Santos Port Authority (SPA), the state-owned company that manages the Port of Santos, ended the first quarter with a net income of R$135.2 million, an increase of 91% over the same period in 2021, making it the company’s highest quarterly result in history. The expressive result was driven by a combination of increases in revenue and drops in costs, made possible by the focus on efficiency, austerity, and rationalization of resources to which the company is currently committed. This performance allowed SPA to end the quarter with a cash position of R$1.6 billion, increasing 72.8% year on year. SPA’s net revenue grew 23.6% in the first quarter, reaching R$313.0 million, a result favored mainly by the increase in cargo handling (+9.6%), a new record for the period.
Source: Datamar News