Ethiopian Maritime Transport Records 188% Profit Surge, Reaching ETB 9.3 Billion

Ethiopian Maritime Transport and Logistics has announced a remarkable performance for the past six months, with a profit of ETB 9.3 billion before tax, marking a 188% increase from the previous year. This impressive result also exceeds the institution’s initial target of 6 billion birr in pre-tax profit.

The announcement was made in the presence of Ethiopian Investment Holding Deputy CEO, Habtamu Haile Michael, and other key officials overseeing the institution’s operations.

Berhane Gebreezgar, Head of the Business and Development Department, shared insights on the institution’s pivotal role in Ethiopia’s trade infrastructure. He highlighted that Ethiopian Maritime Transport and Logistics has been instrumental in facilitating the country’s import and export operations, providing comprehensive logistics services. These include transporting factory products, machinery, vehicles, construction materials, and various cargoes by both sea and land.

In the first half of the year, the institution handled 3.9 million tons of import and export cargo, surpassing expectations. Additionally, the revenue generated from these services reached over ETB 46 billion, exceeding the target of ETB 44.1 billion and reflecting a 99% year-on-year growth.