Port of Piraeus increases revenue and profits in H1 2024
Port of Piraeus recorded a new increase in revenue and profits for the First Half of 2024, achieving once again the best performance in its history for this period. Specifically, total revenue for the first half reached €107.1 million, up from €102.4 million in the same period of 2023, marking an increase of €4.7 million or 4.6%, according to PPA S.A.'s release.
This growth was primarily driven by significant increases in revenue from the car handling sector (up 59,9%), the cruise sector (up 13.2%), and the container sector (up 4.0%), contributing approximately €6.2 million, €1.2 million, and €0.9 million, respectively. Additionally, pre-tax profits rose by 7.3% reaching €53.0 million compared to €49.4 million in the same period of 2023. After-tax profits also saw a positive change, increasing by 4.4% to €40.4 million from €38.7 million in the first half of 2023.
The Chairman of PPA S.A., Mr. Lin Ji, expressed satisfaction with the company's increased revenue and profits in the first half of 2024. He remarked: "Instability and the challenging geopolitical conditions in the Middle East persist. However, our company and the Port of Piraeus continued to achieve strong results, sustaining our upward momentum, as we have consistently done over time. This is a clear testament to the soundness of our strategy and the dedicated efforts that have ensured the Port’s reliability and, above all, its resilience.”
