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| Santos Brasil |
Record Volumes and Revenue Growth Mark Robust Fourth Quarter
Santos Brasil, a leading Brazilian logistics company, reported a 17% rise in fourth quarter container handling compared to the previous year. The company moved 391,190 containers in Q4, up from 335,130 in the same period of 2023. Long-haul shipping volumes soared, with exports increasing by 35% and imports by 17%.
Terminal Performance Highlights Significant Expansion
The Tecon Santos terminal in southeast Brazil led the gains, handling 343,515 containers, a 19% increase year-on-year. The surge was fueled by strong exports of cotton, sugar, coffee, and cellulose. Imports of vehicle parts and chemicals also contributed to higher long-haul operations. Cabotage at Tecon Santos grew by 12.5%, supported by a new service that boosted cargo volumes.
The Tecon Imbituba terminal in the south handled nearly 22,370 containers in Q4, up 40% from last year. A new long-haul service, launched after Santos Brasil sold 47.55% of its shares to CMA CGM, drove long-haul volumes up 60%. Cabotage at this terminal rose by 27% thanks to new operational routes. In contrast, the northern Tecon Vila do Conde saw volumes fall by 19% due to severe drought, which led to shipping delays and longer port queues, despite a 1.9% increase in cabotage.
Annual Results Reflect Sustained Momentum
For the full year 2024, Santos Brasil handled almost 1.5 million containers, a 23% increase over 2023. Tecon Santos processed 1.3 million containers, up 24% year-on-year. Tecon Imbituba grew by 53% to 80,835 containers, while Tecon Vila do Conde dropped 4.8% to 94,970. Annual profit climbed to R742 million, up 47%, and revenue jumped by 36% to R2.9 billion. Despite an 8.3% year-on-year dip in Q4 profit, the company's revenue rose 18.5% to R790.7 million.
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