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Home Port News Piraeus enjoys strong 2019 financial results

Piraeus enjoys strong 2019 financial results

The Board of Directors of Piraeus Port Authority approved the annual financial results 2019 which saw revenues increase by 12.3% to US$161.4 million (€ 149.2 million) compared to US$143.8 million (€ 132.9 million) in the period of 2018.

The port authority said this change is mainly a result of the revenue increase from the concession fee by 17.1%, which translated to US$10.4 million (€ 9.6 million).

The profit before tax amounted to US$51.5 million (€47.6 million) compared to US$45.8 million (€42.3 million) in the year 2018, showing an increase of around 12.5% and the net profit is increased by 27% to  US$38.3 million (€35.4 million) compared to US$30.2 million (€27.9 million) of the year 2018.

Also, PPA S.A. will pay US$5.8 million (€5.4 million) concession fee to the Greek State for the year 2019 compared to US$5.2 million (€4.8 million) in 2018.

A significant increase 32% was also recorded in cash amounted US$115.4 million (€106.7 million) compared to US$87.5 million (€80.9 million) in 2018.

The proposed dividend per share is US$0.58 (€ 0.5388) compared to US$0.46 (€ 0.4240) in 2018 (an increase of 27 %).

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