PPA S.A.: Financial Results Announcement for Fiscal Year 2023 to the Hellenic Fund and Asset Management Association


New highs in revenues and profits – An increase at the proposed dividend by 29% (€1.34 per share)

16 April 2024. PPA S.A. presented the financial results for the fiscal year 2023 to the Union of Institutional Investors at the Athens Stock Exchange. The presentation was conducted by representatives of the company, led by the General Manager of Financial Management Department Mr. Jin Hui, and a discussion followed answering questions regarding the progress of the port’s business activities.

For the third consecutive year, PPA S.A. has achieved its highest performance in its history in terms of revenue and profitability. Specifically, total revenue for the fiscal year amounted to €219.8 million, representing an increase of €25.2 million or 12.9%, compared to €194.6 million in the previous year. Pre-tax profits reached €96.2 million, up from €74.7 million in 2022, marking a 28.8% increase. Profits after taxes amounted to €66.8 million, a 26.3% increase from €52.9 million in 2022. Finally, the proposed dividend per share reached €1.34, up 29% from €1.04 in 2022.

It is worth noting that the company’s outstanding performance is not only reflected overall but is also evident in all individual activities of the port, including cruise operations, coastal shipping, container and car terminal, and ship repair zone.

The company remains steadfast in its commitment to the development plan for the Port of Piraeus, executing crucial and investments aimed at its modernization. This solidifies its position as one of the most significant ports in the Mediterranean and Europe offering top-tier services across all port activities.

About PPA S.A.

Piraeus Port Authority SA is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.

Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society.

PPA is a member of “ECO PORTS”, holds ISO 9001:2015, ISO 14001:2015, ISO 50001:2018 Certifications, is included in the Athens Stock Exchange ESG index and is one of the “Most Sustainable Companies in Greece 2022”.

For more information please visit: https://olp.gr

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