On May 25^th, 2020, the Board of Directors of ThPA S.A. approved the Annual Financial Report for the Fiscal Year 2019, presenting the following highlights:

(€ '000) 2019 2018* Variation (%) Financials       Total Revenue, hereof: 68.981 58.535 17,8% Container Terminal 44.681 37.930 17,8% Conventional Cargo Terminal 22.286 18.896 17,9% Facilities Rentals 1.871 1.485 26,0% Passenger Traffic 143 223 -35,9%         Gross Profit 32.204 27.473 17,2% Gross Profit Ratio (%) 46,7% 46,9%           EBITDA 29.748 28.955 2,7% EBITDA Ratio (%) 43,1% 49,5%           Net Profit after tax 16.452 16.399 0,3% Profit Ratio (%) 23,9% 28,0%   *The comparative period of 2018 has been restated applying the full retrospective approach of IFRS 16

The 2019 financial performance of ThPA S.A was based on the following activity levels:

	2019	2018	Variation (%)
Volumes
Container Terminal (TEUs)	448.765	424.500	5,7%
Conventional Cargo Terminal (Tons)	4.469.034	3.755.102	19,0%
Vessel calls, hereof:	1.347	1.404	-4,1%
Container vessels	463	492	-5,9%
Conventional cargo vessels	832	752	10,6%
Passenger vessels	52	160	-67,5%

In 2019, the overall activity level of the Port increased - for another year - leading to increased revenues and operational profits over 2018.

The Container Terminal throughput increased by 5,7% over the previous year, from 424.500 TEUs in 2018 to 448.765 TEUs in 2019, a result primarily driven by:

• import/export volumes, from 363.138 TEUs in 2018 to 379.256 TEUs in 2019, representing an increase of 4,4%,
• transit volumes from 60.637 TEUs in 2018 to 69.113 TEUs in 2019, representing a notable increase of 14%.

The Conventional Port volumes significantly increased by 19% over the previous year, with an improved cargo mix, lifting the Container Port revenues by 17,9%, from €18,9 million in 2018 to €22,3 million in 2019.

Revenues from rental of facilities posted a significant increase also by 26%, from €1,49 million in 2018 to €1,87 million in 2019, while passenger traffic remained largely at the same levels as in the previous year.

Gross Profit increased from €27,47 million in 2018 (€27,1 million prior the IFRS 16 restatement for 2018) to €32,2 million in 2019, representing a total increase of 17,8%. The increase, as in last year, is not only due to increased activity levels, but also due to an improvement of operational efficiencies in both the Container Terminal and the Conventional Port, keeping the Gross Profit Ratio at almost the same levels (46,9% in 2018 and 46,7% in 2019).

Finally, Net Profits after tax increased by 0,3%, from €16,4 million in 2018  to €16,45 million in 2019, forming the Net Profit Ratio from 28% in 2018 to 24% in 2019. Net profits were primarily influenced by two main factors: the gradual implementation of the new management structure that is expected to contribute to the further development of the Company in the following years, and the full year effect of IFRS 16.

Commenting on the financial results, the Chairman of the BoD and Managing Director of ThPA S.A., Sotirios Theofanis, stated: “The Company showed an upward trend in 2019, marking an increase at the throughput of containers and conventional cargo of 5,7% and 19% respectively, compared to 2018 and continues fully dedicated and committed to its planning and strategy, with the primary objective of establishing its position both in the domestic market and in the markets of neighboring countries, despite the difficulties caused by the spread of COVID-19 pandemic at international and domestic level”.

On May 25^th, 2020, the Board of Directors of ThPA S.A. approved the Annual Financial Report for the Fiscal Year 2019, presenting the following highlights:

(€ '000) 2019 2018* Variation (%) Financials       Total Revenue, hereof: 68.981 58.535 17,8% Container Terminal 44.681 37.930 17,8% Conventional Cargo Terminal 22.286 18.896 17,9% Facilities Rentals 1.871 1.485 26,0% Passenger Traffic 143 223 -35,9%         Gross Profit 32.204 27.473 17,2% Gross Profit Ratio (%) 46,7% 46,9%           EBITDA 29.748 28.955 2,7% EBITDA Ratio (%) 43,1% 49,5%           Net Profit after tax 16.452 16.399 0,3% Profit Ratio (%) 23,9% 28,0%   *The comparative period of 2018 has been restated applying the full retrospective approach of IFRS 16

The 2019 financial performance of ThPA S.A was based on the following activity levels:

	2019	2018	Variation (%)
Volumes
Container Terminal (TEUs)	448.765	424.500	5,7%
Conventional Cargo Terminal (Tons)	4.469.034	3.755.102	19,0%
Vessel calls, hereof:	1.347	1.404	-4,1%
Container vessels	463	492	-5,9%
Conventional cargo vessels	832	752	10,6%
Passenger vessels	52	160	-67,5%

In 2019, the overall activity level of the Port increased - for another year - leading to increased revenues and profits over 2018.

The Container Terminal throughput increased by 5,7% over the previous year, from 424.500 TEUs in 2018 to 448.765 TEUs in 2019, a result primarily driven by:

• import/export volumes, from 363.138 TEUs in 2018 to 379.256 TEUs in 2019, representing an increase of 4,4%,
• transit volumes from 60.637 TEUs in 2018 to 69.113 TEUs in 2019, representing a notable increase of 14%.

The Conventional Port volumes significantly increased by 19% over the previous year, with an improved cargo mix, lifting the Container Port revenues by 17,9%, from €18,9 million in 2018 to €22,3 million in 2019.

Revenues from rental of facilities posted a significant increase also by 26%, from €1,49 million in 2018 to €1,87 million in 2019, while passenger traffic remained largely at the same levels as in the previous year.

Gross Profit increased from €27,47 million in 2018 (€27,1 million prior the IFRS 16 restatement for 2018) to €32,2 million in 2019, representing a total increase of 17,8%. The increase, as in last year, is not only due to increased activity levels, but also due to an improvement of operational efficiencies in both the Container Terminal and the Conventional Port, keeping the Gross Profit Ratio at almost the same levels (46,9% in 2018 and 46,7% in 2019).

Finally, Net Profits after tax increased by 0,3%, from €16,4 million in 2018  to €16,45 million in 2019, forming the Net Profit Ratio from 28% in 2018 to 24% in 2019. Net profits were primarily influenced by two main factors: the gradual implementation of the new management structure that is expected to contribute to the further development of the Company in the following years, and the full year effect of IFRS 16.

Commenting on the financial results, the Chairman of the BoD and Managing Director of ThPA S.A., Sotirios Theofanis, stated: «The Company showed an upward trend in 2019, marking an increase at the throughput of containers and conventional cargo of 5,7% and 19% respectively, compared to 2018 and continues fully dedicated and committed to its planning and strategy, with the primary objective of establishing its position both in the domestic market and in the markets of neighboring countries, despite the difficulties caused by the spread of COVID-19 pandemic at international and domestic level.

In Thessaloniki on 20/05/2020, THPA S.A. and the Employees' Unions, after many months of consultations and negotiations, agreed and signed the Company Collective Labor Agreement (CLA) for the regulation of the terms of remuneration and employment of personnel from 01/01/2020 until 31/12/2021.

After the "privatization" of the company, the signature of both Company CLA’s with Federation of Greek Port Employees (OMYLE) from 20/05/2020 as well as with Federation of Greek Dockers (OFE) from 17/12/2019 for the Dockworkers , in combination with the application of the new General Staff Regulation, signal the convergence and the achievement of working peace, with the joint efforts of all, for the necessary institutional adjustments, and they constitute a significant milestone and a starting point for us, with a view to the challenges of the future and a vision for the development of the Port of Thessaloniki in modern times.

«Thessaloniki Port Authority S.A.» announces the Financial Calendar for the year 2020 in accordance with articles 4.1.2 and 4.1.3.15.1&2 of the Athens Exchange Rulebook:

• Publication of the annual financial statements of the Company, for the financial year 2019: Monday, 25 May 2020. The Annual Financial Report for the financial year 2019 will be released at the Company’s website www.thpa.gr as well as at the website of the Athens Stock Exchange www.athexgroup.gr.
• Presentation of the Company's financial results to analysts: Wednesday 03 June 2020.
• Annual General Shareholders Meeting: Tuesday 30 June 2020.
• Ex-dividend date: Monday 06 July 2020.
• Dividend beneficiaries for the financial year 2019 - "Record date": Tuesday 07 July 2020.
• The dividend payment will start on: Monday 13 July 2020.

The Company will issue a new announcement on the dividend payment procedure.

«TH.P.A. S.A.» reserves the right to change the above dates, following relevant prompt notification to the public.

ThPA S.A. focuses on providing an array of value-added ancillary services to its customers, creating an opportunity to further enhance customer relationships. From the 1st of May, an Equipment & Maintenance Repair (EMR) Facility has been launched in the field of the Container Terminal in the Port of Thessaloniki. The main scope of the new service includes one-stop-shop services primarily to reefer units, such as Pre-trip Inspection (PTI) and Malfunction Interventions, small repairs to all type of containers as well.
The team of ThPA S.A. seek to optimize productivity and efficiency at every handling point and is committed to offering competitive service and a best value proposition to its customers.

"Thessaloniki Port Authority S.A." announces that Mr. Ioannis V. Fetanis hereinafter is assigned as new Chief Commercial Officer (CCO), in the place of Mr. Rui Pinto who continues his main duties as Deputy Chief Executive Officer (Deputy CEO).