PPA S.A.: New increase in Revenue and Profits in the First Half of 2024 Strong resilience despite the unstable environment

PPA S.A. recorded a new increase in revenue and profits for the First Half of 2024, achieving once again the best performance in its history for this period.

Specifically, total revenue for the first half reached €107.1 million, up from €102.4 million in the same period of 2023, marking an increase of €4.7 million or 4.6%. This growth was primarily driven by significant increases in revenue from the car handling sector (up 59,9%), the cruise sector (up 13.2%), and the container sector (up 4.0%), contributing approximately €6.2 million, €1.2 million, and €0.9 million, respectively.

Additionally, pre-tax profits rose by 7.3% reaching €53.0 million compared to €49.4 million in the same period of 2023. After-tax profits also saw a positive change, increasing by 4.4% to €40.4 million from €38.7 million in the first half of 2023.

The Chairman of PPA S.A., Mr. Lin Ji, expressed satisfaction with the company’s increased revenue and profits in the first half of 2024. He remarked: “Instability and the challenging geopolitical conditions in the Middle East persist. However, our company and the Port of Piraeus continued to achieve strong results, sustaining our upward momentum, as we have consistently done over time. This is a clear testament to the soundness of our strategy and the dedicated efforts that have ensured the Port’s reliability and, above all, its resilience.”

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