Santos Brasil records net profit of R$741.9 million in 2024

Santos Brasil has released its financial results for 2024, reporting a 47.1% increase in net profit, which reached R$741.9 million. This performance was fueled by a 36% rise in net revenue, totaling R$2.9 billion, and a 46.9% increase in EBITDA (earnings before interest, taxes, depreciation, and amortization), which amounted to R$1.5 billion.

The company’s net margin improved from 23.6% in 2023 to 25.6% in 2024, while its EBITDA margin climbed to 50.6%, surpassing the previous year’s 46.8%. Santos Brasil’s growth strategy included significant investments totaling R$731.1 million in modernizing and expanding its assets. Additionally, the company distributed 100% of its net profit in dividends and interest on equity (JCP), equivalent to R$0.85 per share.

In the fourth quarter of 2024, Santos Brasil posted a net profit of R$206.3 million, an 8.3% decline compared to the same period in 2023. Despite this, EBITDA for the quarter increased by 10.2%, reaching R$404 million, with an EBITDA margin of 51.1%.

Container Throughput

In 2024, Santos Brasil transported 1,497,207 container units, reflecting a 22.9% year-over-year increase. Tecon Santos, the company’s largest terminal, saw a 24% uptick, driven by strong agricultural commodity exports and a recovery in imports, particularly in auto parts, chemicals, and consumer goods.

Tecon Imbituba recorded a 53.1% surge in throughput, while Tecon Vila do Conde experienced a 4.8% decline, impacted by congestion at other ports. Meanwhile, Santos Brasil Logística registered an 11.9% increase in container storage, totaling 69,756 units. The company’s liquid bulk terminals also expanded fuel storage capacity by 37.1%.

In the fourth quarter of 2024, consolidated container throughput across the company’s terminals totaled 391,188 units, marking a 16.7% growth. Long-haul operations, exports, and imports were the key drivers behind this performance, with Tecon Santos handling 343,514 containers. The terminal regained its leading position at the Port of Santos, capturing 41.5% market share in Q4.

Source: Transporte Moderno

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