Home Greece A new improvement of the Piraeus Port Authority Financial Results

A new improvement of the Piraeus Port Authority Financial Results

The Board of Directors of PPA S.A. approved the Annual Financial results 2019 (the full package of annual report will be available 21st Feb. 2020), according to which:

The revenues amounted to € 149.2 million compared to € 132.9 million in the period of 2018, showing an increase of € 16.3 million or 12.3%. This change is mainly due to the revenues increase from the concession fee by 17.1 % or approximately by € 9.6 million. A further increase in revenue was recorded in the Cruise terminal by 18.3% or € 1.9 million and in the ship repair sector by 25.3% or € 2.4 million.

The profit before tax amounted to €47.6 million compared to € 42.3 million in the year 2018, showing an increase of around 12.5% and the net profit is increased by 27% to € 35.4million compared to € 27.9 million of the year 2018.

Also, PPA S.A. will pay € 5.4 million concession fee to the Greek State for the year 2019 compared to € 4.8 million in 2018.

A significant increase 32% was also recorded in cash amounted € 106.7million compared to € 80.9 .9 million in 2018.

The proposed dividend per share is € 0.5388 compared to € 0.4240 in 2018 (an increase of 27 %).

The Chairman of PPA S.A. Mr. Yu Zenggang stated:

The year 2019 was one more successful year for the management and all staff of PPA S.A. The year 2020, after the relevant approvals, we can accelerate the progress of implementation of the Master Plan. We will try our best to bring further contributions to the shareholders, local society and all relevant stakeholders.