Piraeus Port Authority records new highs in half-year revenues, profits

Piraeus Port Authority SA registered a rise in revenues and profits in the first half of 2024, achieving once again the best returns historically for the specific time period.

Piraeus Port Authority SA registered a rise in revenues and profits in the first half of 2024, achieving once again the best returns historically for the specific time period.

Specifically, total revenues for the first half of 2024 amounted to 107.1 million euros compared to 102.4 million euros in the same period in 2023, an increase of 4.7 million euros, or 4.6%.This change is mainly due to the significant increase in revenues of the car transport sector by 59.9%, the cruise sector by 13.2%, and the container sector (Pier I) by 4.0%.

There was also an increase of 7.3% in profits before tax, which totaled 53.0 million euros, compared to 49.4 million euros in the corresponding period of 2023. After-tax profits totaled 40.4 million euros compared to 38.7 million euros, representing a positive change of 4.4% compared to the corresponding half-year of 2023.

Chairman of PPA SA Lin Ji expressed his satisfaction with the company’s new increase in revenues and profits in the first half of 2024, stating, “Instability and unique geopolitical circumstances in the Middle East continue. Our company and the Port of Piraeus, as everything indicates, managed not only to remain unaffected by this situation, but to continue its overall activity with rising performance and results, just as it has been doing continuously for a long time. This absolutely demonstrates the correctness of the planning, but also of the systematic work, which have ensured all necessary elements for the reliability and, above all, for the resilience of the Port of Piraeus.”