8.9 C
Shanghai
Monday, April 6, 2020
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 %).

- Advertisment -your ad here

Latest Posts

MABUX bunker index – 3 April

The members of Organization of the Petroleum Exporting Countries (OPEC) have not achieved to agree on an emergency low-level meeting to discuss a market...

Konecranes receives reach stackers record-order

Konecranes won its largest-ever reach stacker contract, for 39 units,from German distributor Richter Fördertechnik GmbH & Co. KG, in March 2020. Deliveries for the Konecranes...

MSC suggests short sea shipping solution

MSC says its short sea services in Europe can help meet any present and future domestic and foreign trade demands, especially as Covid-19 crisis...

Major shipping carriers update schedules due to pandemic crisis

The largest container shipping companies continue to update their schedules, as they are forced to make service adjustments and omit many sailings. As the coronavirus...

Wuhan’s container ports return to normal operations

Container ports in the Chinese city of Wuhan have fully resumed operations, as movement restrictions are gradually lifted in the original Covid-19 epicentre. Wuhan International...