Global Ports Holding plc, a cruise port operator listed on the Malta Stock Exchange, has forecast a 31 per cent increase in its revenues for the current financial year when compared to the previous year, with revenues set to top €226,000 over the period.

EBITDA is forecast to rise to €154 million, a significant increase over last year’s €115 million.

In its latest financial analysis summary, the parent company of the Valletta Cruise Port said that its Central Mediterranean and Northern Europe holdings will see revenues increase from €22 million in the last financial year to €30.5 million in the current year.

Global Ports Holding plc’s financial year runs from 1st April to 31st March.

The Central Med and North Europe unit includes five cruise ports in Italy, three cruise ports in Northern Europe, and La Goulette Cruise Port in Tunisia, apart from Vallett Cruise Port.

Among the three ports in Northern Europe is Liverpool Cruise Port, which was added to the group’s inventory shortly after the end of the last financial year.

For this reporting segment, Global Ports Holding said that conditions and dynamics had been characterised by “a strong increase in cruise calls but lower-than-normal occupancy levels,” although these improved as the last year progressed.

This year, although the number of cruise calls across the region only increased by six per cent, passenger volumes surged by 71 per cent to reach 1.7 million, exceeding the 1.4 million recorded in 2019 prior to the outbreak of the COVID-19 pandemic.

This led revenues to surge by 48.6 per cent for the period.

Valletta Cruise Port is the group’s largest port in the Central Med and Northern Europe, welcoming one million passengers in the last financial year, a large increase over the 328,000 passengers in the previous year.

The group highlighted Maltese authorities’ investment in a €50 million project aimed at developing electricity infrastructure for cruise liners and cargo ships to switch off their gasoil or heavy fuel oil powered engines and plug-in to shoreside electricity to energise their onboard systems whilst they are berthed at port.

Inaugurated in December 2023, the project is one of the first in the Mediterranean to reduce harmful emissions from cruise ships by up to 90 per cent.

It also pointed out that Valletta Cruise Port was awarded ‘World’s Best Cruise Terminal for Sustainability’ by the World Cruise Awards in the last financial year.

Global Ports Holding went private in 2024 after Global Yatirim Holding, its parent company, made a cash offer to minority shareholders. The group's share were subsequently delisted from the London Stock Exchange in August 2024.