Despite the security challenges of recent years, attacks in the Red Sea, and growing competition from private ports, the Port of Ashdod is posting impressive figures: record revenues of approximately NIS 1.2 billion and a doubling of the company’s value within three years.
“We are proving that a government-owned company can succeed under free-market conditions,” said Shaul Schneider, Chairman of the Board of the Port of Ashdod, who participated yesterday in the Israel Economic Conference 2026.
“We are talking about record revenues of NIS 1.23 billion,” Schneider said at the conference. “This represents significant growth of nearly 17% compared to the previous year. Our operating profit stands at NIS 155 million, and EBITDA reached NIS 300 million.
“What’s important to understand is that over a three-year period, under intense competition with private ports,” he added, “we have doubled the company’s value. If, in 2022, the valuation was NIS 1.6 billion, today we are talking about a value exceeding NIS 3 billion.”
Schneider added, “We are the only government-owned company competing against five private ports owned by massive conglomerates from India and China. It’s not simple, as the regulation imposed on us is far stricter. But we have proven that a strategy focused on profitability—not just market share—works. We are becoming more efficient, investing in technology, and maintaining a high level of service.”
Schneider also addressed the threat posed by the Houthis and the broader impact of the war. “The port is the oxygen pipeline of the economy,” he said. “About 40% of Israel’s goods pass through us. The war posed enormous challenges. We had to convince international shipping companies to continue coming to Israel despite the risks.
“Beyond that, there was a massive cyber challenge,” he added. “Since the start of the war, we have blocked 134,000 significant cyberattack attempts aimed at crippling national infrastructure. We worked closely with the defense establishment, the Navy, and the US Navy to ensure operational continuity.”
The interviewer, journalist Yehuda Sharoni, asked about the possibility of issuing shares of the port. “In my personal opinion, a minority public offering of up to 49% of the shares on the Tel Aviv Stock Exchange is the right move,” Schneider said. “It would bring money into the state, strengthen the company, and turn employees into partners in its success. At the moment, it depends on decisions at the political level—but from a business standpoint, the port is ready and worthy of becoming a public company.”
Written in collaboration with Ashdod Port