PPA SA has reported its financial results for the first quarter of 2025, demonstrating impressive growth despite ongoing economic challenges. The company is maintaining a strong upward trajectory, showcasing significant improvements in revenue, a focus on cost management, and enhanced profitability indicators. Noteworthy achievements are evident in their robust liquidity, particularly after the repayment of bank loans totaling €26.5 million.
One of the key highlights for the first quarter is the promising growth across various segments of the company’s operations. Revenue continues to rise, bolstered by contributions from the Container Terminal (Pier 1), Cruise, and Ferry Terminal sectors, as well as increased earnings from the concession of Piers II & III. This growth reflects both improved operational performance and the company’s strategic cost management practices, which have effectively navigated the inflationary pressures in the economy.
The data shows marked increases in throughput across most operational sectors when compared to the same period in 2024. The Container Terminal, in particular, saw a remarkable 53% increase in total cargo services, driven largely by a 16.2% uptick in domestic cargo and an extraordinary 80.6% rise in transshipment cargo volumes. In addition, the Cruise sector is thriving, achieving a 22% increase in homeport cruise passengers and a 26.9% increase in transit passengers.
The Ferry sector also recorded positive trends, benefiting from the revival of the Greek tourism market. However, the Car Terminal experienced only marginal growth due to the normalization of supply chain issues, which previously inflated revenue from storage fees. On a financial note, the company completely repaid its bank loans, eliminating interest rate risk and enhancing its strong cash position.
Despite a slight dip in financial income attributed to lower deposit interest rates, PPA SA remains committed to its investment strategy, having allocated €16.1 million in the quarter, up from €3.8 million in the same period last year. This demonstrates PPA’s confidence in sustained growth and operational resilience.