Piraeus Port Authority record highest revenues in its history

Piraeus Port Authority record highest revenues in its history

Piraeus Port Authority S.A. has announced total revenues of €219.8 million ($23.8 million) for the year 2023, marking an increase of 12.9 per cent or €25.2 million ($27.3 million) from €194.6 million ($21.1 million) in 2022. 

Piraeus Port Authority had its Annual General Meeting of shareholders last week via teleconference, following the prescribed procedures and achieving a quorum of 81.28 per cent.

All items on the agenda were approved by a majority vote.

The gross dividend amount, as proposed by the Board of Directors, was set at €1.34 ($1.45) per share, reflecting a 29 per cent increase compared to 2022.

Some other key highlights include profits before taxes rising to €96.2 million ($104 million), up by 28.8 per cent from €74.7 million ($81 million) in 2022, while Profits after taxes increased to €66.8 million ($72.4 million), a 26.3 per cent rise compared to €52.9 million ($57.3 million) in 2022.

The figures above constitute the Company’s highest achievements to date in terms of revenue and profitability.

The Chairman of Piraeus Port Authority S.A., Mr. LIN Ji, who led the General Assembly, thanked the shareholders for their trust, as well as the Company’s Management and employees for their continuous effort.

READ: Maersk forecasts strong financials for second half of the year

He noted: “Our Company’s upward trajectory and improved financial results, notably for the third consecutive year, demonstrate that our strategies for port development and modernisation, along with significant operational decisions, are heading in the right direction.

“They create the right conditions for establishing Piraeus as one of the top ports in the Mediterranean and Europe. The largest Greek port keeps delivering high-quality integrated port services, ensuring its industry reliability and competitiveness.

“Combined with our commitment to sustainable growth, environmental stewardship, and systematic contribution to society and future generations, we are laying solid foundations for a resilient port that creates benefits and, above all, value for everyone, both now and in the future.”

Earlier this year, Piraeus Port (PPA S.A.) entered a partnership with the Port of Guangzhou in China, ranking among the top 10 largest commercial ports globally.

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