Financials
JAXPORT earned $52 million in operating revenues in FY 2012, a two percent increase over FY 2011 and the port’s 12th consecutive year of operating revenue growth. Strong expense side management and savings in security costs and salaries/benefits allowed JAXPORT to reduce operating expenses to $30 million in FY 2012 from $31 million in FY 2011, a three percent decrease. At the same time, operating income in FY 2012 rose 10 percent to $21.7 million from $19.8 million in FY 2011 thanks to increases in container and vehicle volumes and expense controls.
These financial results reflect JAXPORT’s positive year operationally with additional records set in container volume and vessel calls. JAXPORT facilities moved a record 923,660 containers or twenty-foot equivalent units (TEUs) in FY 2012. Container volume has grown more than 32 percent since 2008. When combined with the volumes from private users of the harbor, Jacksonville is now Florida’s number one container port.
A total of 8.2 million tons of cargo shipped through JAXPORT facilities in FY 2012 and vessel calls rose to a record 2,083. In addition, JAXPORT continued to see a rebound in vehicle volumes (608,726) to near prerecession levels.
In 2012, Moody’s Investors Service assigned JAXPORT a financial rating of “A2” while Fitch Ratings assigned JAXPORT a rating of “A.” Both agencies noted that despite challenging economic conditions, JAXPORT maintained its competitive position as a container port, its status as one of the nation’s largest vehicle processing centers, and its diverse revenue streams supported by long-term contracts with private tenants.
JAXPORT has budgeted $117.5 million for capital projects in FY 2013. This includes Wharf Rehabilitation projects at Blount Island and Talleyrand Terminals, Mile Point Improvements, the Intermodal Container Transfer Facility at Dames Point, and Spoil Site Improvements at Bartram Island.
Read more in JAXPORT's FY12 Annual Report, or call us at (904) 357-3080 to request a high resolution copy bound and printed on recycled paper.
