Valenciaport satisfied with latest figures
The consolidated annual accounts of Valenciaport for the year 2018 have been published. The Port Authority of Valencia (APV) closed the year 2018 with a turnover of more than EUR 138 million, a decrease of 0.9% compared to 2017.
This variation is a consequence of the reductions applied to shipping rates (T1) and ticket fares (T2). Despite these figures, the pre-tax results grew by 4.7% to EUR 33.7 million (in 2017: EUR 32.2 million) and the operating result exceeded EUR 36 million. Likewise, the APV accounts reflect that in 2018 ebitda amounted to EUR 81.5 million and cash flow exceeded EUR 72 million.
Francesc Sánchez, general director of the APV, said. “We believe it is especially relevant and very positive that these results were achieved in a year in which the rates were lowered.” Moreover, Valenciaport continues to reduce its indebtedness. The year 2018 was closed with a debt below EUR 400 million (399.4 million) compared to EUR 430 million of debt in 2017. (cd)