Sihanoukville Port Sees Red in Q4’22

Lower container throughput and forex loss causes PAS to register losses in the last fiscal quarter, impacting full year net profit
Sihanoukville Autonomous Port (PAS). Kiripost via PAS Facebook page
Sihanoukville Autonomous Port (PAS). Kiripost via PAS Facebook page

State-owned Sihanoukville Autonomous Port (PAS) suffered a net loss of 14 billion riel ($3.5 million) in its fourth quarter ended December 31, 2022 (Q422) as opposed to a 24.5 billion riel net profit a year ago.

“This was due to a decrease in container cargoes and throughput, and an increase in unrealised foreign exchange loss of 356.66 percent in Japanese yen,” it revealed in its delayed filing with Cambodia Securities Exchange on Friday.

Quarterly revenue fell 12.2 percent to 77.01 billion riel ($19.02 million), from 87.7 billion riel in the corresponding quarter in 2021.

For the full year ended December 31, 2022 (FY22), the sole international and commercial deep-sea port in Cambodia recorded a 10.2 percent decline in net profit at 84.2 billion riel ($20.8 million) compared to 93.7 billion riel in FY21.

Revenue for FY22 rose marginally to 343.7 billion riel ($84.9 million) from 342.3 billion riel a year ago.

At the time of writing, the counter remained unchanged at 14,100 riel for a full market capitalisation of 1.2 trillion riel ($298.7 million).