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Thessaloniki Port Authority S.A. announces that, according to the Article 4.1.3.4 of the Athens Exchange Regulation and following the decisions of the Annual General Meeting of Shareholders on 26th June 2019, the dividend for the financial year 2018 amounts to € 0,57 per share, which dividend is subject to 10% withholding tax, hence, net dividend payable will be €0,5130 per share.

The ex-dividend date was set on Tuesday, July 2, 2019. From this date, the Company's shares will be traded on the Athens Stock Exchange, without the right to receive a dividend.

The Record Date was set on Wednesday, July 3, 2019. According to the ATHEX regulations, the beneficiaries of the dividend are the investors who are registered in the Dematerialized Securities System “DSS” records as beneficiaries of the aforementioned Record Date.

The payment of the dividend was set on Monday, July 8, 2019, by the paying bank «Eurobank Ergasias SA» as follows:

  1. Through the operators of securities accounts in the DSS, for those shareholders who have authorized their operators to collect the dividend.
  2. By bank deposit in the International Bank Account Number (IBAN), where the investor has declared that he/she wishes to receive the distributed amounts according to article 13 of the DSS Operation Regulation and the decision No. 6 of BoD of ATHEXCSD, as applicable to investors who do not wish to receive dividend through their operators. It concerns investors who have declared IBAN to the paying bank «Eurobank Ergasias SA».
  3. Through the branch network of «Eurobank Ergasias SA», for those shareholders who have requested the non-collection of dividends by their operators or have revoked the relevant authorization for DSS operators, or whose shares are held in the Special Account of ATHEXCSD. These shareholders will be able to collect the dividend either by themselves or by their legally authorized representatives at «Eurobank Ergasias SA» throughout its branch network by presenting their police Identity card and by notification of the Investor Share Number Code in the DSS or the relevant authorization of the beneficiary with a verified signature by a Public Authority.

Dividends that will not be collected within five (5) years are forfeited in favor of the Greek State.

For further information, the Company's Shareholders may contact the Company's Shareholders Financial Department (tel. 2310 593-320, ThPA Technical Service Building, Gate 11, Port of Thessaloniki).

In addition, the contact details of the paying bank "Eurobank Ergasias SA" are as follows: Domestic Markets Custody Operations, Corporate Actions Department, Iolkou 8 and Filiki Etairia 14234 N.Ionia, telephone numbers 210-3522085 and 210-3522284

“Thessaloniki Port Authority S.A.”, announces the appointment from 19.06.2019 of Mr. Franco Νicola Cupolo as Director, with the delegated function of Chief Executive Officer.

Mr. Sotirios Theofanis maintains the position of the Chairman, as an executive member of the Board of Directors.

Further, the Company also announces the termination of cooperation of the Chief Operating Officer & Container Terminal Managing Director, Mr. Marc Riondel, on 30.06.2019.

The Management Team of ThPA S.A., presented on 4.6.2019 the Company’s financial results of 2018 to the financial analysts.

The turnover of the Company for 2018 amounted to € 58,5mil., compared to € 54,2mil. of 2017, recording an increase of 7,9%.

Revenue by operating segment is distributed as follows: Container Terminal operations amounted to € 37,9mil. corresponding to 64,8% of the total turnover; Conventional Port operations amounted to € 18,9mil. corresponding to 32,3% of the total turnover; Passenger Port operations amounted to 223k. corresponding to 0,4% of the total turnover; finally, Exploitation of Open and Covered Spaces amounted to € 1,49mil. corresponding to 2,5% of the total turnover.

In regards to profitability, an increase was produced at all levels.

More explicitly, operational earnings, EBITDA amounted to € 27,6mil. in 2018, compared to € 18,85mil. of 2017, recording an increase of 46,4%, while the relevant EBITDA margin (over turnover) was formed at 47,2%.

Earnings before taxes (EBIT) amounted to 24,7mil. in 2018, compared to € 12,5mil. in 2017, recording a significant increase of 98,2%, while the relevant EBIT margin was formed at 42%. Earnings after taxes (EAT) amounted to 17,15mil. in 2018, compared to 7,2mil. in 2017, recording an over-doubled increase of 136,8%, while the relevant EAT margin was formed at 29,3%.

Significantly improved profitability is attributed to a number of parameters. Particularly, improvement was recorded on the efficiency of the operations of the Port, in combination with increased traffic, in both, Container Terminal and the Conventional Port. Additionally, significantly lower impairments were recorded, as well as lower provisions, considering the conservative policy adopted in 2017.

The Port continues to operate without debt, supported by a strong cash basis, with cash and cash equivalents surpassing 91mil. in 31.12.2018.

Dividend policy of the Port primarily targets to satisfy shareholders, accounting however for the preservation of cash reserves, capable to finance the substantial current and future investments. Dividend to be distributed from the 2018 earnings is proposed to be 0,57 per share, subject to approval by the Annual General Meeting of Shareholders.

Based on the temporary data of the first quarter of 2019, increase in volumes for the major activities of the Port, remains in line with the positive trends observed in 2018.

Priorities of the new Management Team are the implementation of the Obligatory Investments of € 180mil., the further increase of efficiency in all operational segments and the alignment in pricing policy based on market terms. Considering the above, the primary and constant target is to strengthen the Port’s position in the wider Southeastern Europe and consequently, increase shareholders’ value.

Thessaloniki Port Authority S.A. announces the change of the Analysts’ Day presentation of  the Company's  financial results of the year 2018, from Wednesday 22nd of May, to Tuesday 4th of June 2019.

”Thessaloniki Port Authority S.A.”, announces the appointment of Mr. Apostolos Papadopoulos Almeida as Treasurer and Investor Relations of ThPA SA.

 

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”