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THPA S.A. announces during the Ordinary General Meeting of the Shareholders of the Company dated 10th  of June  2016, the election of Mr. Aggelou Vlachou, Mr. Panagioti Kardara and Mr. Dimitriou Bika as a new members of the Board of Directors - during the Board Meetings 6278 dated 01.07.15 and 6378 dated 23.10.15- in replacement of the resigned members Mr. Alexandrou Chlorou, Mr Anastasiou Kardara and Mr George Lazaridi.
Also at the same meeting ratified the appointment of Mr . Konstantinos Karoulis as independent non- executive member of the Board.

Invitation to the General Ordinary Shareholders' Meeting 2016 and related information

Invitation [pdf]

Related information [zip]

The Board of OLTH SA approved today 31/03/2016 the Financial Report for the period of 1/1/2015-31/12/2015.

  • The company’s turnover at the period of 01/01/2015 to 31/12/2015 amounted to 50.881.605€ against 54.831.478€ at the same period in 2014, exhibiting a decrease by 7,20%, which is mainly due to the reduction of conventional port sales by 17,16%
  • Container Terminal handled 351.741 containers (TEU’s), throughput increased by 0,50% at the period of 01/01/2015 to 31/12/2015, against   the same period in 2014.
  • The reduction of trafficking in conventional cargo, mainly in the second half of 2015, by 15,34 % due to the sharp drop in international prices of minerals, such as nickel , and the sharp drop in demand for steel products, which brought the suspension of operation of a large steel industry, which was major customer of the company.
  • In the context of the adverse economic environment and despite the bank holiday imposed on the country on 28.06.2015, the Company continued to perform trouble-free operations.
  • The income from exploiting the company's capital decreased by 47,11% due to the sharp decline in interest rates over 50%
  • The Company successfully continued its policy of restricting costs which fell by 3,20%.
  • The Company despite the negative development of trafficking of Conventional cargo and the significant decrease in financial income maintain high profitability indicators. Specifically:
  • Gross profit amounted to 24.333.039€ against 26.529.142€  in 2014(-8,28%).
  • The operating profit (EBITDA) at the period of 01/01/2015 to 31/12/2015 amounted to 26.861.416€ against 29.424.347€ in 2014 (-8,71%).
  • Earnings before taxes amounted to 24.514.352€ against 28.388.514€ in 2014 (-13,65%), while after-tax results amounted to 17.915.016€ against 21.300.404€ in 2014 (-15,89%), which is attributed to the increase of the tax rate.
  • Profits remain high as a percentage of the total turnover with gross profit amount to 47,82%, operational profit to 52,79%,profit before taxes to 48,18% and profit after taxes to 35,21%.

 

THPA SA CHIEF EXECUTIVE OFFICER DIMITRIOS MAKRIS STATEMENT
ThPA SA despite the adverse economic climate of 2015, that  negatively affected the movement of Conventional cargo, remains a highly profitable company for its shareholders, with strong profitability indicators. Implemented a major investment program to modernize equipment and infrastructure to service the load. With the cooperation of management and employees the company is able to continuously improve its services to its customers and to implement its ambitious development planning.

THPA S.A. announces that at the meeting of the company’s BoD on 17/12/2015, appointed by the the Economic and Social Council of Greece (E.S.C.) as the representative of BoD, Mr Konstantinos Karoulis as independent non-executive member.

THPA sa announces that Mr. Gavriil  Kokkinos was appointed as Internal Auditor of the Company since 01/12/2015 (Company's Board of Directors 6410/20.11.2015 decision).

The Board of OLTH SA approved today 27/11/2015 the Financial Report for the period of 1/1/2015-30/9/2015.

 

  • The company’s turnover at the period of 01/01/2015 to 30/09/2015 amounted to 38,111,535€ against 39,897,608€ at the same period in 2014, exhibiting a decrease by 4.48%, attributed to the decrease of the sales in operational sectors (Container Terminal by 1.08% and Conventional port by 9.62%), the sales at Exploitation of premises by 4.79% and   the sales at Passengers Traffic by 7.73%.
  • Container Terminal handled 252,127 containers (TEU’s), throughput increased by 1.03% at the period of 01/01/2015 to 30/09/2015, against   the same period in 2014.
  • Dry bulk cargo decreased slightly by 1.57%, due to the decrease of international prices in products as nickel and the decrease of cement production of the industries in the region
  • Conventional cargo was decreased by 6.07% due to the decrease in metallurgical products demand and the shutdown of a large steel industry, which was major customer of the company.
  •  
  • Total revenues decreased by 6.41% against the same period in 2014, due to the decrease of sales and the reduction of financial income by 45.42% due to the significant drop in interest rates on invested assets of the company.
  • Total expenses decreased by 2.09% against the same period in 2014, mainly by reducing the personnel wages and expenses by 5.28%.
  • Gross profit amounted to 18,383,975€ against 18,995,289€  in 2014 (-3.22%).
  • The operating profit (EBITDA) at the period of 01/01/2015 to 30/09/2015 amounted to 20,315,627€ against 21,664,422 € in 2014 (-6.23%).
  • Earnings before taxes amounted to 18,686,655€ against 21,038,703€ in 2014 (-11.18%), while after-tax results amounted to 13,527,477€ against 15,838,566€ in 2014 (-14.59%).
  • Profits remain high as a percentage of the total turnover with gross profit amount to 48.24%, operational profit to 53.31%,profit before taxes to 49.03% and profit after taxes to 35.49%.