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Thessaloniki Port Authority S.A. announces the voting results during the Ordinary General Meeting of the Company’s Shareholders that was held on 26th June 2019 in Thessaloniki, at the hotel “Mediterranean Palace”. The General Meeting was attended in conformity by 25 shareholders, attending either in person or by proxy and representing 8,007,616 shares, i.e. 79.4406% of the Company’s paid-up share capital and through open voting, the following items were discussed and decided:

  1. Approved the Annual Financial Statements for the 19th fiscal year (01.01.2018 to 31.12.2018), accompanied by the Annual Management Report by the Board of Directors, the Independent Auditors’ Report and the Corporate Governance Statement.

The voting results on the 1st item were as follows:   

  • Number of shares for which valid votes were given: 8,006,716 (79.4317% of the share capital with voting rights), out of which:
    • For: 8,006,716
    • Against: 0
  • Abstain: 900
  1. Approved the appropriation of annual earnings and distribution of dividend, which amounts to 57 euro per share, which is subject to 10% withholding tax, and therefore the net dividend payable will be 0.5130 euro per share. The ex-dividend date was set on 2nd of July 2019, the dividend beneficiaries "Record Date" was set on 3rd of July 2019, and the dividend payment date was set on 8th of July 2019.                                                   

The voting results on the 2nd item were as follows:  

  • Number of shares for which valid votes were given: 8,007,616 (79.4406% of the share capital with voting rights), out of which:
    • For: 8,007,616
    • Against: 0
  • Abstain: 0
  1. It did not approve the Overall Management by the Board of Directors of the Company and the discharge of the Certified Auditors for the fiscal year 2018.

The voting results on the 3rd item were as follows:     

  • Number of shares for which valid votes were given: 8,004,016 (79.4049% of the share capital with voting rights), out of which:
    • Against: 6,753,600
    • For: 1,250,416
  • Abstain: 3,600
  1. It did not approve the Overall Management by the Board of Directors of the Company, and the discharge of the Certified Auditors for the fiscal year 2017.

The voting results on the 4th  item were as follows:     

  • Number of shares for which valid votes were given:8,006,716 (79.4317% of the share capital with voting rights), out of which:
    • Against: 6,753,600
    • For: 1,253,116
  • Abstain: 900
  1. Approved the fees – remunerations paid to the members of the Board of Directors and to the Audit Committee during the fiscal year of 2018.

The voting results on the 5th item were as follows:   

  • Number of shares for which valid votes were given: 8,006,032 (79.4249% of the share capital with voting rights), out of which:
    • For: 8,006,032
    • Against: 0
  • Abstain: 1,584
  1. Approved the fees – remunerations that will be paid during the current fiscal year 2019 to the members of the Board of Directors members and to the Audit Committee.

The voting results on the 6th item were as follows:   

  • Number of shares for which valid votes were given: 8,004,032 (79.4051% of the share capital with voting rights), out of which:
    • For: 8,003,687
    • Against: 345
  • Abstain: 3,584
  1. Approved the assignment of the Company’s regular audit for the current accounting period to the Auditing Firm “KPMG Certified Auditors S.A.” having its registered office in Athens, 3 Stratigou Tombra Street, 15342, Aghia Paraskevi, with SOEL Registered No.114

The voting results on the 7th item were as follows:   

  • Number of shares for which valid votes were given: 8,007,616 (79.4406% of the share capital with voting rights), out of which:
    • For: 8,007,616
    • Against: 0
  • Abstain: 0
  1. Approved the granting permission (pursuant to article 98 par. 1 of Law 4548/2018) to the members of the Board of Directors, as well as to executive officers of the Company, to participate in the Boards of Directors or in the Management of other, (associated) companies, pursuing similar purposes.

The voting results on the 8th item were as follows:   

  • Number of shares for which valid votes were given: 8,006,716 (79.4317% of the share capital with voting rights), out of which:
    • For: 7,979,173
    • Against: 27,543
  • Abstain: 900

Announcements

The announcements  refered to: a) the election of a new member of the Board of Directors, namely Mr. Cedric Garnier as non-executive member, to replace the resigned, non-executive member Mr. Yong Yu, and b) the appointment of Mr. Artur Davidian from non-executive, to executive member of BoD.

            

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.