Piraeus Port achieves historic financial performance

Piraeus Port conveys strong earnings in H1 2023

Piraeus Port (PPA S.A.) has announced a sustained solid growth in earnings and income in the first half of fiscal year 2023, establishing the new greatest performance in its history.

PPA S.A. reported that profits before taxes increased by 48.8 per cent to €49.4 million ($52 million), up from €33.2 million ($35 million) in the same period in 2022.

Profits after taxes were €38.7 million ($40 million), up from €25.9 million ($27.3 million) in the same period in 2022, representing a 49.6 per cent increase.

PPA S.A. also had a 10 per cent growth in turnover during the first half of 2023, reaching €102.4 million ($108 million).

READ: Piraeus Port posts €93 million turnover

This renewed growth in turnover was attributed to increased revenue across all sectors of PPA S.A.’s activities. 

Despite the constraints confronting the transportation sector, container throughput increased throughout the port’s three piers.

Yu Zenggang, Chairman of PPA S.A., expressed his delight at the port’s repeated excellent financial achievements and the solid start to fiscal year 2023.

He emphasized: “The unwavering dedication to achieving a balanced growth and continuously improving services across all port sectors has consistently played a pivotal role in driving these positive financial results, firmly establishing the port as comprehensive, high-quality, and highly competitive.”

In March, Greece’s Piraeus Port announced a record annual revenue of €194.6 million ($207.5 million) in 2022, up 26.2 per cent from 2021.

Four months later, Piraeus Port welcomed the Orient Overseas Container Line Europe (OOCL) containership, OOCL Piraeus, to its harbours.

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