Piraeus Port Authority (PPA)’s profits showed significant improvement in the first quarter of 2025, compared to the first quarter of 2024, while the company’s operating sectors also recorded positive results, despite the full repayment of (bank) loan obligations totaling 26.5 million euros.
In the first quarter of the year ending 31/3/2025, revenues rose 14.6% to 51.5 million euros, compared to 45 million euros in the same period of 2024.
Profits after taxes also rose 23% to 17 million euros in the first quarter of 2025, compared to 13.8 million euros in the corresponding period of 2024.
EBITDA stood at 25.9 million euros in the first quarter of 2025, up 14.2%, compared to 22.7 million euros in the same period.
Increase in most operating sectors
The increase in the Container Terminal was particularly positive, where +53.0% in total cargo service was recorded.
This upward trend is supported both by the course of domestic cargo, which is up by +16.2% compared to the corresponding first quarter of the previous year (from 54,791 to 63,689 TEUs), boosted by the Greek economic growth rates, and the impressive increase in transshipment cargo, compared to the corresponding first quarter of the previous year (+80.6%, from 73,235 to 132,248 TEUs).
The cruise sector, with Piraeus now established as a leading cruise port in the Mediterranean, continues its upward trend, due both to the increase in the number of homeport cruise passengers by 22% compared to the corresponding first quarter of the previous year (from 32,102 to 39,165 passengers), and to the number of cruise passengers who used the port of Piraeus as an intermediate station +26.9% compared to the corresponding period last year (from 22,887 to 29,035 passengers).
The coastal shipping sector also recorded an increase, following the positive trend of the Greek market and Greek tourism.
In total, 2,659,832 million passengers were transported through the port of Piraeus in the first quarter of 2025, compared to 2,632,794 in the same period in 2024.
The car terminal recorded a marginal increase in total cargo by +1.5% compared to the corresponding period last year (from 68,426 to 69,420 vehicles), mainly due to the increase in transshipment vehicles by +12.9% (from 28,210 to 31,836 vehicles).
Regarding the movement of domestic cargo, despite their overall downward trend, it rose 41.6% (from 11,758 to 16,645 vehicles) in March 2025 compared to March 2024.
