The Port of Santos’ net profit grows 63% to R$ 329 million in 2021

The Santos Port Authority (SPA) ended 2021 with the best results in its entire history with a net profit of BRL 329.1 million, up 62.6% from 2020, which had been the company’s best year until then.

The result will allow SPA to distribute almost R$308 million in dividends to the Federal Government, a record in the company’s history.

Ebitda, adjusted for extraordinary events and before profit sharing (for a better comparison with 2020), increased 20.1% and reached BRL 603.5 million, with a margin of 54.4%, an increase of 6.7 percentage points over the previous year.

“This result reflects the structural changes that SPA is undergoing. It was a year of significant accomplishments that will contribute to the Port of Santos’s standing as an irreplaceable asset of Brazilian infrastructure,” said the SPA’s CEO, Fernando Biral.

Among such changes, the executive highlighted the auction of STS 08A, won by Petrobras for R$ 558.3 million. Between 2019 and 2022, 11 different terminals will go through auction at the Port of Santos with estimated investments worth R$6 billion. Out of this total, five have already taken place: STS 13A (liquid bulk), STS 20 (solid mineral bulk), STS 14 and STS 14A (cellulose), and, of course, STS 08A.

The remaining six will be held this year. Once all 11 terminals are auctioned off, this will be the most auctions done under the same SPA management, without considering the new internal railway contract and the company’s privatization, which advanced in strides in 2021.

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