Port of Thessaloniki container throughput increased by 2,2% to 471k TEUs in 2021
The annual Consolidated Financial Statements for 2021, released for the first time for ThPA S.A. (“ThPA”), include the 100% subsidiary "ThPA Sofia EAD" (“ThPA Sofia”), which was established in November 2020, according to the company's release.
Regarding Company (ThPA) financials, revenue growth in 2021 reached € 5,2mil. (7,2% increase), from € 71,7mil. in 2020 to € 76,9mil. in 2021, with € 1,3mil. additional revenues from the container terminal, an increase of 2,7% and € 3,3mil. additional revenues from the conventional cargo terminal, an increase of 16,3%, mainly due to increased cargo volumes in those two sectors.
Also, an increase was posted from the development of real estate spaces with € 0,3mil. additional revenue, reaching an increase of 20,2% and € 0,2mil. additional revenue from the passenger terminal, posting an increase of 110,5%. Specifically for cruise ships, it is noted that seventeen arrivals were posted in 2021, compared to one arrival in 2020.
Regarding profitability, the Gross Profit of ThPA S.A. increased from € 33,9mil. in 2020 to € 37,0mil. in 2021, representing an increase of 9%.
Operating Profits (EBITDA) also increased from € 30,9mil. in 2020, to € 34,7mil. in 2021, representing an increase of 12,3%, primarily due to the increased volumes handled.
Net Profit after taxes increased from € 20,1mil. in 2020, to € 21,1mil. in 2021, an increase of 5%.
Container throughput increased by a total of 2,2%, from 461k TEUs in 2020, to 471k TEUs in 2021 (of which 8k TEUs were transported by rail between Thessaloniki and Sofia). During the same period, the volume of conventional cargo handled increased significantly by 13,3%, from 3.714k tons to 4.236k tons respectively, mainly due to the volume increases of nickel and coal. Vessel calls increased by a total of 7,1% from 1.286 in 2020 to 1.377 in 2021, including container, conventional cargo and passenger vessels.
The capital expenditure program for 2021 amounted to € 17,4mil., compared to € 8,1mil. in 2020 mainly attributed to the investments in the upgrade of the Port's facilities and infrastructure, the purchase of new loading and unloading equipment and the advance payments for the purchase of two new cranes (STS), to be fully operational in July 2022.
The proposed dividend per share amounts to € 1,50/share (vs € 1,42/share of previous year), subject to approval from the Annual General Meeting of 21st April 2022.