The total revenue of the Piraeus Port Authority (PPA SA) is expected to increase by 8.2% (121.9 million Euros) in 2013, despite the ongoing international financial crisis in the area of shipping and the recession of the Greek economy.
Based on the "Income Budget Statement 2013", adopted by the Board of PPA SA, the main factors that play a dominant role in the growth of the company’s turnover are the increase by 42.8% of the Container Terminal revenue and the continuous reduction of costs (2.5% from the general and 9.2% from personnel), despite the increase in prices of consumables and the maintenance of the port.
The operating result of 2013 is expected to reach 13.8 million while total earnings before taxes are expected to amount to 13.300.000 Euro.
As the President and CEO of PPA George Anomeritis said: “After the losses of 2009 because of strikes and the economical crisis, PPA SA will show profits for the fourth consecutive year (2010-2013), with no more internal friction and with stable growth, not only in the container terminal the but also in the cruise sector and the car terminals. PPA SA expects to reap significant gains over the next years by a new reform process of the port system in the country, through wider co-operations and new investment concessions within the European institutional framework for the operation of the port market.”