The first full year of management by Pedro Suárez at the helm of the Port Authority of Tenerife highlights a change in direction. The Port of Santa Cruz de Tenerife, contrary to the prevailing mantra, is much more profitable than it seems. It is one of the European infrastructures with the greatest future and potential in all of Europe. Container movements are an absurd statistic that is barely considered by the OECD. For captive market purposes, it is on par with the Port of Las Palmas. It only needs the bureaucracy to be aware of this and not to block the arrival of foreign capital.
If Las Palmas has 77 million euros in the banks, the ports of Tenerife are not far behind. With a treasury of 59.2 million euros—compared to 46.6 million in 2023—the Port of Tenerife enjoys an enviable liquidity to face future infrastructure challenges, consolidating itself as one of the crown jewels of the Spanish port system in the Mid-Atlantic. It maintains a latent investment commitment, with 13.1 million euros in ongoing fixed assets, aimed at improving and modernizing facilities whose total value is already approaching 468 million euros. With these figures, the Port Authority of Santa Cruz de Tenerife not only closes a record year but also positions itself with enviable solvency to lead the logistics of decarbonization with a total cleaning-up.
In a year marked by operational resilience, the Port Authority of Santa Cruz de Tenerife has closed 2024, pending the fiscal closing of 2025, presenting a balance that invites optimism. The result of the year rose to 18.45 million euros, a notable jump from the 10.78 million recorded the previous year. This 71% increase in net profit underscores efficient asset management in an increasingly competitive Atlantic environment.
The engine of this growth has undoubtedly been the turnover, which exceeded 56 million euros. When breaking down the figures, an interesting data point emerges that defines the nature of the port: the Passenger Fee (T2) contributed 14.9 million euros, significantly surpassing the Merchandise Fee (T3), which remained at 6.8 million. This dominance of passenger over container reflects the critical importance of the port as a logistical hub for cruise tourism and inter-island connectivity.
The revenue structure reveals other statistical gems. While the fee for fresh fish barely summed 50,390 euros—almost a negligible niche in the overall balance—the Vessel Fee (T1) injected 9.8 million euros into the port coffers, evidencing a steady traffic of large draft vessels. On the expenditure side, the Port Authority allocated 12.6 million euros to personnel.
News written by Raquel Molina. Edited and verified by José L. Jiménez. Information cross-checked without institutional filters. This analysis has not been funded by official advertising nor conditioned by lobby interests.
