Turnover increase by 29,3% – New all-time record in revenue and profitability, generating an ever-increasing direct benefit to the surrounding municipalities
+16% turnover € 154.2 million (€ 132.9 million)
+33% profit before taxes amounted € 49.2 million (€ 36.9 million)
+39% profit after taxes € 36.8 million (€ 26.4 million)
+57% Proposed dividend per share € 0.63 (€ 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%.
Port of Piraeus PPA S.A.: Financial results 2020
At the recent annual briefing of PPA S.A. to the Hellenic Fund and Asset Management Association regarding the results of Piraeus Port Authority S.A. (PPA S.A.) for the year 2020 it was underlined that:
- the Company proceeded with contracting of investments amounting to € 211.7 million
- the turnover amounted to € 132.9 million
- the profit before taxes amounted to € 36.9 million
- and profits after taxes amounted to € 26.4 million.
“Positive” September for the Port of Piraeus
Port of Piraeus presented an increase of 4,5% in container traffic in September, according to the monthly data published by COSCO Shipping Ports. In Q3, a decrease of 4,1% was recorded as well as a total decrease of 5,5% in the nine-month period.
In any case, the data of the last quarter of the year are expected with great interest as they will reveal the annual total loss that the port will have due to the consequences of the pandemic, as well as the dynamics that Piraeus maintains in relation to other rival Mediterranean ports.
Portsmouth International Port says in a press release that it has become one of the first in the UK, recognised by independent assessors, for its new protocols to manage and reduce the risk of COVID-19 infections.
Portsmouth is a major transport hub, with passenger sailings now operating again between France and Spain, and its continued role as a lifeline route for the Channel Islands. The port had to quickly adopt government safety measures to protect both staff and customers.
Andrew Williamson, passenger operations manager said: “Our aim was to give passengers confidence that the new preventative measures we have put into place are of the highest standard, and to highlight the benefits of international travel by sea. This verification from DNV GL provides further reassurance about the efforts we are taking to keep them safe.”
- -5.8% turnover EUR 66.5 million (70.6)
- -4.7% profit before tax EUR 20.9 million (21.9)
- -2.2% earning after taxes EUR 15.5 million (15.9)
This change is mainly due to the significant reduction of revenues from:
- the cruise sector EUR 3.7 million,
- the revenues of the Coastal Shipping sector by EUR 1.6 million
- the revenues from the Car Terminal by EUR 2.2 million
The above decrease was mainly counterbalanced by an increase in revenues at the Container Terminal and revenues from the Ship Repair sector.
According to the recent data from Porteconomics.eu, the port of Piraeus is ranked 4th among the top 15 ports in Europe despite the pandemic. In the first semester of 2020, the handling of containers in the largest port of Greece decreased only by 6.2%, compared to 2019. That figure reveals that the largest Greek port shows significantly better yields compared to other ports controlled by the Chinese COSCO as it seems to have withstood the strong shocks of the first wave of the pandemic in March and June.
On the other hand, regardless of the fluctuations of traffic as reflected for the port of Piraeus and the other fourteen ports in the data, Piraeus continues to claim one of the first three places in the ranking and consequently a better position in the world ranking under conditions related to infrastructure, the construction of the 4th pier as well as the railway project.
Port in Focus: Piraeus
Ferry Shipping News visited Port of Piraeus a few weeks ago and met with Mr. Nektarios Demenopoulos, Deputy Manager/Public & Investor Relations of the port. We talked about the ferry and roro traffic, cruise calls, the protection of the environment as well as the present and the future of the biggest Greek Port.
On December 18, 2019 the new acquisition of the Cretan Daily Cruises, NISSOS CHRYSSI (ex- RUNGHOLT) arrived in Piraeus under tow from Germany.
The ship was purchased last October from the German Wyker Dampfschiffs-Reederei Föhr-Amrum GmbH (W.D.R.). She served the Dagebüll – Wyk (Foehr Island) – Wittdün (Amrum Island) line until May 2018.
She will be converted and possibly introduced on the Ierapetra – Chryssi line.
Piraeus Port Authority (PPA) S.A. officially announced that on November 18th, 2019 it handled the container with number CSUN7025891. It was unloaded from the COSCO Shipping vessel CAPRICORN, reaching the total throughput in the port of Piraeus at 5,000,000 TEU for this year. The fact that the five million limit is already broken in November, brings the Port of Piraeus closer to the first position in the Mediterranean and possibly among the top four ports in Europe.