Piraeus Port Authority (PPA) Q3 2024 earnings summary

Executive summary

• Achieved record revenue and profits in Q3 2024, reflecting successful management strategies amid ongoing challenges.

• Maintained strong liquidity and financial strength, with effective expense management supporting profitability.

Financial highlights

• Q3 2024 revenue rose 9.0% year-over-year to €67.9m; YTD revenue up 6.2% to €174.9m.

• Q3 2024 net income (EAT) increased 9.6% year-over-year to €29.8m; YTD net income up 6.6% to €70.2m.

• EBITDA for Q3 2024 grew 6.1% year-over-year to €41.9m; YTD EBITDA up 3.4% to €103.3m.

• Shareholders’ equity increased 10.4% year-over-year to €391.9m as of September 30, 2024.

Outlook and guidance

• Continued growth expected, supported by strong performance in cruise, container, and car terminal segments.

• Management remains focused on cost control and investment in strategic opportunities.