The port of Castellon has become the most resource-rich port in Spain
Cajamar has been granted debt restructuring rights, which will save 400,000 euros this fiscal year
The Port Authority of Castellon’s Board of Directors unanimously approved the 2019 annual accounts which cover the following figures:
Revenues amounted to 32.64 billion, which is a decrease of just 0.65% from the previous year. It should be noted that this decline is well below the 2% observed in traffic, and that it has led the consolidation to move 20 million tons per year, a spectacular 18% increase from 2018.
Costs grew to 19.7 million, an increase of 3.8% compared to the previous year, with the most prominent expenses being: 5.6 million in personal expenses, 6 million in other expenses, and 8 million in repayments.
The operating result gives a positive balance of 13 million which, keeping in mind the negative financial result of 3 million, yields a positive result of 10 million euros (9,942,083.31). In regards to the available funds, it should be noted that in 2019, there were 55.9 million available, a 27% increase from 2018.
With these positive results, the Port Castelló becomes the most resource-rich port in Spain, and looks towards the future in strong financial standing: profits allow for a reduction in taxes, as will be seen in 2021, and, together with the available funds, will secure the financing of the important investments plans.
On the other hand, the Port Authority of Castellon’s Board of Directors has approved a restructuring of its debt, resolving issues related to the competition announced on February 21, 2020, which was halted due to the Coronavirus.
Of the six entities who offered solutions, Cajamar won the rights to debt restructuring by offering conditions which will provide immense savings regarding the loans agreed upon in 2009 and 2010, which will be paid off by the signing of the new budget. The interest savings for the current financial year should be about 400,000 euros. Furthermore, the deal awarded to Cajamar has a repayment period of twenty years, instead of the ten-year periods typical of previous loans. It does not offer commission for early repayment, which will give Port Castelló greater financial flexibility.
Other approved agreements:
Register Maremosso S.R.L. and Coral Food España S.L. in the census of fish buyers in order to promote the activity of wholesale fish bu