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Press Release 30.09.2020 – Increase in total revenues for the 1st half of 2020

The financial statements of the first half of 2020 were approved yesterday, Tuesday September 29 of 2020, by the BoD of ThPA S.A.

During the 1st semester of 2020, the total revenues of ThPA S.A. amounted to €34,29 mil. compared to €32,95 mil. in the 1st semester of 2019, showing an increase of 5,3%. This change is due to the additional revenues from the Container Terminal by €2,9 mil. (14,3%) and the reduction of revenues from the Conventional Cargo Terminal by €1,2 mil. (10,3%).

Total operating cost has increased by 12,3% from the 1st semester of 2019 to the 1st  semester of 2020. The increase of the operating costs relates to expenses arising from compensation to executives who resigned in accordance with the decisions of the Ordinary General Meeting on 30.06.2020. Also, in the framework of corporate social responsibility actions, the Company in support of the National Health system, donated €0,3 mil. to the reference hospital for COVID-19 in Thessaloniki “AHEPA” for the purchase of new medical equipment. Adjusting for these non-recurring items, as well as the impact of the new CLA’s effective from 1st of January 2020, the operating cost is on par with the cost of the 1st semester of 2019 and well below the operating cost of the 2nd semester of 2019.

Net Profits after tax were in line with H1 2019, showing a decrease of 2,4%, from €8,0 mil. in the 1st semester 2019, to €7,8 mil. in the 1st semester 2020.

The Executive Chairman of the BoD of THPA S.A., Athanasios Liagkos stated: «The fact that the total revenues of the Company showed an upward trend in the first half of 2020 is particularly positive, especially if one takes into account the challenges faced by the transport sector nationally and globally. We remain optimistic and focused on our strategic goal, which is none other than the development of the port of Thessaloniki and the implementation of our investment plan».