Port of Ostend reports record financial profit

Ostend’s port has achieved its highest financial profit in years. This marks six consecutive years of growth, according to annual figures released on Wednesday. Officials credit strategic investments and a focus on specialised industries for the success.

In 2024, the port achieved a pre-tax profit of 2.6 million euros, its best result in decades. “This increase in structural profit is the result of our long-term strategy and diversification within niche markets in the blue economy”, port officials stated. “The results of the past six years exceed those of the previous 20 years combined.”

The port’s subsidiaries also contributed to the strong financial performance. MultiTech, a company specialising in metal constructions and other technical custom-made goods, generated more than 3 million euros in revenue for the second consecutive year. REBO, a heavy weight terminal, also posted improved financial results. Meanwhile, OSSCO, a newly established firm handling cargo operations and terminal services, turned a profit in its first year.

”The Port of Ostend has firmly established itself as a key player in the Flemish port sector”

Charlotte Verkeyn, chair of the Port of Ostend, emphasised that the financial success allows the port to maintain a high level of investment. “This strengthens our long-term growth and creates more jobs in and around the port”, she said.

CEO Dirk Declerck noted the port’s growing economic importance. He highlighted 8,311 vessel movements in 2024, a total added value of 1.23 billion euros, and nearly 10,000 direct and indirect jobs. “The Port of Ostend has firmly established itself as a key player in the Flemish port sector”, he said.

^{#FlandersNewsService | A jack-up vessel of dredging company Jan De Nul in the Port of Ostend © BELGA PHOTO BENOIT DOPPAGNE}