Greece's Piraeus port reports record turnover, profits in 2023

ATHENS, March 30 (Xinhua) -- Greece's Piraeus Port Authority S.A. (PPA), which runs the country's largest port, posted record-high turnover and profits in 2023, the company said.

Total revenues reached 219.8 million euros (237.13 million U.S. dollars), up 12.9 percent from 2022, according to a press statement released on Friday.

Pre-tax profits reached 96.2 million euros (103.9 million dollars), up 28.8 percent compared to the same period in 2022. Profits after taxes also rose significantly to 66.8 million euros (72 million dollars), up more than 26.3 percent compared with the previous fiscal year.

The proposed dividend per share also surged by 29 percent to 1.34 euros (1.45 dollars).

The results represent the highest performances in the company's history for both revenue and profitability, marking the third consecutive year of improvement, according to the statement.

The latest remarkable progress was attributed to impressive performance in such sectors as cruise, whose total passenger traffic amounted to 1,484,788 last fiscal year, a 68.6-percent increase from 2022. In the homeporting subcategory, passengers surged by 110.4 percent.

Moreover, there was a 12.4-percent increase in cruise ship calls, with 761 calls compared to 677 in the previous year.

The port's three container terminals maintained growth, with a 2-percent increase in total throughput to 5,100,920 twenty-foot equivalent units (TEUs), solidifying the port's position as the fourth top port in Europe, PPA said.

Yu Zenggang, PPA's chairman, said he was satisfied with the "continued upward financial trajectory."

More investments are planned to strengthen Piraeus's position as a leading port in the Mediterranean and Europe, he said.

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