Piraeus Port Authority Reports Record-Setting Results in 2023

The Piraeus Port Authority (PPA) on Friday released 2023 results, which showed revenue and profits reaching record levels during the year, while passenger traffic emanating from both cruises and coastal shipping were also higher, year-to-year.

Specifically, the Cosco-controlled and majority owned PPA said revenues reached 219.8 million euros, up 12.9% from 2022 (194.6 million euros). Pre-tax profits reached 96.2 million euros, compared to 74.7 million euros in 2022, an increase of 28.8%. After-tax profits rose to 66.8 euros, up from 52.9 million euros in 2022, a 26.3% hike.

The ATHEX-listed company proposed a dividend of 1.34 euros per share for the 2023 results, up from 1.04 euros in 2022. The results represent the best performances in the port operator’s history in terms of revenue and profitability, and the third consecutive year of higher results.

Total passenger traffic totaled more than 1.484 million in 2023, compared to nearly 880,000 in 2022, a 68.6% increase. Additionally, the number of cruise ship arrivals was up by 12.4%, with 761 port calls compared to 677 in 2022.