Marine Link
Friday, December 15, 2017

Piraeus Port Posts 24% Increase In 2015 Profit

March 31, 2016

Photo: Piraeus Port Authority

Photo: Piraeus Port Authority

 The Piraeus Port Authority (PPA) has released its annual financial statement for 2015, showing post-tax profits of 23.8 percent.  

 
Earnings before taxes amounted to € 9.772.290,19 for the year ended 31.12.2015 against €8.891.464,98  in  2014 showing an increase of 9.91%.
 
Profit after tax amounted to € 8.375.754,17  compared to € 6.763.882,84 showing an increase of 23.83%. The gross profit showed an increase of 13.9% compared to 2014 from € 22.958.410,89 to € 26.150.566,01.
 
The President & CEO of PPA  John Kouvaris stated: "The PPA presents for another year a profitable financial use despite the ongoing economic crisis and realignments in the field of maritime transport, by reducing expenses, settling its obligations, while proceeds to the update of the provisions rationalizing its balance sheet”.
 
Turnover amounted to € 99.880.455 compared to € 104.320.264 showing a slight decrease of 4.26%. The decrease is due to lower stevedoring and warehousing operations at the Container Terminal and Car Terminal while the revenue from the concession of Piers II and III increased by € 3.6 mil. approximately.
 
Total operating expenses for the year showed a marginal decrease (0.06%) and amounted to € 100.884.600 compared with € 100.942.867 in 2014 and asset depreciation showed no significant change.
 
Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News