PPA S.A.: Half year Financial Results for 2021
8,3% Increase in Turnover
September 28, 2021. PPA reports turnover increase by 8,3%, that is 5.5 million euros in first half of 2021, reaching 72 million euros compared to 66.5 million euros in same period previous year.
This important development was possible due to an income increase in the Cruise, Car Handling and Coasting segments by 175,1%, 34,9% and 9,7% respectively or by 1.2 million euros, 1.9 million euros and 0.3 million euros. An additional increase of 5,7% or 1.8 million euros was due to the pier II and III concession. Finally, the earnings before taxes in the first half year 2021 reached 20.84 million euros versus 20.85 million euros in the same period in 2020 and the earnings after taxes to 15.1 million euros versus 15.5 million euros in the same half year period in 2020.
PPA’s Chairman Mr. Yu Zenggang expressed his satisfaction with the financial results of the first half 2021, commenting: “The continuous increase of turnover despite the significant difficulties we were all faced due to the pandemic, proves once again that PPA S.A. is a company building on a solid and a strong basis, continuing with the same dedication and high sense of responsibility with the implementation of its strategic plan for the Port of Piraeus, while already ranking in the first places among the best ports in the Mediterranean and Europe. We would also like to express our gratitude to Government for COVID-19 prevention and economy recovery”.
Piraeus Port Authority SA is a Greece-based company engaged in the management and operation of Piraeus port, Greece largest post. The main activities of Piraeus Port Authority SA are ships’ anchoring services, handling cargo, loading and unloading services as well as goods storage and car transportation. The Company is also responsible for the maintenance of port facilities, the supply of port services (water, electric current and telephone connection, among others), for services provided to travelers and for renting space to third parties. The main shareholder of Piraeus Port Authority SA is COSCO SHIPPING with a stake of 51 percent, one of the world's largest maritime operators.