Healthy Profits & Revenue Reported by Piraeus Port Authority

The port of Piraeus in Athens
Updated Published

Piraeus Port Authority (PPA) announced the successful conclusion of its Annual General Meeting of shareholders, held on July 4, 2024, via teleconference.

All items on the agenda received majority approval, including the Annual Financial Statements and the Dividend Distribution for the fiscal year 2023 (spanning January 1, 2023, to December 31, 2023).

The Board of Directors proposed a gross dividend of €1.34 per share, reflecting a 29% increase over 2022.

Key highlights from the 2023 Annual Financial Report include total revenues of US$238 million, representing a 12.9% increase from 2022. Profits before taxes rose to US$104 million, marking a 28.8% increase from the previous year, while profits after taxes climbed to US$72 million, a 26.3% rise compared to 2022.

These results signify the company's highest revenue and profitability to date, showcasing Piraeus Port Authority's consistent performance improvement for the third consecutive year.

LIN Ji, Chairman of Piraeus Port Authority, stated, "Our Company's upward trajectory and improved financial results, notably for the third consecutive year, demonstrate that our strategies for port development and modernization, along with significant operational decisions, are heading in the right direction. They create the right conditions for establishing Piraeus as one of the top ports in the Mediterranean and Europe."

He continued, "The largest Greek port keeps delivering high-quality integrated port services, ensuring its industry reliability and competitiveness. Combined with our commitment to sustainable growth, environmental stewardship, and systematic contribution to society and future generations, we are laying solid foundations for a resilient port that creates benefits and, above all, value for everyone, both now and in the future."