PPA S.A.: Ordinary General Shareholders’ Meeting completed
July 13th 2022. PPA S.A. held today, Wednesday July, 13th 2022 the company’s Ordinary General Shareholders’ Meeting through a teleconference, which was successfully completed in accordance with the statutory procedures and had the necessary quorum of shareholders with a participation at 78,66%. During the General Meeting, there was constructive communication with the shareholders and information on the current developments. Also, the shareholders of PPA S.A. commented positively on the Company's financial performance. All issues of the General Meeting were approved with high majority.
During the General Meeting, among others the Annual Financial Statements and the Dividend Distribution for the fiscal year 2021 were approved. It should be noted that the dividend, following the relevant proposal of the Board of Directors, amounted to 0.628 euros per share, increased by 57% compared to 2020. The key highlights of the Annual Financial Report for 2021 were the company’s turnover totaled 154.2 million euros, profit before taxes amounted to 49.2 million euros and profit after taxes to 36.8 million euros. The cash flow showed an increase amounting to 135.0 million euros, while it is noted that by the end of 2021 the cumulative contracted amount of the mandatory investments amounted to 250.5 million euros or 89.9%.
PPA S.A. Chairman, Mr. Yu Zenggang, who chaired the General Meeting expressed his satisfaction with the meeting, particularly with the company’s stable and robust financial results, indicating that the chosen strategy, consistently implemented in recent years at the Port of Piraeus, is the appropriate one, ensuring the achievement of intended goals and protecting the shareholders’ interests. Thanks to this, the Port could enter a new era of sustainable development, with diverse activities and the provisioning of high end services leading to the well-deserved position of a global transportation hub and one of the most significant ports in the Mediterranean and Europe.