Ashdod Port Reports Net Profit of 168 Million Shekels for 2024

Ashdod Port Company has published its financial reports for 2024. The reports show that revenues for 2024 totaled 1.05 billion shekels, compared to 1.03 billion shekels in 2023 - a growth of 5%. Revenue turnover in the fourth quarter of the year totaled 312 million shekels, reflecting consistent and steady growth, quarter after quarter since the outbreak of the war.

The fourth quarter of the year reflects recovery and growth, so the operating profit (before other expenses) for this quarter totaled 53 million shekels, compared to an operating loss of 33 million shekels in the same period last year. The operating profit for 2024: 41 million shekels compared to an operating profit of 38 million shekels in 2023. The net profit in 2024 stood at 168 million shekels, including the impact of the increase in the value of the company's operating assets, compared to a net profit of 39 million shekels in 2023. It should be noted that the port's financial results are attributed to all port activities; container, vehicle, general cargo, bulk and passenger ship sectors.

In the container sector - the volume of containers loaded and unloaded at the port in 2024 totaled 681 thousand containers compared to 669 thousand containers in the same period last year. A growth of 1.8%. Ashdod Port's market share of all Israeli ports in the container field stood at 41.5% in 2024.

In the vehicle sector - in 2024, about 125 thousand vehicles were unloaded at the port compared to about 114 thousand vehicles in 2023, this while responding to demands in the third and fourth quarters of the year following the cessation of activity at Eilat Port.

In the bulk sector - in 2024, 9,232 thousand tons of bulk were unloaded and loaded (not including fuel shipped by sea) compared to 8,822 thousand tons in the same period last year. The growth was reflected in most types of cargo: slag and phosphate, malt, coal and nuclear products.

The volume of general cargo totaled 968 thousand tons compared to 974 thousand tons in the same period last year. During this period, the trend of decline in the amount of general cargo imported to Israel continued, mainly due to a decrease in the import of metals and wood, which are major components in the general cargo sector. The port's market shares in these segments rose relative to competitors.

In the passenger ship (cruise) sector - the "Iron Sabers" war has currently halted activity in the field and the port is preparing for its renewal. However, in 2024, Israeli passenger ships were diverted from the north to Ashdod Port and the port quickly prepared to receive them and provide full service following the fighting in the north.

Chairman of the Board of Directors of Ashdod Port, Shaul Schneider: "2024 ended with growth in business activity, operating profit and significant net profit, despite the war period and the company and its employees' mobilization for the national tasks of responding to the unloading of security ships and the Navy's vessels. The results prove the strength of Ashdod Port Company and the ability of its employees to respond to the strategic needs of the State of Israel."

CEO of Ashdod Port Company, Nissan Levy: "In the second half of 2024, we returned to profitability despite the challenging period. We prepared for the expected growth in demand towards the possibility of a period of calm and recovery. We recruited employees on a significant scale and the results are that we end the year with profitability and especially strong EBITDA. This trend, thanks to the hard work of the dedicated port workers, continues during the first quarter of 2025. The company demonstrates great resilience also in light of the expected arrangement on the horizon. I would like to thank all the workers and employees for their partnership and these impressive achievements."

Transportation Minister Miri Regev: "I congratulate the managers and employees of Ashdod Port on the publication of the successful financial results for 2024. The continued growth in a year full of challenges of a multi-front war, attests to the resilience of the port. 99% of the goods arriving in the country pass through our seaports, and their proper and efficient conduct is therefore a significant component in the cost of imported goods and the cost of living in general. The Ministry of Transportation is working to improve service at the ports while creating fair and healthy competition between them, for the benefit of the consumer - the people of Israel."

The Minister for Regional Cooperation and the person in charge of the Companies Authority, Dudi Amsalem: "Ashdod Port shows great performance also in 2024, the port continues to flourish and succeed greatly, despite the difficult and complex war period and changing targets. Ashdod Port Company, as always, is an example and a model of responsible and successful activity of a government company. The financial results are very impressive and teach about the strength and financial power of the company. I applaud and thank from the bottom of my heart all the managers and managers, all the workers and employees and all those engaged in the work. All the people of Israel feel great pride in our national port, which continues as in recent years to show beautiful results and impressive performances."