Banner 1

News

On April 30, 2019 the Board of Directors of ThPA S.A. approved the Annual Financial Report for the Fiscal Year 2018.

The Annual Financial Report for 2018 is the first full-year Report issued subsequent to the privatization transaction, which was executed in March 2018.

The Annual Financial Report 2018 shows the following highlights:

(€ '000)

2018

2017

Variation (%)

Financials

   

 

Total Revenue, hereof:

58.535

54.232

7.9%

Container Terminal

37.930

35.395

7.2%

Conventional Cargo Terminal

18.896

16.937

11.6%

Facilities Rentals

1.485

1.690

-12.1%

Passenger Traffic

223

210

6.2%

       

Gross Profit

27.132

21.809

24.4%

Gross Profit Ratio (%)

46.4%

40.2%

 
       

EBITDA

27.605

18.850

46.4%

EBITDA Ratio (%)

47.2%

34.8%

 
       

Net Profit

17.152

7.243

136.8%

Profit Ratio (%)

29.3%

13.4%

 
       

The 2018 financial performance of ThPA S.A was based on the following activity levels:

 

2018

2017

Variation (%)

Volumes

   

 

Container Terminal (TEUs)

424.500

401.947

5.6%

Conventional Cargo Terminal (Tons)

3.755.102

3.598.371

4.4%

       

Vessel calls, hereof:

1.404

1.417

-0.9%

Container vessels

492

523

-5.9%

Conventional cargo vessels

752

726

3.6%

Passenger vessels

160

168

-4.8%

     

 

In 2018 the overall activity level of the Port increased considerably over 2017, leading to increased revenues. 

The Container Terminal Revenue increased by 7.2% over the previous year, a result primarily driven by increase in import/export volumes from 348,503 TEUs in 2017 to 363.109 TEUs in 2018, representing an increase of +4.2% and in transit volumes from 52.495 TEUs in 2017 to 60.637 TEUs in 2018, representing a relative increase of 15.5%. The container mix improved in 2018, resulting in Container Terminal revenues increasing relatively more than overall volumes (7.2% vs 5.6% respectively.)

The Conventional Port volumes increased by 4.4% over the previous year, with an improved cargo mix lifting the Container Port revenues by 11.6% from €16.9 million in 2017 to €18.9 million in 2018. 

Revenues from rental of facilities and passenger traffic remained largely at the same levels as in the previous year.

The Gross Profit increased from €21.8 million in 2017 to €27.1 million in 2018, representing a total increase of 24.4%.  The increase 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, which has resulted in an increase of the Gross Profit Ratio from 40.2% in 2017 to 46.4% in 2018.

In 2017 the Net Profit was negatively impacted by impairment of specific assets and provisions for anticipated losses.  In 2018 such impacts have been largely eliminated, which, together with the increased financial performance from improvements in operations, has led to an overall increase in Net Profit of  around €10,0 million in 2018, lifting the Net Profit Ratio from 13.4% in 2017 to 29.3% in 2018.

Statement of the Chairman of the BoD and CEO of ThPA S.A.

On the occasion of the announcement of the financial results, the Chairman of the BoD and CEO of ThPA S.A., Sotirios Theofanis, stated: “Following to the privatization of the Company in March 2018, the new Management Team has put in significant efforts to improve the operational efficiency and productivity of the port; improve reliability and quality of service to our customers; and unlock the great market potential that we foresee for the Company. The increased activity level and improved financial performance in 2018 shows that we are on the right path, but we still have ahead of us significant efforts to further release the potential of the Port. These efforts include strategic investments to increase the capacity of the Port; unlocking the commercial opportunities that exist in the existing and prospective markets; and continuously improving the productivity and efficiency of the Port, with the aim to further justify the trust of our shareholders; the economic community of the City of Thessaloniki, Northern Greece; and further of the Balkans and South East Europe”

 

 

“Thessaloniki Port Authority SA” updates the financial calendar for the year 2019 in accordance with articles 4.1.2  and  4.1.4.3.15.1 of the Athens Exchange Rulebook specifying:

  • Publication of the annual financial statements of THPA  SA, for the corporate use 2018, Tuesday 30 April 2019.  The Annual Financial Report for the fiscal year 2018 will be released at the Company’s website (www.thpa.gr) as well as at the website of the Athens Exchange (www.athexgroup.gr).
  • Presentation of the company's financial results to analysts Wednesday 22 May 2019.
  • Annual General Shareholders Meeting Wednesday 26 June 2019.
  • Ex-dividend date Tuesday 2 July 2019.
  • Dividend beneficiaries "Record date" Wednesday 3 July 2019.
  • The dividend payment will start on Monday 8 July 2019.
  • The company will issue a newer announcement on the dividend payment procedure.

THPA SA reserves the right  to change the above dates, following relevant notification to the public.

“Thessaloniki Port Authority SA” announces the financial calendar for the year 2019 in accordance with articles 4.1.2 and 4.1.4.3.15.1 of the Athens Exchange Rulebook:

  • Publication of the annual financial statements of THPA SA, for the corporate use 2018, Tuesday 23 April 2019. The Annual Financial Report for the fiscal year 2018 will be released at the Company’s website (www.thpa.gr) as well as at the website of the Athens Exchange (www.athexgroup.gr).
  • Presentation of the company's financial results to analysts Wednesday 15 May 2019.
  • Annual General Shareholders Meeting Wednesday 12 June 2019.
  • Ex-dividend date Tuesday 18 June 2019.
  • Dividend beneficiaries "Record date" Wednesday 19 June 2019.
  • The dividend payment will start on Monday 24 June 2019.
  • The company will issue a newer announcement on the dividend payment procedure.

THPA SA reserves the right to change the above dates, following relevant notification to the public.

“Thessaloniki Port Authority S.A.” announces that on Monday 18th of March 2019, a Notice of Commencement of the First Investment Period was sent to the Greek State, confirming the Company' s intention to initiate processes of the First Mandatory Investments, pursuant to article 7.2 of the Concession Agreement between the Greek State and "ThPA S.A.", ratified by Article 1 of Law 4522/2018 (Government Gazette A39 /7.3.2018).

Within the framework of these obligations, “ThPA S.A.” has signed a Contract of Services with the Independent Engineer, who will oversee the First Mandatory Investments and has provided to the Ministry of Finance the required Letter of Guarantee of Good Performance of 20 million euro.

 

“Thessaloniki Port Authority S.A.” announces that an upward trend was recorded in the throughput of Containers and Conventional Cargo in 2018. Specifically, 424,000 TEU’s in the Container Terminal and 3,764,000 tonnes in the Conventional Cargo were handled, marking an increase of 5.5%, in both sectors, relative to 2017.
These figures represent the steady commercial growth of the Port of Thessaloniki, and highlight the potential and the prospects that arise in order to establish the Port’s position in the Balkans and the wider region of Southeastern Europe.
With a solid plan and optimism, the management of ThPA S.A., continues its efforts to achieve this goal.

Thessaloniki Port Users Committee

The Board of Directors of ThPA SA announces the establishment of Thessaloniki Port Users Committee, in order to develop dialogue and effective cooperation with the Port Users aiming to address issues that arise in relation to its daily operation, as well as the improvement of the services provided.

The invitation of the Port Users Committee will include representatives from :  the Association of Shipping Agents of Thessaloniki, Thessaloniki Customs Brokers Association, Thessaloniki Chamber of Commerce and Industry, Thessaloniki Chamber of Commerce, Thessaloniki Chamber of Crafts, Exporters Association-SEVE, Industries Association of Northern Greece (SBBE) and the Association of Transport Companies of Northern Greece.

It is noted that the Port Users Committee is constituted irrespective of the establishment and operation of the Port Users' Council, provided by Law 4504/2017.