The Santos Port Authority (SPA), the state-owned corporation that runs the major Brazilian port, finished 2022 with the best result in its history, achieving a net profit of US$106 million, translating to a 66.3% growth over 2021.
The company’s net revenue reached US$270 million, up 24.1% from the previous year, indicating the record 10.5% increase in the period in cargo handling and the constant search for efficiency in the optimised allocation of areas ports for transition contracts and new leases.
SPA noted that its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 28.3% to US$146 million, with a margin of 55.8%.
“The result reflects the structural changes we implemented at the company, prioritising efficiency and the continuous search for operational improvement,” stated Fernando Biral, CEO of SPA.
Port of Santos sees profits soar over 66%
