Home Greece Piraeus Port Authority financial results for the year 2021

Piraeus Port Authority financial results for the year 2021

PPA S.A. announces the financial results for the year 2021 with an annual turnover of € 154.2 million compared to € 132.9 million in 2020, recording an increase of € 21,3 million or 16%. The profit before taxes amounted to € 49.2 million compared to € 36.9 million in previous year, recording an increase of € 12.3 million or 33.3%. The profit after taxes amounted to € 36.8 million recording an increase of 39.4% compared to € 26.4 million in 2020. Finally, the proposed dividend per share amounted to € 0.63 increased by 57.5% compared to 2020 (€ 0.40).

 The above amount is the highest level of profitability in the PPA history. Compared to the previous year, Pier I at the Container Terminal performed an increase of 13,9% in TEU handling, Car Terminal had an increase of 40,6% in vehicles throughput, the Cruise Terminal achieved a significant recovery by facilitating a total number of 379 Cruise Vessels and the number of vessels at the Ship Repair docks had an increase of 16.5%.

“PPA Chairman, Yu Zenggang expressed his satisfaction with the financial results, stating: “The continuous increase in the company’s turnover despite the difficulties we have all faced in the past due to the pandemic, reveals a highly resilient company built on solid foundations. We are responsibly implementing our strategic plan for the Port of Piraeus, already placed among the leading Ports in the Mediterranean and Europe. The implementation of PPA’s mandatory investment plan continues steadily and with absolute consistency. In addition to strengthening the financial position of the Company, this creates multiple benefits to the local and national economy. With the same dedication and high sense of responsibility we will continue our dynamic sustainable growth path, while staying true to our vision of expanding Greece’s Piraeus port into the biggest harbor in Europe and one of the most important ports in the world in environmental, digital, societal and governance terms.”

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