Piraeus, February 14th 2019
Double profits – Overdoubled dividend for PPA S.A.
The Board of Directors of PPA S.A. approved the Annual Financial Report 2018 according to which:
The revenues amounted to € 132.9 million compared to € 111.5 million in the period of 2017, showing an increase of 19.2%. This change is mainly due to the revenues increase from the concession fee by 27.8% or approximately by € 12.2 million and the revenues from the Container Terminal by 25.3% or approximately by € 5.1 million. A further increase in revenue was recorded in the Ro Ro terminal by 13.2% or € 1.6 million and in the ship repair sector by 37.4% or € 2.6 million.
The profit before tax amounted to € 42.3 million compared to € 21.2 million in the year 2017, showing an increase of around 100% and the net profit is increased by 147% to € 27.9 million compared to € 11.3 million of the year 2017.
Also, PPA S.A. will pay € 4.8 million concession fee to the Greek State for the year 2018 compared to € 4.1 million in 2017.
A significant increase was also recorded in cash amounted € 80.9 million compared to € 61.9 million in 2017.
The proposed dividend per share is € 0.424 compared to € 0.1712 in 2017 (an increase of 148%).
As the CEO of PPA S.A. Captain Fu Chengqiu stated:
"The year 2018 was the most successful year for PPA S.A. in terms of profitability. All the business units are constantly improving the quality of services provided and their financial results. We expect in a short term period to have the necessary approvals from the Greek state in order to accelerate the implementation of the investments, which, as shown by the present results also, are creating added value and long-term benefits for shareholders, employees, local communities and the stakeholders of PPA S.A."