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Thessaloniki Port Authority S.A. announces the voting results during the Annual General Meeting of the Company’s Shareholders that was held on 7th July 2017 at the hotel Hyatt Regency Thessaloniki where was attended in conformity by 13 shareholders, attending either in person or by proxy and representing 7.911.387 shares, i.e. 78,4859% of the Company’s paid-up share capital, as follows:

  1. Approved the Annual Financial Statements for the 17th fiscal year (01.01.2016 to 31.12.2016), accompanied by the Annual Management Report by the Board of Directors, the Independent Auditors’ Report and the Corporate Governance Statement.
  2. Approved the distribution of dividend to the company’s Shareholders which amounts to 0,49euro per share, which dividend is subject to 15% withholding tax, and therefore the net final amount payable will be 0,4165 euro per share. The cut-off date was set for 31th July 2017, the dividend beneficiaries "Record date" was set for 1st August 2017 and the dividend shall be paid on 4th August 2017.
  3. Approved the discharge of the members of the Board of Directors and of the Company’s Independent Auditors from all liability regarding the proceedings of the Company’s 17th fiscal year.    
  4. Approved the assignment of the Company’s regular audit for the current accounting period to the auditing firm “ERNST & YOUNG (GREECE) CHARTERED AUDITORS – ACCOUNTANTS S.A.” with a fee of 46.500€, having its registered office in Athens, Chimaras 8B, 15125 Marousi, with Company SOEL Reg. No.107.
  5. Approved the fees – remunerations paid to BoD members of the fiscal year 2016, and pre-approved their fees - remunerations that will paid during the next fiscal year.
  6. Elected as members of the Audit Committee:

Dimitrios Routos, Chairman of the Audit Committee, a retired bank employee with knowledge in auditing and accounting

George Toozidis, a retired bank employee

Christos Vogiatzis, Accountant Tax Consultant with A’ Class Degree in accounting

It also approved the consolidation of the two Audit Committees.

  1. Approved the expenditure for the repair of the patrol vessel (PLS 125), which is vital for the security of the Port of Thessaloniki and the implementation of the ISPS Code of up to 55,000€ plus V.A.T.
  1. The issue of the amendment of article 10 of the ThPA SA statute after the proposal of TAIPED, was not discussed and no decision was taken.
  2. Announcements

THPA S.A. announces during the Ordinary General Meeting of the Shareholders of the Company dated 7th of July 2017, the appointment of Mr. Constantinos Tsiapakidis as an independent non-executive member of the Board of Directors of ThPA SA. Mr. Constantinos Tsiapakidis was appointed as a new representative of the Municipality of Thessaloniki in replacement of the resigned Mr. Georgios Dimarelos for the remaining of his term.

ThPA SA announces that at the meeting of the company’s BoD, on 06/07/2017, a new representative of the Municipality of Thessaloniki was appointed Mr. Konstantinos Tsiapakidιs, Chairman of the Council of the 4th Municipal Community of the Municipality of Thessaloniki, in place of the resigned Mr. Georgios Dimarelos, for the remaining of his term.

Revised Invitation to the General Ordinary Shareholders' Meeting 2018 and related information

Invitation [pdf]

Related information [zip]

 

The HRADF announces the consortium comprising of «Deutsche Invest Equity Partners GmbH», «Belterra Investments Ltd.» and «Terminal Link SAS» is nominated Preferred Investor for the acquisition of the 67% share capital of ΤΗPA SA.

The relevant HRADF press release (www.hradf.com):

Athens, 06/19/2017

During its session today, the Board of Directors of HRADF unanimously declared the consortium comprising of «Deutsche Invest Equity Partners GmbH», «Belterra Investments Ltd.» and «Terminal Link SAS» as the Preferred Investor for the acquisition of the 67% of the shares of Thessaloniki Port Authority SA., in accordance with the terms of the tender process, having considered all the required documents on time submitted by the Highest Bidder.

The tender dossier will be submitted directly to the Court of Audit for pre-contractual control and the share sale contract will be signed after the approval of the Court.

The completion of the transaction is subject to the competent authorities’ approvals.

For more information and updates please refer to the Hellenic Republic Asset Development Fund's website (www.hradf.com).

Invitation to the General Ordinary Shareholders' Meeting 2017 and related information

Invitation [pdf]

Related information [zip]

ThPA SA CEO, Dr Dimitrios Makris presented Company’s Financial Results of fiscal year 2016 to financial analysts on Thursday 8th of June 2017.

Despite the particular difficulties faced in 2016, the company presented resilience, with turnover of 48.061.529 Euros compared to 50.881.605 Euros in 2015. Although, turnover recorded a decrease of 5.54%, rebounded significantly from the adverse effects of the negative developments in the first half of 2016. During this period, there were 32 consecutive days of strike and an additional 4 weeks’ abstention from working on weekends and overtime by port employees due to the privatization of the company. Furthermore, the railway connection to Skopje closed for 67 days causing serious problems for bulk and general cargo transportation. In addition, for approximately 20 days the road connection to Bulgaria was blocked making container transport impossible.

However, ThPA SA managed to maintain its market position in 2016, achieving high profitability ratio and presenting earnings, as a percentage of the turnover, among the highest of the ATHEX listed companies, with gross profit of 46,13%, EBITDA at 49,68%, earnings before taxes 43,86% and earnings after taxes to 29,31%.

Revenue by operating segment is distributed as follows: Container Terminal operations amounted to 30.602.483 Euros, corresponding to 63,67% of the total turnover, Conventional Port activities amounted to 15.629.672 Euros corresponding to 32,52% of the total turnover, 264.461 Euros for the Passengers Terminal representing 0,55% of the total turnover and 1.564.914 Euros for sites exploitation representing 3,26% of the total revenue.

ThPA SA, is a healthy company with zero lending. In 2016 there was a significant increase of the invested reserves by 29,69%, from 55.199.321 Euros to 71.586.788 Euros, with cash reserves amounting to 75.566.103 Euros.

The Company's dividend policy aims to satisfy the shareholders along with the creation of reserves for the financing of its investments. The proposed dividend of earnings for 2016 is 0,49 per share.

It was of particular importance the approval of the Master Plan of the Port of Thessaloniki by the company’s Board of Directors and its submission to Ports Planning and Development Committee (E.S.A.L.) of the Ministry of Marine and Island Policy, following consultation with the city's stakeholders. The Master Plan reflects the long-term planning of ThPA SA to increase capacity in order to serve larger vessels, to support entrepreneurship and interaction with the city. E.S.A.L. approved the Master Plan of Th.P.A S.A. at its meeting on 13.03.2017. At the same time, a 5-year Business Plan was approved.

The contribution of ThPA SA's management to the international tender procedure for the sale of 67% of the share capital of the company, stressed the role of Thessaloniki Port as a Gateway Port in Southeastern Europe. The announcement, on 24.04.2017, by HRADF of the association of “Deutsche Invest Equity Partners GmbH”, “Belterra Investments Ltd” and “Terminal Link SAS” as the bidder of the tender, indicates a new development phase at the Port, creating the conditions to upgrade the Port of Thessaloniki in favor of the national economy and employment.

Taking into account the total throughput of the first four (4) months of 2017, it becomes clear that ThPA SA achieved a total return to the cargo volumes handling. Container throughput is increased by 7,5% and Conventional cargo throughput is increased by 30.2%, with an upward trend for both segments for the first semester of 2017, compared to the same period of 2016. Current statistics result forecasts in the range of 360.000 TEUs for the Container Terminal and 4.000.000 tones for the Conventional Port. Based on the above data, it is estimated that 2017 will be the year with the highest throughput in the Container Terminal of the last ten years and the Conventional port throughput of the highest in the last five years.