PPA S.A.: Financial Results Announcement for Fiscal Year 2024 to the Hellenic Fund and Asset Management Association

Revenue and profits climbed to new highs for the company– An increase in the proposed dividend by 43.7% (€1.92 per share)

PPA S.A. presented the financial results for the fiscal year 2024 to the Union of Institutional Investors at the Athens Stock Exchange. The presentation was conducted by representatives of the company, led by Deputy CEO Mr. Angelos Karakostas, and a discussion followed with institutional investors and analysts answering questions regarding the progress of the port’s business activities.

For the fourth 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 €230.9 million, representing an increase of €11.1 million or 5.0%, compared to €219.8 million in the previous fiscal year. Pre-tax profits reached €112.9 million, up from €96.2 million in 2023, marking a 17.4% increase. Profits after taxes amounted to €87.5 million, a 30.8% increase from €66.8 million in 2023. Finally, the proposed dividend per share reached €1.92, up 43.7% from €1.34 in 2023. It is noteworthy that this marks the largest dividend distribution, and the highest level of profitability ever recorded since the company began its operations. It is further highlighted that the company’s outstanding performance is not only reflected in overall figures, but is consistently observed across individual operational segments 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 strategic 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 2024”.

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