PRESS RELEASE
PPA S.A.: Strong performance in the first half of 2023, with a significant increase in profitability and turnover
27 September 2023. In the first half of the fiscal year 2023, PPA S.A. reported a continued robust increase of profits and income, achieving the new highest performance in its history. More specifically, there was an increase of 48.8% in profits before taxes, totaling €49.4 million, compared to €33.2 million in the same period of 2022. Profits after taxes reached €38.7 million, compared to €25.9 million in the corresponding period of 2022, marking a positive change of 49.6%. PPA S.A. also achieved a significant increase of 10.0% in its turnover during the first half of 2023, which reached €102.4 million.
This renewed growth in turnover was attributed to increased revenue across all sectors of PPA S.A.'s activities. Especially it was driven by the cruise sector where approximately double number of passengers transported compared to the corresponding period of the previous year. Additionally, there was an increase in container handling in the total three (3) Piers of the port, despite the challenges currently facing the transport sector.
Mr. Yu Zenggang, Chairman of PPA S.A., expressed his satisfaction with the renewed positive financial results of the port and the strong start of the fiscal year 2023. He underscored that the unwavering dedication to achieving a balanced growth and continuously improving services across all port sectors has consistently played a pivotal role in driving these positive financial results, firmly establishing the port as comprehensive, high-quality, and highly competitive.
