Coordinated by Puertos del Estado and consisting of 28 Port Authorities that manage 46 ports, the system reported a net business figure of 1.238 billion euros for 2023. This represents a 3.7% increase compared to the 1.193 billion euros in 2022, according to provisional results, achieving 101.1% of the budgeted performance in a year when port traffic decreased by 3.28%.
The pre-tax profit for the year reached 300 million euros, which constitutes 147.6% of the budgeted performance and a decrease of 3.6% compared to 2022. This result allows the ports to maintain their economic self-sufficiency, enabling them to undertake their investment plans as well as cover their operating expenses.
The usage rates, which include among others the merchandise, vessel, and passenger fees, and which represent the largest income item, reached 608 million; the occupancy rate, 316 million euros, up 6% from the previous year; and the activity rate, 142 million euros, +4.9%.
Álvaro Rodríguez Dapena, the president of Puertos del Estado, highlighted the good overall economic results of 2023, particularly given the complex geopolitical situation of the past year which caused a drop in goods traffic.
Regarding operating expenses, the main items include depreciation of fixed assets (435 million), personnel expenses (299 million), and external services (307 million).
In terms of operational EBITDA, it was 626 million euros at the end of 2023, a decrease of 2.9% compared to the 644 million in 2022, and 16.7% higher than the 536 million budgeted.
As for the assets of the port system, there was a decrease in non-current assets by 107 million euros, standing at 12.699 billion at the end of 2023, and current assets were 224 million. The total long and short-term debt at the end of 2023 was 1.157 billion euros, a reduction of 107 million compared to the previous year.
Regarding annual profitability in aggregate terms, for the purposes of applying correction coefficients to the rates for vessels, passengers, and merchandise, it has risen to 2.58%, slightly decreasing compared to the 2022 fiscal year but still above the annual profitability target set at 2.5% for the entire port system.”