ThPA S.A. releases 2023 financial results

ThPA S.A. releases 2023 financial results

Thessaloniki Port Authority S.A. (ThPA S.A.) has announced its financial results for the financial year 2023.

ThPA S.A. is the operator of the Port of Thessaloniki and the multi-gateway intermodal network and logistics solution provider for the Balkans and the broader Southeast, Central and Eastern European region.

Following the approval of the Annual Financial Report from the Board of Directors (BoD) on 17 April, ThPA S.A. has announced that consolidated revenue for 2023 was increased to €85.9 million ($91.67 million), from €85.3 million ($91.0 million) for 2022.

The container terminal posted a significant growth in revenue of over 12 per cent to €59.8 million ($63.8 million), while conventional cargo terminal posted a decrease in revenue by 21.5 per cent to €20.2 million ($21.56 million).

Regarding the Group performance, there was a net increase in profitability at all levels: Gross Profits increased by 1.9 per cent, to €37.6 million ($40.1 million), Operating Profits (EBITDA) increased by 3.4 per cent to €34.1 million ($36.4 million). and the Net Profits after taxes increased by 8.9 per cent, to €20.3 million ($21.66 million).

The Capital Expenditure (CapEx) plan for 2023 exceeded €9.2 million ($9.8 million) and mainly involved a new Cruise Terminal “Alexander the Great”, restoration of functional depths, repair and upgrade of quays, power substation upgrades, procurement of loading and unloading equipment, and ISPS security systems.

READ: Ports of Thessaloniki and Gdańsk develop transport corridor

The Executive Chairman of the BoD of ThPA S.A., Athanasios Liagkos commented: “The implementation of the development plan and the initiatives of ThPA S.A. are constantly strengthening the role of the Port of Thessaloniki in the global port sector.

“With continuous investments of more than €71.3 million ($76.0 million) since 2018, upgrading the equipment, infrastructure, services provided, and the specialisation of the organisation’s human resources, we achieve the strengthening of our partners’ trust, creating new milestones for the Port of Thessaloniki.

“An indicative example is the highest container throughput ever recorded at the Port (520,048 TEU).”

Last August, ThPA S.A. announced the inauguration of a new container block-train service between Thessaloniki and Skopje, the capital of the Republic of North Macedonia.

More recently, the Board of Directors of HRADF (the Hellenic Republic Asset Development Fund) declared ThPA S.A. as the preferred investor for the acquisition of 67 per cent of the shares of Volos Port Authority S.A.

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