Brazil’s Santos Port Authority posts record H1 revenue above R$1 billion

The Santos Port Authority (APS), responsible for the public infrastructure of the Port of Santos and the Port of Itajaí (SC), recorded gross revenue of R$1.04 billion in the first half of 2025.

This was the first time that APS exceeded the R$1 billion revenue mark in a first half, an increase of 13.4% compared with the same period in 2024 – R$921 million.

The main reason for this record was the additional revenue obtained after APS took over operations at the Port of Itajaí.

Also in the first half of 2025, APS posted net income of R$159.4 million. This figure was 53.6% lower than in the first half of the previous year. Among the reasons was an agreement reached with Portus, the supplementary pension fund for employees of the country’s port authorities, which had been under federal intervention in recent years.

The agreement allowed the resumption of pension benefits for retired former employees and also ended three lawsuits with a combined value of more than R$3 billion.

The recognition of expenses related to the agreement was accounted for in the first quarter of 2025.

In the second quarter, APS reported a profit of R$146.7 million, remaining at a similar level to the second quarter of 2024, when it closed at R$147.2 million.

Below is a history of long-haul container throughput at the Port of Santos since January 2022. The chart was prepared with DataLiner data and excludes cabotage and internal movements.

Long-Haul Container Throughput at the Port of Santos | Jan 2022 to Jul 2025 | TEU

Source: DataLiner (Click here to request a demo)

EBITDA

Adjusted EBITDA totaled R$544 million in the first half – an increase of 15.9%, driven mainly by revenue growth. Adjusted EBITDA margin reached 59%, 1.2 percentage points higher than in the same period of 2024.

Source: APS

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