Piraeus Port Authority reports higher profits, turnover in 2017

Tuesday, 13 February 2018 19:38
ΑΠΕ-ΜΠΕ/Παντελής Σαίτας

Turnover by the Piraeus Port Authority (OLP) reached 111.5 million euros in 2017, up from 103.5 million euros the previous year (+7.7 percent), when Greece’s largest and busiest port passed into the hands of Chinese multinational Cosco.

The most noteworthy hike was recorded by the container terminal, which increased turnover by seven million euros – up 53.1 percent over 2016. Container traffic, in absolute terms, reached 453,264 TEU, significantly up from 265,716 TEU in 2016, an increase of 70.6 percent.

Revenue from concession for piers II and III was up by 3.4 million euros, or 8.4 percent.

Pre-tax profits reached 21.2 million euros, up from 11 million in 2016, an increase of 92 percent, while net profits were up by 68.6 percent – 11.3 million euros from 6.7 million in 2016.