TRIESTE – The Northern Adriatic Sea Port System Authority (ports of Venice and Chioggia) has approved the 2026 draft budget, confirming operational continuity despite the transition phase following the appointment of the extraordinary commissioner last July, which, about a month ago, resulted in the confirmation of Matteo Gasparato as president.
For next year, the document forecasts a presumed administrative surplus of over €150 million and an estimated operating profit of €13.7 million. The 2026 management plan is based on an outlook of “constant” expected traffic volumes and current revenues amounting to €64.7 million, driven mainly by port dues (€15.85 million), anchorage dues (€10 million) and state-owned concession fees (slightly down compared with the 2025 forecast, at around €35 million). The current-account surplus remains stable as well, expected at around €22 million—an element that continues to make it possible to self-finance a significant share of investments and to repay loans held by the Authority.
As for the investment plan, in 2026 the Authority expects just under €20 million for works, dredging and maintenance, in line with the previous three-year period but below the peaks recorded in past years. The reason lies in the need to focus on completing works already funded and under construction, many of which are tied to state funds, PNRR, PNC or European programmes. The budget also confirms full coverage for the remaining three-year period, with over €23 million for 2027 and €7 million for 2028, including strategic interventions such as Molo A and maintaining channel depths in the ports of Venice and Chioggia.
Current expenditure is estimated at €42.5 million, driven mainly by staff costs (€11.47 million), institutional services (€8.4 million), ongoing litigation (including disputes linked to asbestos exposure, for €7.3 million), as well as financial and tax charges (€8 million). The impact of IRES taxation on state-owned concession fees continues, bringing tax charges to €5.47 million. The 2026 cash forecast indicates a final balance of €82.1 million, down compared with the beginning of the year—an expected dynamic due to payments linked to ongoing investments.
