port to meet growing demand for larger facilities from our customers. That is why, in 2024, we focused on increasing liquidity and creating an even stronger financial base for the coming years of making Expansion North a reality, says Per Holm Nørgaard and adds that Port of Hirtshals also expects to achieve a record turnover in 2025.
Facts – Port of Hirtshals annual accounts 2024:
- Revenue: DKK 87.38 million
- Profit: DKK 10 million
- Cargo volume: 1,759,000 tonnes
- Trucks/lorries: 128,000 units
- Passenger cars: 742,000 units
- Passengers: 2,264,000
- Value of landed fish: Approx. DKK 496 million