Piraeus, May 19th 2020
The financial results for the year 2019 of PPA S.A. were presented
to the Hellenic Fund and Asset Management Association
The annual briefing to the Hellenic Fund and Asset Management Association for the results of PPA S.A. for the year 2019 took place via teleconference in the presence of the CEO of PPA S.A. Captain Fu Chengqiu, Mr. Angelos Karakostas, Deputy CEO, and Mr. Tian Chao, Assistant CEO & CFO. The most important financial data of 2019 are as follows:
- The turnover amounted to € 149.2 million compared to € 132.9 million in the corresponding period of 2018, showing an increase of 12.3%.
- Profit before tax amounted to € 47.6 million compared to € 42.3 million in the year 2018, showing an increase of 12.5%.
- The net result is improved by 27% to € 35.4 million compared to € 27.9 million of the year 2018.
- PPA S.A. will pay € 5.4 million concession fees to the Greek State for the year 2019 compared to € 4.8 million in 2018.
- The cash and cash equivalent amounted to € 106.7 million compared to € 80.9 million in 2018.
- The proposed dividend per share amounts to € 0.5388 from € 0,424 in 2018 (an increase of 27%).
As the CEO of PPA S.A. Captain Fu Chengqiu stated:
“2019 was the most successful year in terms of profitability. The successful financial management also brings additional revenue to the Greek State due to increased concession fees, dividends, insurance contributions, etc. and contributes in the welfare of the local communities”.
Finally, it is noted that in 2019, totally the three Piers of the Container Terminal achieved a new record handling 5,65 million TEU, bringing Piraeus to the first place in the Mediterranean.