Global Ports Holding has reported a significant increase in passenger numbers due to the sector’s growth.
- The company achieved a 46% rise in passengers, reaching 13.4 million by March 31.
- Expansion and new port additions have fuelled the remarkable growth.
- A substantial rise in revenue and profits has solidified the company’s robust financial position.
- Global Ports Holding anticipates handling over 16 million passengers in the coming financial year.
The world-renowned Global Ports Holding has recorded an impressive surge in passenger numbers, marking a 46% increase for the year ending March 31. This rise equates to a record 13.4 million passengers, propelled by strategic expansion and the addition of new ports within its network. This growth is emblematic of the broader upsurge in global cruise demand.
Such substantial progress has not only been reflected in passenger numbers but also in the company’s financial outcomes. Profits, as measured by adjusted EBITDA, surged by 47% to nearly $107 million. Meanwhile, revenue mirrored this growth by rising 47% to a noteworthy $172.7 million. These financial results underscore Global Ports Holding’s strengthened market position and operational success.
The group is optimistic about the future, forecasting over 16 million passengers in the next financial year. The increase in passengers using the company’s ports has been significant across various regions, particularly in the Americas and the western Mediterranean and Atlantic areas, where passenger use escalated by 34% and 54%, respectively.
Co-founder and Chief Executive Mehmet Kutman highlighted the year’s remarkable achievements, including the largest-ever investment project, increased shareholdings at key ports, and an extended concession duration at several locations. Kutman stated, “We have started the 2024 cruise season strongly and we are well positioned to be a key enabler and beneficiary of the cruise industry’s continued growth and success in the years ahead.”
Global Ports Holding is well-positioned to benefit from the continued growth in the cruise industry.
