Cruise Segment Gives Boost to Piraeus Port’s Revenue

Photo source: Piraeus Port Authority (PPA)

The cruise segment gave a boost to the Piraeus Port Authority’s (PPA) revenue in first half of 2021, an announcement on Wednesday said.

More specifically, the PPA announced a turnover increase by 8,3 percent to 5.5 million euros in the first six months of the year, reaching 72 million euros compared to 66.5 million euros in same period in 2020.

According to the PPA, the important development was the result of an income increase in the cruise, car handling and coastal shipping segments by 175,1 percent or 1.2 million euros; 34,9 percent or 1.9 million euros; and 9,7 percent or 0.3 million euros, respectively.

Photo source: Piraeus Port Authority (PPA)

An additional increase of 5,7 percent or 1.8 million euros was due to the pier II and III concession.

Moreover, earnings before taxes in the first half of 2021 reached 20.84 million euros against 20.85 million euros in the same period in 2020. Earnings after taxes reached 15.1 million euros against 15.5 million euros in the same half year period in 2020.

Satisfied with the financial results of the first half 2021, the port authority’s chairman, Yu Zenggang, said the continuous increase of turnover, despite the significant difficulties due to the Covid-19 pandemic, “proves once again that PPA S.A. is a company building on a solid and a strong basis”.

He added that the PPA continues to carry out its strategic plan for Piraeus Port with the same dedication and high sense of responsibility, while “already ranking in the first places among the best ports in the Mediterranean and Europe”.