Piraeus Port Authority S.A. (PPA) announced historically high revenues, net profits and dividend distribution, as well as strong performances in the key business areas in the fiscal year 2024.
Total revenues amounted to 230.9 million euros, up by 5.0% or 11.1 million euros compared to 2023.
Profit before taxes totaled 112.9 million euros, recording an increase of 17.4%, while net profits after taxes reached 87.4 million euros, increased by 30.8%.
The results confirm the continuous strengthening of financial soundness and operational efficiency, the company pointed out.
Cash balances amounted to 204.5 million euros on December 31, 2024.
The management proposed a dividend of 1.92 euros per share, up 43.7% compared to the corresponding dividend of 1.336 in 2023. This is the largest dividend distribution and the highest profitability in the history of the company, which records improved financial results for the fourth consecutive year.
In the individual business sectors, cruises registered a new record, in terms of number of ship calls, passenger traffic and revenues, rising by 15.5%. Strategic planning and targeted partnerships further strengthened Piraeus’ position as a leading cruise hub in the Eastern Mediterranean.
The car park showed a 28.2% increase in revenues, mainly due to the increase in storage revenues and the strengthening of domestic demand. This positive performance offset the decrease in transit cargo, highlighting the profitability of the sector.
Pier I, which is directly managed by PPA S.A., showed a 10.1% increase in revenues, as a result of increased cargo handling in the second half.
Piers II and III recorded a 6.5% revenue decrease due to lower traffic mainly in the first half of the year.
Overall, the activity in the container terminals demonstrated remarkable resilience, maintaining the total revenue of Piers I, II and III at the same level, despite the effects of the Red Sea crisis, which affected global supply chains.
In coastal shipping, revenue rose by 6.5% due to an increase in both passenger and vehicle transport. These figures confirm, according to the Piraeus Port Authority S.A., the decisive role of Piraeus as a key pillar of domestic coastal shipping and the interconnection of the mainland with the islands.
Finally, the shipbuilding and repair zone continued to show intense activity in 2024, and total revenue from shipbuilding and repair activities increased by 0.6%.
PPA S.A. CEO Su Xudong stated: “We are proud to announce another year of strong financial and operational performance.
Despite the global uncertain environment, we managed to record historic results again, while investing in the future of the port. This demonstrates the strength of our strategy and the dedication of our people.
The proposed dividend reflects our commitment to creating value for our shareholders and supporting the long-term development of the port and the Greek economy.”
