Port of Santos reports record profit exceeding R$ 800 million and plans infrastructure projects

Port Authority plans R\$ 12.6 billion in public investments in infrastructure and innovation (Matheus Tagé/AT Archive)

The Port of Santos finished 2024 with a surplus cash balance, reporting a record net profit of R\$ 844.6 million, an increase of 29.8% compared to 2023. This financial gain will enable the execution of a series of infrastructure projects, including the start of rock removal from the Port of Santos' waterway channel this semester — an essential step for deepening the operational draft to 16 meters.

According to the financial report released by the Santos Port Authority (APS), gross revenue reached R\$ 1.96 billion last year, an 8.4% increase over the R\$ 1.81 billion recorded the previous year. Net operating revenue totaled R\$ 1.64 billion, up 5.5% from 2023. Operating profit before financial results saw a significant increase of 29%, reaching R\$ 1.01 billion. The Ebitda (earnings before interest, taxes, depreciation, and amortization) also showed substantial growth of 27.3%, reaching R\$ 1.06 billion.

According to the management of the Santos dock, the financial results largely reflect the record performance of the Port of Santos, which handled 179.8 million tons in 2024, 3.8% more than in 2023.

For APS President Anderson Pomini, the record cargo movement and surplus cash balance result from the operational efficiency of the Port of Santos, “which proves its relevance to Brazil’s economic development. This performance reinforces our commitment to modernizing and expanding the port, ensuring competitiveness and efficiency for the coming years.”

Specifically, the port administration informed A Tribuna that this year, "the objective is to begin construction of the Santos-Guarujá tunnel, the Left Bank Perimeter Road, improvements on the Right Bank —including viaducts— the 16-meter dredging throughout the channel, as well as initiating studies for green hydrogen production at the Itatinga Hydroelectric Plant (in Bertioga)."

Other plans include continuing housing projects to relocate residents living in stilt houses along the channel, the 5G internet project, and the second phase of Valongo Park.

APS also stated that it "remains focused on implementing new operational improvements", with unprecedented public investments of R\$ 12.6 billion in infrastructure and innovation.