Turnaround at Companhias Docas

Gone are the days of successive losses for Companhias Docas. In line to be privatized, the company began to show a wave of profits in their most recent balance sheets. Traditional feuds of Centrão parties and targets of police operations in the past, the company had one of the worst images in the entire public sector. In recent years, their management has been professionalized. The results are amazing.

The seven state-owned companies responsible for the administration of organized ports accumulated a deficit of R$ 1.042 billion in 2018. The performance reversed radically in 2019 and the company closed the year with a R$ 911 million surplus. Last year, they had to take on extraordinary expenses (such as an agreement to remedy the actuarial deficit of the Portus pension fund and voluntary redundancy programs), but they remained in the black. This year, the expectation is that profit will grow again.

State-owned port companies have become professional and are making a profit

“We will see very good numbers”, anticipates the national secretary of Ports and Waterway Transport, Diogo Piloni. In Santos alone, through which 27% of all Brazilian foreign trade passes, he expects a positive performance of around R$ 400 million.

Port authorities were the object of strong greed from political parties. Between 2014 and 2017, five managers served as president of the CRDJ, which led to frequent changes in the definition of priorities for the ports of Rio and Itaguaí. In 2018, the then president and two directors of CODESP were arrested in Santos on suspicion of fraud in bids and money laundering with contracts totaling R$ 37 million.

When the TCU audited the sector, seven out of ten representatives of terminals leased to the private sector said that the administration of the ports where they operated was hampered by nominations known to be partisan.

Today the situation is different, says Piloni. According to him, 70% of current administrators at the Docks have at least ten years of experience in management and 54% have experience within the port sector. For CODESP, which now presents itself as Santos Port Authority (SPA), a team with a long trajectory in the market was appointed.

Source: Valor Econômico

To read the full original article, visit the link:

https://valor.globo.com/brasil/coluna/a-mare-virou-nas-companhias-docas.ghtml

Sharing is caring!