Annual briefing to the members of the Hellenic Fund and Asset Management Association

Piraeus, 08.05.2014

Press Release

The members of the Hellenic Fund and Asset Management Association were informed, at the annual briefing about issues of PPA SA, by the President and CEO of the company Mr. George Anomeritis, accompanied by the General Director Mr. St. Hatzakos, the Financial Director Mr Aik. Venardou and the Investor Relations Officer Mr Nekt. Demenopoulos.
Mr. G. Anomeritis, presenting the financial results of 2013, stressed that the profitable course of PPA SA will continue in 2014, despite the ongoing crisis of the Greek economy in the area of transportation.
As it is known, in the fiscal year 2013, the PPA:
• Increased pre-tax profits by 30%
• Increased after-tax profits by 12.1%
• Reduced administrative expenses by 3%
• Increased available cash by 177%, reaching 40.624.049 Euro
• Paid the Greek government and funds 21 million Euro.
• Reduced the ratio labour costs/ total expenses by 74% in 2007 to 52% in 2013, making this another reason for the port to be fully competitive with all other European ports.
Mr. G. Anomeritis, on questions about privatization through the sale of 67% PPA SA shares and the procedures to be followed, replied that the questioners’ investors can address to HRADF SA, which is the owner of these shares.
Mr. G. Anomeritis, among others stated that the PPA is “a growth engine of the Greek economy, Piraeus and its business, by contributing to the social, environmental and cultural processes of the City. The PPA participates in international affairs and moves within the rules of the European port market”.