Thessaloniki Port Authority (ThPA) announced a 62.3% increase in net profits after taxes in the first half of 2024.
In more detail, according to its financial data, the Group’s total consolidated revenues for the first half of 2024 rose 17.3% to 48.4 million euros compared to 41.2 million in the first half of 2023. The container terminal recorded a revenue increase of 16.7% (to 34.3 million), the conventional cargo terminal by 20.7% (to 10.9 million) and the areas of space exploitation and passenger traffic (cruise & coastal shipping) also saw significant increases of 11.0% and 108.5% (to 2.1 million and 0.6 million respectively).
There was also a net increase in profitability across the board: Gross Profits jumped by 29.2% to 22.4 million euros, Operating Profits (EBITDA) 37.6% to 20.8 million euros and Net Profit after the Group’s taxes were up 62.3%, to 13.6 million euros.
The capital expenditure program for the first half of 2024 amounts to 2.8 million and is expected to accelerate in the second half with purchases of new container stacking machines as well as various loading and unloading machines while upgrades of port infrastructure and equipment are underway.
The Executive Chairman of the Board of Directors, Athanasios Liagos, stated: “ThPA S.A. delivered strong performance across all major business lines in the first half of 2024, showing increased revenue and profit at group level. The dynamic start of 2024 highlights progress towards our goals. Acting collectively and based on our strategic planning, we implement actions that strengthen the leading role of the Port of Thessaloniki in international trade, promoting connectivity, the development of the wider port community and the country as a whole.
We remain committed to upgrading the Port having launched infrastructure and equipment projects at our facilities for the second half of this year. On behalf of the Board of Directors, I would like to sincerely thank all of our people for their dedication, which has been a key contributor to this strong performance.”
