Piraeus Port Authority S.A.: Announcement of Financial Results for fiscal year 2022 to the Hellenic Fund and Asset Management Association
31 March 2023: The company announced full year results for fiscal year 2022 to the Hellenic Fund and Asset Management Association, which was held at the Athens Stock Exchange, by representatives of the Company’s Management headed by CFO Ms. Li Jin.
PPA S.A. showcased another year of growth in turnover, marking a new historic record high in revenue and profitability. The company demonstrated strong performance overall and also in the individual port sectors: cruise business, coastal shipping and container handling. After the results’ presentation, a discussion followed with the representatives of the institutional investors and questions were answered regarding developments in the Company’s activities, the investment plan implementation, the future growth drivers, challenges and prospects, etc.
Turnover amounted to €194.6 million compared to €154.2 million in 2021, indicating an increase of €40.4 million or 26.2%. Profits before taxes amounted to €74.7 million, compared to €49.2 million in the fiscal 2021, an increase of 51.7%. Profits after taxes amounted to €52.9 million, indicating an increase of 43.9% compared to €36.8 million in 2021. Finally, the proposed dividend per share amounted to €1.04, increased by 65% compared to €0.63 in 2021.
PPA S.A. remains focused on the successful execution of the port of Piraeus strategic plan aiming at reinforcing the port’s international positioning as one of the most important and competitive ports in Europe, creating added value for all stakeholders of the Port of Piraeus.
Source: Piraeus Port Authority
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PortSEurope Note: Piraeus Port Authority is operated by China’s COSCO Shipping Ports Limited. The Hellenic Republic Asset Development Fund (HRADF) is responsible for privatising Greek state-owned assets
