PPA's first quarter results are improved compared to the corresponding period of 2023, a year in which it achieved record performance. According to the company's announcement, net profit stood at €13.878 million, an increase of 6.9%. EBITDA reached €22.734 million, an increase of 1.7%. Revenues amounted to €45.023 million, up 2.5% from the same period last year, thanks in particular to the operating segments of the Car Terminal, Pier I Container Terminal, and Cruise.
PPA: Net profit up to 13.9 million in Q1-1
The company said its first quarter results continue the upward trend of previous quarters, reinforcing the Company's continued growth and rewarding management's plan.
- Revenue strengthening + 2.5% YoY
- Efficient management of expenses
- Improvement in its profitability ratios while maintaining its financial strength and high liquidity
Despite the significant pressures brought on by global volatility, revenues continued their upward trend from the previous period with the help of the operating segments of the Motor Terminal, Pier I Container Terminal, and Cruise. The primary driver of this upward trend is the overall upward trend of the Greek economy, as evidenced by the distinct trajectory transhipment cargoes—both in the automotive and container industries—follow when compared to those serving the domestic market, as well as the remarkable performance of the cruise industry in the post-COVID era.
The improved results and profitability margins reflect not only the improved revenue performance but also the effective cost management policy implemented by the Company's management, which maintains it at an optimal level despite the ongoing challenges of the energy crisis and the general inflationary economic environment.
