Balearia reported a turnover of €801 million ($849 million) for the 2025 fiscal year, representing a 16 per cent increase compared to the previous period. The shipping company also saw its profit rise to €63 million, marking a 152 per cent jump as international routes bolstered its financial performance.
The company transported 6.5 million passengers and 1.6 million vehicles throughout the year. These figures represent a 15 per cent and 11 per cent increase respectively, effectively doubling the customer base over the last decade.
International traffic experienced a significant surge of 68 per cent, with nearly two million people travelling on these routes. Balearia said Morocco has established itself as the primary international market following the award of a 15-year contract for the Tarifa to Tangier City connection.
Cargo volumes grew by 10 per cent to reach 8.4 million linear metres, which the company stated is equivalent to approximately 622,000 trucks. This segment now accounts for 36 per cent of total revenues.
While the Balearic Islands remain the primary market with 59 per cent of cargo volume, Morocco now accounts for 29 per cent of total logistics traffic. Balearia noted that its connections with North Africa now contribute a revenue share similar to its domestic Balearic routes.
In August, the company signed agreements to acquire Armas Trasmediterranea, a transaction that is currently awaiting approval from competition authorities. Chairman Adolfo Utor explained that Spain requires "solid maritime operators with sufficient scale" to compete with large international groups.
The potential integration would add 15 ferries and 1,500 employees to the Balearia Group.
Balearia highlighted that operational efficiency was improved through the addition of new vessels and the opening of new routes. The company stated that increased costs resulting from regulations have not affected its overall profitability due to higher fleet productivity.
Construction has commenced on two electric fast ferries powered by batteries for use on the route between Tarifa and Tangier City. The company also launched the Mercedes Pinto, its third fast ferry equipped with dual-fuel engines.
