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Port of Thessaloniki achieves growth in both operational and financial results

During the first half of the year, the Thessaloniki Port Authority SA (ThPA) has marked an overall growth in revenues, mainly driven by the increased volumes handled both at the container terminal (CΤ) and the conventional cargo terminal (CCΤ).

In particular, the Greek port has noted a year-on-year increase of 6.8% in total revenues which amounted to US$43.3 million during the first six months of the year, while the port's Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) also rose by 15.1% to US$18.7 million.

During the same period, gross profits recorded US$20.5 million, representing a total increase of 14,6% over H1 2020, while the gross margin ratio elevated to 47.1% as a result of improved revenues, productivity improvements and increased cost-efficiency, according to the port's statement.

In the meantime, the container volumes handled in Port of Thessaloniki reached 235,000 TEU during the first six months, representing a growth of 8.1% compared to the corresponding period of 2020.

Furthermore, net profits after tax were more than US$10.4 million, showing an increase of 13.3% in the first semester of the year.

Last but not least, the capital expenditure plan for this period exceeded US$13.8 million and was mainly related to the prepayments for the purchase of two large ship-to-shore (STS) cranes.

Additional significant capital expenditures are expected towards the end of the year, in combination with the planning and study for the expansion of pier six, which has passed to the final phase of the selection of the contractor.

"The fact that the total revenues of the company showed an upward trend in the first half of 2021 is rather positive, especially considering the challenges faced within the transport sector, at a national and at a global level," stated the executive chairman of the board of diectors of ThPA SA, Athanasios Liagkos.

Thessaloniki Port Authority's financial results, including its subsidiary ThPA Sofia EAD, were as follows: EBITDA reached almost US$18 million, consolidated net earnings after taxes completed US$9.5 million and consolidated revenues reached US$43.8 million, while ThPA Sofia’s revenues alone approached US$470,000.

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