Port of Piraeus: New highs in revenues and profits in 2023

By | 2024 Newsletter week 14 | No Comments

The Piraeus Port Authority S.A. announced its financial results for the fiscal year 2023.

+12.9% Revenue (EUR 219.8 million)

+28.8% Pre-tax profits (EUR 96.2 million)

+26.3% Profits after taxes (EUR 66.8 million)

These results represent the highest performances in the company’s history for both revenue and profitability, marking the third consecutive year of improvement.

  • Cruise sector: passengers, ship calls and homeport calls up.
  • Car handling sector experienced a higher-than-expected increase in domestic car demand with Imported car registrations rising by 31.4%.
  • Cargo handling declined by 30.0%.
  • In the coastal shipping sector, passenger and car flows increased due to the significantly improved touristic flows, with a 7.9% rise in total passenger traffic and a 3.8% in car traffic.
  • The three container terminals maintained growth.

Source: PPA S.A.

Port of Piraeus: Strong performance in H1, 2023, with a significant increase in profitability and turnover

By | 2023 Newsletter week 39 | No Comments

In H1 2023, PPA S.A. reported a continued robust increase of profits and income, achieving the new highest performance in its history.

  • +8% profits before taxes EUR 49.4 million.
  • +49.6% profits after taxes EUR 7 million.
  • +0% turnover EUR 102.4 million.

This renewed growth in turnover was attributed to increased revenue across all sectors of PPA S.A.’s activities. Especially it was driven by the cruise sector where approximately double number of passengers transported compared to the corresponding period of the previous year. Additionally, there was an increase in container handling in the total three Piers of the port, despite the challenges currently facing the transport sector.

Passenger traffic data July 2023 in the ports of Piraeus – Rafina – Lavrio

By | 2023 Newsletter week 30 | No Comments

More than 2 million passengers moved this July from and to the ports of Piraeus, Rafina and Lavrio, registering a 7.85% increase compared to the same month last year.

Of these, 1.5 million were to and from the port of Piraeus, an increase of 8.55% compared to July 2022. (Cars +7.66%, trucks +5.73%, two-wheelers +7.82%.)

The largest increase in passenger traffic is observed in the Argosaronic Islands as 452,680 passengers moved this July compared to 389,908 in July 2022. This is an increase of 16.1% compared to last year.

A 4.99% increase in passenger traffic is also seen in the port of Rafina (cars +7.47%, two-wheelers +4.53%, trucks -2.9%).

It is noted that the port of Lavrio recorded an increase in passenger traffic by 7.57% and cars by 8.61%.

Port of Piraeus: financial results for the year 2021

By | 2022 Newsletter week 11 | No Comments

+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

By | 2021 Newsletter week 17 | No Comments

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.


By | 2020 Newsletter week 43 | No Comments

“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 Port Leads the Way in Covid-19 Readiness

By | 2020 Newsletter week 40 | No Comments

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.”

Port of Piraeus PPA Weathers the Covid Storm Pretty Well

By | 2020 Newsletter week 40 | No Comments
  • -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.

Port of Piraeus: Small Losses and 4th Place Amongst the Top-15 European Ports

By | 2020 Newsletter week 34 | No Comments

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.