Annual profitability remains above the 2.5% target set for the entire system.
The state-owned port system, coordinated by Puertos del Estado and comprising 28 Port Authorities managing 46 ports, provisionally closed the 2024 financial year with a net turnover of 1.288 billion euros, representing a 3.6% increase compared to the 1.243 billion euros in 2023, according to provisional results, achieving 105.2% of the budget.
The provisional result before taxes reached 331 million euros, which represents 163.1% of the budget, and an increase of 10.2% compared to 2023. This result allows the ports to maintain their financial self-sufficiency, enabling them to carry out their investment plans as well as operational expenses.
These financial figures reflect a year, 2024, in which cargo traffic through the public ports reached 557.7 million tons, 2.7% more than in 2023.
The utilization rates, which include, among others, the rates for cargo, vessels, and passengers, and represent the largest income item, reached 629 million euros at the provisional closing, a 3.1% increase compared to 2023. The occupancy rate reached 337 million euros, a 6.4% increase compared to the previous year, and the activity rate reached 148 million euros, a 2.6% increase.
Regarding operating expenses, the main items were depreciation of fixed assets (440 million euros), external services (334 million euros), and personnel expenses (320 million euros).
The operating EBITDA stood at 644 million euros at the provisional closing of 2024, representing a 2.8% increase compared to 626 million euros in 2023, and being 20% higher than the 536 million euros forecasted.
Regarding the port system’s assets, there was an increase of 187 million euros in non-current assets, reaching 13.002 billion euros at the provisional closing of the year, while current assets amounted to 238 million euros. Total long- and short-term debt stood at 1.116 billion euros at the provisional close of 2024, a reduction of 40 million euros compared to the previous year.
As for annual profitability in aggregate terms, it has risen, pending the final closing data, to 2.76%, slightly higher than in 2023 and 2022, and remains above the annual profitability target of 2.5% set for the entire port system.
