Home Greece Piraeus port shows positive results in their Annual Financial Report 2019

Piraeus port shows positive results in their Annual Financial Report 2019

Photo (L-R): PPA BoD Member Mr. Apostolos Papapostolou, PPA BoD Member Mr. Nikolaos Arvanitis, PPA BoD Chairman Mr. Yu Zenggang, PPA CEO Capt. Fu Chengqiu and PPA BoD Member Mr. Charalambis Karamaneas.

The Annual General Assembly of the PPA S.A. shareholders took place today Friday 17th July 2020 with a quorum of 86.41% and approved among other items the Annual Financial Statements and the Dividend Distribution for the financial year 2019, which, as the Board of Directors proposed, amounts to € 0.5388 per share, compared to € 0.424 of the previous year (an increase of 27%).

The most important figures of the Annual Financial Report 2019 are the following:
– The turnover amounted to € 149.2 million compared to € 132.9 million in the corresponding period of 2018, showing an increase of 12.3%.
– Profit before tax amounted to € 47.6 million compared to € 42.3 million in the year 2018, showing an increase of 12.5%.
– The net result is shown improved by 27% to € 35.4 million compared to € 27.9 million in the year 2018.
– 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.
– Cash amounted to € 106.7 million compared to € 80.9 million in 2018.

The General Assembly was chaired by the Chairman of PPA S.A. Mr. Yu Zenggang, who stated: “The year 2019 was marked by the achievement of the first place of Piraeus in the Mediterranean, as in total all three piers of the Container Terminal reached a new record of container throughput, handling 5.65 million TEU. This high performance had several positive effects on the national and local economy, such as increase in the concession fee, in dividends, in tax contribution, working positions and finally improvement of the socio-economic footprint of the PPA S.A.”