The profit after taxes amounted to 36.8 million euros recording an increase of 39.4% compared to 26.4 million euros in 2020.
PPA S.A. announces the financial results for the year 2021 with an annual turnover of 154.2 million euros compared to 132.9 million euros in 2020, recording an increase of 21,3 million euros or 16%. The profit before taxes amounted to 49.2 million euros compared to 36.9 million euros in previous year, recording an increase of 12.3 million euros or 33.3%. The profit after taxes amounted to 36.8 million euros recording an increase of 39.4% compared to 26.4 million euros in 2020. Finally, the proposed dividend per share amounted to 0.63 euros increased by 57.5% compared to 2020 (0.40 euros).
The above amount is the highest level of profitability in the PPA history. Compared to the previous year, Pier I at the Container Terminal performed an increase of 13,9% in TEU handling, Car Terminal had an increase of 40,6% in vehicles throughput, the Cruise Terminal achieved a significant recovery by facilitating a total number of 379 Cruise Vessels and the number of vessels at the Ship Repair docks had an increase of 16.5%.
PPA Chairman, Yu Zenggang expressed his satisfaction with the financial results, stating: "The continuous increase in the company’s turnover despite the difficulties we have all faced in the past due to the pandemic, reveals a highly resilient company built on solid foundations. We are responsibly implementing our strategic plan for the Port of Piraeus, already placed among the leading Ports in the Mediterranean and Europe. The implementation of PPA’s mandatory investment plan continues steadily and with absolute consistency. In addition to strengthening the financial position of the Company, this creates multiple benefits to the local and national economy. With the same dedication and high sense of responsibility we will continue our dynamic sustainable growth path, while staying true to our vision of expanding Greece’s Piraeus port into the biggest harbor in Europe and one of the most important ports in the world in environmental, digital, societal and governance terms.”
Piraeus Port Authority S.A. is a Greece-based company engaged in the management and operation of Piraeus port, Greece largest post. The main activities of Piraeus Port Authority S.A. are ships’ anchoring services, handling cargo, loading and unloading services as well as goods storage and car transportation. The company is also responsible for the maintenance of port facilities, the supply of port services (water, electric current and telephone connection, among others), for services provided to travelers and for renting space to third parties. The main shareholder of Piraeus Port Authority S.A. is COSCO Shipping with a stake of 67 percent, one of the world's largest maritime operators.
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