Piraeus, 29.05.2015
PRESS RELEASE
Profitable 1st Quarter 2015 in PPA S.A.
PPA SA BoD approved the interim financial statements of the quarter January - March 2015 in accordance with international financial reporting standards.
Despite reducing turnover by 6.16% due to the technical problems of the Pier I, gross profit amounted to Euro 3,126,898 against Euro 2,806,123 for the corresponding period of 2014.
Operating expenses decreased by 6.73%, while other expenses decreased 71.22%. The consumptions of spare parts decreased by 40.61% and depreciation by 1.20%.
Earnings before taxes amounted to € 528,073 compared to € 658,068 in 2014, while net profit after tax € 726,061 against € 1,036,002 of 2014.
Cash and cash equivalents of the Organization increased from € 55,283,017 to € 56,297,333.
