Thessaloniki Port Authority reports significantly improved H1 results

The year 2017 is evolving into a landmark year for Thessaloniki Port Authority according to its management, as economic figures in the first half “strengthened estimates for the biggest increase in container traffic in the last decade and one of the biggest increases in the last five years for cargo traffic.”

The port authority on Friday said its turnover grew 32.07 pct in the January-June period compared with the same period last year to 27.9 million euros, while after tax profits jumped 76.8 pct to 9.8 million.

The container terminal reported a 29.33 pct increase in sales to 16.7 million euros, while other port activities reported a 37.98 pct increase to 10.2 million. Passenger traffic turnover grew 0.58 pct to 80,139 euros and commercial use turnover rose 23.24 pct to 849,748 euros.

Container traffic grew 32.7 pct to 188,306 TEUs. Cash reserves rose to 89.7 million euros at the end of June from 76.5 million last year, an increase of 17.23 pct. Gross profits jumped 58.59 pct to 14.5 million euros, EBITDA rose 46.69 pct to 15.1 million and pre-tax earnings jumped 53.86 pct to 13.7 million.

Thessaloniki Port Authority, in an announcement, said that completion of an international tender to sell 67 pct of the company’s shares to a consortium of Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd and Terminal Link SAS paved the way for investments worth 180 million euros over the next seven years.