The state port system provisionally closes the 2024 financial year with a turnover of €1.288 billion

• Annual profitability remains above the 2.5% target set for the entire system
• The increase in economic results is largely due to a 2.7% rise in port traffic

March 4, 2025 (Puertos del Estado). The state-owned port system, coordinated by Puertos del Estado and comprising 28 Port Authorities managing 46 ports, closed the 2024 financial year with net turnover of €1.288 billion, representing a 3.6% increase compared to the €1.243 billion recorded in 2023, according to provisional results, achieving 105.2% budget execution.

The provisional pre-tax result for the financial year reached €331 million, reflecting 163.1% budget execution and a 10.2% increase compared to 2023. This result enables ports to maintain economic self-sufficiency, allowing them to carry out investment plans as well as cover operational expenses.

These economic figures reflect a year, 2024, in which general interest port cargo traffic reached 557.7 million tons, a 2.7% increase compared to 2023.

Usage fees, which include charges on cargo, vessels, and passengers, and represent the largest revenue segment, amounted to €629 million, marking a 3.1% increase from 2023. The occupancy fee totaled €337 million, up 6.4%, while the activity fee reached €148 million, a 2.6% increase.

Regarding operating expenses, the main cost items included fixed asset depreciation (€440 million), external services (€334 million), and personnel expenses (€320 million).

The operating EBITDA stood at €644 million at the provisional close of 2024, reflecting a 2.8% increase compared to €626 million in 2023, and 20% higher than the €536 million budgeted.

Regarding port system assets, non-current assets increased by €187 million, reaching €13.002 billion at the provisional close of the financial year, while current assets amounted to €238 million. Total long- and short-term debt stood at €1.116 billion at the provisional close of 2024, reflecting a €40 million reduction compared to the previous year.

In terms of annual profitability, preliminary figures indicate a 2.76% return, showing a slight increase compared to 2023 and 2022, and remaining above the 2.5% annual profitability target set for the entire port system.