The Piraeus Port Authority (PPA) has reported its highest-ever financial performance for the first half of 2024, with both revenues and profits showing significant growth. Despite global uncertainties, particularly in the Middle East, the PPA has continued its upward trajectory, driven by strong performance across key sectors.
Revenue Growth Across Key Sectors
In the first six months of 2024, PPA’s total revenues reached 107.1 million euros, a 4.6% increase compared to the 102.4 million euros reported in the same period of 2023. This growth is largely attributed to a remarkable 59.9% increase in revenues from the car traffic sector, alongside notable gains in the cruise sector (up 13.2%) and the container sector (up 4.0%).
Profitability on the Rise
Pre-tax profits rose by 7.3%, amounting to 53 million euros, compared to 49.4 million euros in the first half of 2023. After-tax profits also saw an increase of 4.4%, reaching 40.4 million euros, up from 38.7 million euros in the corresponding period of the previous year.
Strategic Efficiency Amid Global Challenges
PPA President, Mr. Lin Ji, expressed satisfaction with the company’s financial results, emphasizing that despite ongoing geopolitical instability in the Middle East, Piraeus Port has continued to operate efficiently. He attributed the port’s sustained success to a well-implemented strategy and consistent efforts that have bolstered its reliability and ensured its long-term sustainability.
Conclusion
The Piraeus Port Authority’s strong performance in the first half of 2024 highlights its resilience and strategic capabilities in navigating external challenges. The port’s continued revenue and profit growth across multiple sectors solidifies its position as a key player in global maritime logistics.
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Source: Naftemporiki
