Spanish transport company Baleària generated a gross operating profit of €130 million (US$140 million) in 2024, 11 per cent more than in the previous financial year, driven by a six per cent increase in turnover, which stood at €691 million (US$745 million).
The result for the financial year was €25 million (US$27 million), down 36 per cent from last year, due to what Baleària President Adolfo Utor said wwre "increased amortisation and financial expenses resulting from higher debt, changes in interest rates and the high cost of environmental regulations."
In a context of growth and expansion for the company, Utor emphasised that "investments have been tripled, to over €300 million (US$320 million), mainly focused on new ships and improving the efficiency of the fleet."
In 2024, Baleària transported 5.6 million passengers and 1.5 million vehicles, representing growth of eight per cent and 10 per cent, respectively. Almost half of the customers travelled on routes to and from the Balearic Islands.
The connections with Ceuta were consolidated as the shipping company's second most travelled route thanks to a high volume of passengers, while the Melilla-Málaga link, for which Baleària has been awarded a public service contract, saw the greatest growth in passenger traffic.
Meanwhile, Morocco, with 18 per cent of customers, tops the list of international routes, which account for 22 per cent of the shipping company's total traffic. Utor also highlighted the launch of three new routes to Algeria.
In terms of cargo, 7.6 million linear metres were carried, reflecting a growth of three per cent over the previous year. Sixty per cent of the cargo was handled on routes to and from the Balearic Islands, thus maintaining similar figures to the previous year.
Cargo traffic to Morocco is becoming increasingly important for Baleària (accounting for 30 per cent of the total) and is emerging "as a clear focus for future development," according to Utor.