Piraeus Port Authority Witnessed Half Increase In Profits!

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Greece’s Piraeus Port Authority S.A. (PPA S.A.) announced on Wednesday a 28.02 percent increase in revenues in the first nine months of 2022, compared to the same period last year, says an article published in Xinhua.

Half increase in revenues

The Chinese-controlled harbor said its revenues amounted to 145.8 million euros (146.76 million U.S. dollars) between Jan. 1 and Sept. 30, compared to 113.8 million euros in the same period in 2021.

Gross profit was around 83.1 million euros in the same period, up from 55.8 million euros in the first nine months of 2021. This represents an increase of 49.06 percent.

“The number of cruise ships that called at the port in the first nine months of 2022 is up by 87.9 percent compared to the first nine months of 2021 (511 versus 272),” PPA said.

Double increase in passengers

A 207.6 percent increase in passengers in the first nine months of 2022, compared to the same period in 2021 (632,642 passengers compared to 205,700 in 2021), was also recorded.

China’s COSCO Shipping acquired the majority of PPA shares in 2016 after an international tender. The company’s subsidiary, PCT, has managed the port’s container terminals since 2009. (1 euro = 1.01 U.S. dollar)

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Source: Xinhua

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