The Port Authority of Las Palmas faces 2026 with **financial health** that can withstand sudden changes. Awaiting the closure of the 2025 fiscal year, it approaches the 2027 election year with a **financial solidity** that many private logistics operators would envy. This is a snapshot of a public ‘money-making machine’ that, for now, **sails with balanced accounts and a filled cash reserve: 77 million euros in cash** await their turn to be invested in the upcoming dock.
The net profit climbed to **27.95 million euros**, a significant jump from the 20.9 million recorded the previous year. This result is not a matter of chance, but rather a result of an **increase in revenue that nearly reached 80 million euros**, primarily driven by T1 and T3, reflecting the rise in physical activity at the province’s docks.
**The Cemetery of La Isleta and the 12 Million in Limbo**
One of the most curious data points from the accounting is the maintenance of an accumulated impairment of **12.5 million euros for land in La Isleta**. Due to the ‘principle of prudence’, the Port Authority of Las Palmas has kept these rights at a loss since 2006 due to doubts regarding the utilization of this protected area. It serves as a accounting reminder that, at the Port, land is not always synonymous with income if environmental regulations hinder operations at the docks.
**Invoices Up to Date: A Lesson in Payment Efficiency**
In a country where public payment delays are often a headache, the Port Authority of Las Palmas stands out for its unusual efficiency. The average payment period to suppliers drastically reduced from **23.5 days to just 15.83 days in 2024**. The figure is even more surprising when considering that **98% of the total invoice amount was paid in less than 60 days**, managing a monetary volume exceeding 63 million euros.
**Litigations, Inheritances, and the Trace of COVID**
The report also serves as a diary of the Port’s legal disputes. The institution maintains a provision of **3.28 million euros for a claim by the Community of Heirs of Doña Ana Díaz Martín**, who are litigating over alleged unjust enrichment following the expropriation of some land. In contrast, the Port has finally managed to ‘clear’ the shadows of the pandemic: provisions for claims arising from construction stoppages during the state of alarm (COVID-19) have been canceled or fully applied this fiscal year.
**Dividends and Executive Luxury: Strict Control**
While the total assets of the Port now approach **901 million euros, operating expenses remain under tight control**. The remuneration for senior management was set at 231,000 euros, virtually identical to the previous year’s figure, while the Board of Directors — where multimillion-dollar investments are decided — received only 112,000 euros in fees and expenses.
News written by Gara Vega. Edited and verified by José Luis Jiménez. Cross-checked information without institutional filters. This analysis has not been financed by official advertising nor conditioned by lobby interests.
