Seaport businesses continuously report profits

In 2024, many seaport enterprises achieved positive production and business results as the volume of goods passing through seaports increased.

According to statistics from the Vietnam Maritime Administration, in 2024, the volume of goods passing through Vietnam's seaport system is estimated to reach 864.4 million tons, an increase of 14% over the same period in 2023, and container cargo through Vietnam's seaport system is estimated to reach 29.9 million Teus, an increase of 21%.

Cargo throughput through seaports in 2024 will increase compared to 2023 (Photo: Ta Hai).

Along with the positive results of the maritime industry, last year, many seaport businesses also "made a fortune".

By the end of 2024, the cargo throughput through Hai Phong Port will reach nearly 40 million tons. The company's consolidated financial report recorded net revenue from sales and service provision of VND 2,595.3 billion, an increase of 20.35% compared to 2023. The parent company's accumulated profit for the year increased by 42.31%, reaching VND 807.2 billion.

In the fourth quarter of 2024 alone, Hai Phong Port's revenue increased by 23.17% over the same period, and cost of goods sold increased by 8.43%. Profit after tax in the quarter increased by more than 47%, reaching VND 156.9 billion.

According to the company's explanation, the profit after tax in the fourth quarter of 2024 and the whole year of 2024 increased compared to the same period last year mainly because last year, Hai Phong Port and Hoang Dieu Port One Member Co., Ltd. recorded another income from compensation from Hai Phong city for land acquisition under the investment project to build Nguyen Trai bridge and urban beautification of the surrounding area in May To ward, Ngo Quyen district, Hai Phong city.

It is expected that in the first quarter of 2025, Hai Phong Port will put into operation phase 1 of berth 3 at Lach Huyen. This is expected to create favorable conditions for businesses in the business and development momentum in 2025.

In production and business activities, last year, Hai Phong Port established two important joint venture companies with SITC and TIL (part of MSC Group). In which, TIL International Port Company Limited, Hai Phong Port is responsible for exploiting two international container terminals No. 3 and 4 of the Lach Huyen International Gateway Port project, Hai Phong.

The project has a total investment of 6,946 billion VND. The scale includes 2 wharves for ships up to 100,000 DWT (nearly 8,000 TEUS) with a total length of 750m, width of 50m; barge and service wharves with a total length of 250m, width of 15m for ships up to 3,000 DWT (nearly 160 TEUS)...

Also having positive production and business results in 2024, Dinh Vu Port Investment and Development Joint Stock Company recorded net sales and service revenue of more than 694.3 billion VND in the year, the enterprise recorded a profit after corporate income tax of 336.2 billion VND for the whole year, a slight increase over the same period last year. In the fourth quarter of 2024 alone, Dinh Vu Port recorded a profit after tax of 61.8 billion VND, an increase of 8.9% over the same period in 2023.

As one of the major seaports in the Central region, Da Nang Port Joint Stock Company also had a prosperous business year. Last year, the company announced a revenue of more than VND 1,452 billion, an increase of 17.5% compared to 2023. Profit after corporate income tax increased by 9.4%, reaching VND 301.3 billion.

According to the announcement of Da Nang Port, in 2024, cargo throughput through the port will increase by 15% and container cargo will increase by 13% compared to 2023.

As a company that owns large seaports stretching from North to South, Gemadept Joint Stock Company also had remarkable business results last year. The company's consolidated financial report shows that during the year, net revenue reached 4,832 billion VND, an increase of 25%.

Despite positive revenue, profit growth was negative. Profit after corporate income tax reached more than VND 1,905 billion, down 24.7% compared to 2023 - the year Gemadept Gemadept had a sudden increase in profit thanks to divestment from Nam Hai Dinh Vu port.

In the fourth quarter alone, Gemadept's after-tax profit increased by 85% over the same period last year, reaching VND355.5 billion, mainly thanks to core business activities of port exploitation and profits from joint ventures and associates.

Also with seaport business as its main activity, Vietnam National Shipping Lines ( VIMC ) is excited to report a profit in 2024.

The cargo throughput through VIMC's seaport system in the year reached 145 million tons, an increase of 126% over the same period compared to 2023. Of which, container output reached 6.2 million Teus, an increase of 127% over the same period.

The output of the seaport block grew well and higher than the national average because VIMC has resolutely and synchronously implemented solutions to maintain and increase the market and market share.

As a result of the year, VIMC's total revenue reached VND 24,813 billion and total profit reached VND 4,940 billion.

Source: https://www.baogiaothong.vn/doanh-nghiep-cang-bien-lien-tuc-bao-lai-192250202160918542.htm