The Piraeus Port Authority (PPA) has announced its unaudited financial results for the first nine months of 2025, showing continued positive performance and growth.
Revenue for the period from January 1 to September 30, 2025, increased by 11.3 per cent year-on-year, reaching €194.7 million ($225.1 million) compared to €174.9 million in the same period of 2024.
Profits after tax for the nine-month period rose by 8.3 per cent to €76 million, up from €70.2 million last year. EBITDA saw an eight per cent increase, amounting to €111.5 million.
The authority highlighted that this growth was achieved despite significant cash outlays during the period, including the full repayment of bank loan obligations totalling €26.5 million and the payment of 2024 dividends amounting to €48 million.
For the third quarter of 2025 alone, revenue increased by 6.0 per cent to €72.0 million. However, profits after tax for the quarter saw a slight decrease of 1.5 per cent, totalling €29.3 million.
The strong nine-month results were primarily driven by growth in the container terminal (Pier I) and the cruise sector, as well as increased concession revenue from Piers II & III. This growth offset reduced revenues from the car terminal, coastal shipping, and the ship repair zone.
The container terminal at Pier I was a standout performer, with a 32 per cent increase in total throughput, supported by a 15.3 per cent rise in local cargo and a 44.1 per cent jump in transshipment volumes.
The cruise sector also continued its upward trend, with total passengers increasing by 12.9 per cent to 1.56 million.
Despite a 19.8 per cent increase in total vehicle throughput at the car terminal, revenues for that segment declined. The company attributed this to the "normalisation" of vehicle storage times, which had previously been significantly longer, providing high storage fee revenue in 2024.
Revenue from coastal shipping was impacted by a 50 per cent reduction in fees implemented on May 1, 2025, in line with a Ministry of Shipping policy.
Source: Bairmaritime
