The America's Cup subtracts €3.5 million from the record profits of the Port of Barcelona

BarcelonaIn 2024 It was a record year for the Port of Barcelona, with a turnover of 200 million euros never reached before (6% more than a year ago) and a net profit of 63 million euros, with an increase of 26%. In addition, 69.7 million tons of merchandise passed through the infrastructure (8.9% more and the second best historical figure) and 5.4 million passengers (1.7% more). Results presented this Tuesday in which there is only one stone in the shoe: the America's Cup, between 2022 and 2024, caused a loss of 3.5 million euros.

Despite the negative result of the America's Cup, the port's managers have expressed satisfaction with the impact of this competition because it served to accelerate some investments and has allowed new infrastructures to be left in the city. "The America's Cup has left many projects that can now be enjoyed," said the president of the port, José Alberto Carbonell.

The improvement in freight traffic in 2024 has been significantly influenced by the conflict in the Middle East. Most container ships from Asia have stopped passing through the Suez Canal and entered the Mediterranean via Gibraltar, which has benefited the two main container ports: Tangier and Barcelona. In fact, container traffic in 2024 increased by 18.5%, bulk solids traffic remained stable (up 0.1%) with a decrease in cement but a significant increase in potash from the Bages mines and soybean imports, and bulk liquids. Ro-ro traffic (trucks and trailers on ships) increased by 2.8%.

The only traffic that fell compared to the previous year was automobile traffic. 682,000 cars passed through the port, 13.7% less than in the previous year. The reason, according to the port's president, is to be found in the slowdown in demand for electric cars and the increase in tariffs that the EU has imposed on Chinese cars. However, the decline is not that great, according to the port's general manager, Àlex Garcia, because as there were not enough ships in the world to carry cars, they began to be transported in containers. According to the port's general manager, almost 44% of cars were in containers, so the real decline would be 9.4% and not 13.7%. The port has planned a third car terminal that will begin to be processed this year and "is consolidating itself as the entry of the Chinese electric vehicle into Europe," said Garcia.

Less debt and more investments

The port's 2024 results and solid financial position will enable it to undertake a major investment plan of 332.5 million euros, which will be launched in 2025. In addition, the port will draw up its 2026-2030 strategic plan this year. The entity faces the period with a bank debt that at the end of 2024 was 106 million euros, 14.5% less than a year ago, and a treasury position of 335 million euros, 3% more, according to the financial director, Míriam Alaminos.

The financial manager has boasted of these results, which make the Port of Barcelona the most profitable in the State and the one that contributes the most to Puertos del Estado, specifically 13 million euros. This year the port, for the first time, will pay corporate tax, which will amount to 3 million euros.

The president of the port has highlighted the uncertainty that can be caused by the trade war started by the Trump administration in the United States. This country is the second destination point for the port's exports (7%) in quota and the third for imports (5%) of unloadings. The fear of the trade war has accelerated the activity of Catalan exporters and the departure of goods from the port to the United States has increased by 30% in January. However, "it is difficult to draw conclusions about what will happen," Carbonell stressed.

Regarding cruises, the president of the port He indicated that the agreements with the city council from 2018 are maintained to relocate the terminals and, on the reduction from seven to five of these that the local government requests, Carbonell declined to comment and instead opted for "a discreet dialogue". In 2024, a total of 5.39 million passengers (1.7% more) passed through the port, of which 1.73 million (0.2% more) were ferries and 3.65 million (2.4% more) were cruise passengers.