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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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