The turnover of Piraeus Port Authority S.A (PPA S.A.) in 2018 amounted to 132.9 million euros (149 million U.S. dollars) compared to 111.5 million euros in 2017, an increase of 19.2%.
Profit before tax amounted to 42.3 million euros, up from 21.2 million euros in 2017, an increase of 100%, according to Xinhua news agency.
The net result is improved by 147% to 27.9 million euros compared to 11.3 million euros in 2017, PPA S.A added.
The company will also pay 4.8 million euros concession fees to the Greek state for the year 2018, in comparison to 4.1 million euros in 2017.
China Cosco Shipping has acquired the majority of PPA S.A. shares in 2016. The concession agreement expires in 2052. The Chinese company’s subsidiary PCT has also managed the port’s container terminal since 2009.
In addition, during the first three months of 2019, the under-concession Piers II and III, achieved a new record handling 1.25 million TEU.
What is more, cruise showed an increase of 20$ in ships’ calls for 2019, while the ship repair activity has been increased by 53%.