Global Ports Holding Releases Preliminary Results for FY 2024

Global Ports Holding Plc, the largest independent cruise port operator, reported its unaudited financial results for the fiscal year ending 31 March 2024. The company experienced significant growth despite a challenging economic and geopolitical environment.

The number of passengers surged to 13.4 million, marking a 46% increase from the previous year. This rise helped drive a 47% increase in adjusted EBITDA to $106.9 million. However, total revenue decreased by 9%, reaching $193.6 million. The company managed to achieve positive operating profit and profit after tax, rebounding from losses in the prior period.

Key milestones include welcoming Saint Lucia and Liverpool Cruise Ports under long-term concession agreements and completing financing for the San Juan Cruise Port. GPH also strengthened its balance sheet with successful bond issuances and increased ownership stakes in several ports.

Moving forward, GPH forecasts over 16 million passengers for the next reporting period, aiming to continue its growth trajectory.