Hutchison Ports, the port division of the CK Hutchison conglomerate, has presented its financial results for the year 2025, reflecting a 3% growth in the total traffic of containers, reaching 90.1 million TEUs. The figure includes the operations of Hutchison Ports, where CK Hutchison holds an 80% stake, and its 30.07% participation in the HPH Trust. The volume increase was mainly driven by the growth in exports from mainland China and additional volumes from new facilities in Egypt.
Total revenues reached HKD 48.895 billion (USD 6.244 billion), representing an 8% increase both in reported currency and local currencies compared to the previous year. In the chairman's report, signed by Victor T. K. Li, the group acknowledged that the global economic and geopolitical environment remained complex in 2025 due to the slowdown in growth in some of the largest economies. According to the statement, ongoing and increasing geopolitical tensions have created a volatile trading environment on major international shipping routes. Despite these pressures, the group's geographical diversification helped mitigate adverse effects and generate growth in its port network.
Hutchison's position in the port sector has been shaken by the consequences of its decision to divest from most of its terminals and Panama's decision to take control of the Panama Ports Company operations, the group's Panamanian subsidiary. President Li referred to both issues and noted that geopolitical pressure has led to a significant legal conflict with the Panamanian state regarding the group's container terminal operations in that country. This situation has also complicated ongoing negotiations with potential counterparts over future capital and asset structures, which include possible new agreements for the disposal of interests in the group's global port operations outside of Panama, Hong Kong, and mainland China.
The CK Hutchison group went through a significant restructuring process during the year, which included the completion of the merger between its telecommunications business in the UK and Vodafone UK, as well as the announcement at the beginning of 2026 of the sale of its 100% stake in UK Power Networks to Engie S.A. to generate significant cash flow. Despite these strategic moves in capital allocation, the port division remains an essential contributor to the group's overall results.
Regarding operational breakdown, the 3% volume growth was characterized by a composition of 66% local cargo and 34% transshipment across the global network. While the ports of mainland China and Asia had a good performance in outgoing shipments, Hong Kong experienced lower transshipment volumes due to changes in trading patterns. Revenues were additionally supported by a 17% increase in storage revenues, mainly from terminals in Mexico and Europe. These results helped offset lower contributions from the shipping line business, in a context of declining freight rates throughout 2025.
European ports recorded a slight decline in volume due to the reorganization of services by shipping alliances, which particularly affected Felixstowe (UK). However, congestion at Mediterranean ports resulted in longer dwell times for containers, which increased storage revenues. In this region, revenues grew by 13%, while EBITDA and EBIT increased by 17% and 19%, respectively. The new Abu Qir facility in Egypt contributed additional volumes to the Middle East segment, and the group anticipates greater growth in 2026 with the commencement of four additional berths in the Sokhna port, also in Egypt.
The mainland China segment and other operations in Hong Kong recorded a 9% increase in revenues and a 7% increase in EBITDA, driven by the strong performance of traffic in Shanghai and export activity towards intra-Asian routes, Africa, and South America. Meanwhile, the HPH Trust, which encompasses operations in Hong Kong and Yantian, increased its revenues by 1%, with an EBITDA up by 2% and an EBIT that grew by 4%, supported by outgoing shipments from Yantian to European markets. In the Asia, Australia, and others segment, revenues improved by 7% and EBITDA by 15%, with significant contributions from Pakistan and Thailand, in addition to the storage revenues in Mexico resulting from extended customs inspection requirements.
The total number of group berths remained stable at 295, with new additions in Saudi Arabia compensating for the return of concessions in Iraq.
In environmental terms, the carbon intensity of the division was reduced by 9% and diesel consumption per TEU fell by 7%, thanks to the acceleration of equipment electrification and the gradual phase-out of high-emission machinery. Scope 1 and Scope 2 emissions have accumulated a 23% reduction compared to the 2021 baseline. Renewable energy now represents approximately 45% of the division's total electricity consumption, managed through power purchase agreements and energy attribute certificates. During 2025, the terminals in Myanmar and Pakistan installed 1.4 MW of photovoltaic solar capacity.