PRESS RELEASE
PPA S.A.: Annual General Meeting of Shareholders concludes
Approval of the highest in its history dividend distribution of 1.34 euros (gross) per share
04 July 2024. Piraeus Port Authority S.A. announces that its Annual General Meeting of shareholders was successfully held today via teleconference, following the prescribed procedures and achieving a quorum of 81.28%. During the meeting, shareholders were briefed on the Company's progress and current developments, questions were answered and positive comments were made for the Company’s excellent financial performance despite the difficult situations.
It is noted that all items on the agenda were approved by a majority vote, including the Annual Financial Statements and the Dividend Distribution for the Company's shareholders for the fiscal year 2023 (from January 1, 2023, to December 31, 2023). The gross dividend amount, as proposed by the Board of Directors, was set at 1.34 euros per share, reflecting a 29% increase compared to 2022.
Key highlights from the Annual Financial Report for the year 2023: Total revenues of €219.8 million, marking an increase of 12.9% or €25.2 million from €194.6 million in 2022. Profits before taxes rose to €96.2 million, up by 28.8% from €74.7 million in 2022, while Profits after taxes increased to €66.8 million, a 26.3% rise compared to €52.9 million in 2022.
The figures above constitute the Company's highest achievements to date in terms of revenue and profitability, underscoring Piraeus Port Authority S.A.'s continual improvement in historical performance for the third consecutive year.
The Chairman of Piraeus Port Authority S.A., Mr. LIN Ji, who led the General Assembly, thanked the shareholders for their trust, as well as the Company’s Management and employees for their continuous effort. He noted: "Our Company's upward trajectory and improved financial results, notably for the third consecutive year, demonstrate that our strategies for port development and modernization, along with significant operational decisions, are heading in the right direction. They create the right conditions for establishing Piraeus as one of the top ports in the Mediterranean and Europe. The largest Greek port keep delivering high quality integrated port services, ensuring its industry reliability and competitiveness. Combined with our commitment to sustainable growth, environmental stewardship, and systematic contribution to society and future generations, we are laying solid foundations for a resilient port that creates benefits and, above all, value for everyone, both now and in the future".
