Results from 2025 operations: Building Tomorrow’s Economy

Press Release

Annual Meeting of the Montreal Port Authority

Montreal, April 23, 2026 — Nathalie Pilon, Chair of the Board of Directors, presented today the results of the Montreal Port Authority’s (MPA) activities for 2025 at the annual meeting held at the Port of Montreal Tower.

In a global context marked by uncertainty, the Port of Montreal delivered solid results. Operating revenues reached $155.4 million, compared to $143 million in 2024, while net income stood at $24.2 million. Container volumes increased, although overall tonnage was slightly down compared to 2024. The year was also marked by significant progress on the Contrecœur expansion project and continued major investments to ensure infrastructure sustainability and operational fluidity.

Cargo traffic

In 2025, the Port of Montreal handled 34.3 million tonnes of cargo. This performance reflects the geopolitical context, economic slowdown, and lower water levels on the St. Lawrence River. Despite these factors, results exceeded expectations in an uncertain environment.

• Containers: 1.52 million TEUs (+3.6%) / 12.3 million tonnes (-2.2%)
• Liquid bulk: 13.45 million tonnes (-1.6%)
• Dry bulk: 8.57 million tonnes (-6.4%), including 4.3 million tonnes of grain
• Cruises: 61,727 passengers and crew (-2%) across 42 operations

Financial results: upgraded outlook by Standard & Poor’s

The MPA recorded EBIDA of $63.3 million in 2025, up from $49 million in 2024. Rigorous cost control reduced operating expenses (excluding depreciation) by 2.1% compared to 2024.

Total operating expenses reached $128.7 million, including $92 million excluding amortization. Capital investments totaled $187 million, notably for urgent rehabilitation work on Pier 28, a century-old infrastructure.

Taking into account financial income and expenses, net income amounted to $24.2 million. The Port of Montreal maintains a strong balance sheet and an excellent AA credit rating from Standard & Poor’s, upgraded in April 2026, along with a solid debt coverage ratio.

“2025 was a year of vigilance and action. Vigilance, because the world was marked by major geopolitical tensions, market instability, lower-than-normal water levels on the St. Lawrence, and Canada’s slowest economic growth since 2020. In this context, our results remain robust and demonstrate our organization’s adaptability, as well as our commitment to serving businesses and supporting thousands of jobs. And action, as the Contrecœur expansion project reached key milestones—financing, partnerships, permits, and the start of work. This is a project for the future, enabling Quebec and Canadian businesses to achieve their global ambitions,” said Nathalie Pilon, Chair of the Board.

Preparing the economy of tomorrow

The Contrecœur expansion project reached a decisive stage in 2025, with major financial, regulatory, and operational progress:

• Financing: $130 million confirmed by the Government of Quebec
• Environmental permit: Approval from Fisheries and Oceans Canada for compensatory habitat measures
• Operational partnership: Joint development agreement with DP World Canada (DP World and the Caisse)
• Construction start: Preparatory work awarded to the CTCGP consortium (Pomerleau and Aecon) under a $609 million contract for in-water works

At the same time, several key projects were completed, including the Pie-IX rail bridge and major quay rehabilitation and modernization works, improving performance and sustainability.

“A strategic infrastructure must be protected, maintained, and above all developed with clarity and ambition. As businesses seek to diversify trade and reduce dependence on a single market, we have a responsibility to plan for future demand,” added Nathalie Pilon.

Sustainable development

In 2025, the MPA’s Scope 1 and 2 GHG emissions reached 4,840 tonnes, a 30% reduction compared to the 2007 baseline. Carbon intensity per tonne handled has decreased by 47% since 2007, reflecting sustained progress over time.

The 2023–2027 Sustainable Development Plan continues to be deployed through concrete initiatives, including quay electrification, renewable natural gas supply, and greening and biodiversity protection projects.

The MPA also strengthened its community engagement by supporting nearly 70 organizations through its donations and sponsorship policy, increasing dialogue with citizens and First Nations. In a spirit of transparency, the Port held open houses on the Contrecœur expansion project and launched a dedicated microsite to improve access to information and understanding of the project.

ILR4