Financial statements of PPA SA for the first quarter of 2013




Piraeus, 23/05/2013


Press Release


An increase in profit before tax and net profit after tax was recorded in the financial statements of PPA SA for the first quarter of 2013.

According to the financial statements for the period 01.01.2013-31.03.2013 endorsed by the Board of the Agency:

a) Profit before tax amounted to 347.383 Euro against 185.379 in the corresponding period of 2012.

b) Net profit after tax amounted to 1.133.514 Euro against 521.964 of 2012.

Turnover fell slightly by 2.38%, while operating expenses for the period decreased by 7.04%.

The total equity at the end of the period for the company amounts to 160.8 million compared to 155.5 million in 2012.

As stated by the President and CEO of PPA SA, Mr. George Anomeritis to the Board members: “Although the winter season is not substantial in economic terms for the harbor, the results are positive and show through our statistical data that 2013 will be another profitable year for the PPA. It is particularly significant that during the winter we saw revenue from the cruise industry grow by 69.97%, without changing our tariffs. The PPA after the enactment of the new port system is facing new challenges in development. Also considered in our new growth prospects are the areas of cruise, car terminal and containers terminals, while PCT SA has submitted new proposals for undertaking the construction of the Western Pier III and 3 fuel management companies to build a new pier through concessions. Moreover the task of expanding the southern port for large cruise ships is in the last phase of adoption.”