Αll-time record in profitability in the history of the Port of Piraeus

The steady investments and the implementation of major large-scale projects by P.P.A. S.A. at the Port of Piraeus in the recent years are now showing visible and measurable results with the modernization and the upgrading of the Port of Piraeus being an actual fact.

In a recent Press announcement, the company shared the financial results for the fiscal year 2021, showing a remarkable performance, revealing an all-time record in profitability in the history of the Port of Piraeus. More specifically, an increase was recorded in the annual turnover to € 154.2 million compared to € 132.9 million in 2020, that means 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).

In addition, compared to the previous year, at Pier I the Container Terminal showed an increase of 13,9% in TEU handling, the Car Terminal an increase of 40,6% in vehicles throughput, the Cruise Terminal achieved a significant recovery by facilitating a total number of 379 Cruise Vessels, while the number of vessels at the Ship Repair docks recorded also an increase of 16.5%.

However, the most important outcome of all, worth emphasizing, is that the excellent performance of the company and the Port of Piraeus with increased year on year financial results translates into a win for the Greek economy and especially for the local community. More specifically, last year the Organization contributed a total of € 26,5 million in taxes, duties and dividends to the Greek state.

In addition, it is worth noting that the higher the turnover of P.P.A. S.A., the higher is the contribution to the surrounding municipalities, as since the transfer of the majority stake to the Organization, the concession fee that PPA S.A. pays to the Hellenic Republic has increased from 2% to 3.5% of the annual Consolidated Revenue of the company with a special provision this amount to be provided to the Port’s surrounding municipalities. For the fiscal year 2021 this amount was over 5.5 million euros.