Piraeus port sees strong financial results in 2022 first half

Piraeus Port Authority S.A. reported a significant 29.3% turnover increase for the first half of 2022, amounting to €93.1 million (US$90.9 million).

The net turnover growth was a result of an increase in revenues in all port activities during the first six months of the year.

Especially, the cruise business sector recorded an increase in revenue of 182.1%, while the container handling sector (Pier I) recorded an increase in revenue of 53.6% and it is profitable for the first time in its history.

"The continuous growth demonstrates in the most obvious way the strong potential of the strategy and the large-scale projects that are implemented systematically and at a fast pace. The Port’s growth is in no way accidental but is the result of the suitable planning and execution aiming at securing the port’s long-term position among the most important ports in the world," commented Piraeus Port Authority in a statement.

During the first half of the financial year 2022, PPA S.A. also recorded an increase of 59% in the earnings before taxes, amounting to €33.2 million (US$32.4 million), and an increase of 72% in the earnings after taxes, amounting to €25.9 million (US$25.3 million).

PPA S.A. chairman, Yu Zenggang expressed his satisfaction with the financial results of the first half of 2022, commenting, "The growth strategy of the Port of Piraeus, which we systematically implement on the basis of a comprehensive and a sustainable development plan, directly impacting in the most positive way the port business activities, the local communities and the country overall, leads to excellent performance while creating the proper conditions for the company’s stability and resilience."

Original Source: CONTAINER NEWS