The company reported net profit of RON14.3 million in the third quarter of 2025, after three consecutive quarters in negative territory, and revenues of RON166.5 million. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached an 18-month high at RON37.9 million.
“In a difficult market context – characterized by volatile flows, continued pressure on tariffs, and hydrological conditions that caused navigation interruptions – TTS continued to focus on cost discipline, port operations, and diversification of the cargo mix. The effect was visible in Q3 2025 when, against the backdrop of moderate revenue growth, TTS Group almost fully recovered the losses recorded in the first half of the year, with margin improvement driven by the sustained reduction in OPEX — validating the operational inflection point
in Q2 2025,” per the company’s nine-month financial report.
“Although Q3/2025 was a weaker quarter both for mineral flows – due to seasonality and navigability – and for chemical cargo flows – which marked a one-off setback on fertilizer demand – over nine months the aggregated volumes on both flows exceeded by approx. 10% the levels recorded in 9M 2024, with stronger growth in port operations (supported by Port of Constanta) compensating for the decline on the river segment. At the same time, the agri segment recovered in Q3/2025, but remained below the level recorded in 9M 2024. Port operations accelerated in Q3/2025, being less exposed to hydrology than river transport, with the priority being the monetization of capacities. The port structure shows increases in third-party contracts, with the objective of favoring higher-margin contracts in a balanced mix in which intra-group contracts are used mainly as an operational buffer, and less as a margin pillar,” the report reads.
The company has a market capitalization of RON964 million and its shares have traded 15% higher so far in 2025.