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ThPA S.A. participated in the 1st China International Import Expo -CIIE, held in Shanghai from November 5 to November 10, 2018, aiming at increasing extroversion and establishing new partnerships.

The pavilion of ThPA S.A. attracted a large number of visitors who were informed about both the activity and the development prospects of Thessaloniki Port.

During the Expo, the BoD Chairman and CEO of ThPA S.A., Sotirios Theofanis, had several contacts and meetings with Company representatives, executives and with actors of the international port industry, demonstrating the role and the potential of Thessaloniki Port, as a link along the Sea Silk Road, linking China to Europe.

It is noted that over 3,600 businesses from 172 countries participated in the 1st China International Import Expo.

The tender for the award of services of The Independent Engineer was completed. The afore mentioned will undertake the supervision and evaluation of the mandatory investments of € 180 million, to be implemented at the Port of Thessaloniki within the next seven years, according to the signed Concession Agreement.

The scheme consisting of the following companies SALFO & ASSOCIATES S.A. - AECOM LIMITED - SAMARAS & ASSOCIATES S.A. was selected as The Independent Engineer.

It is noted that in the context of the tender process, conducted by ThPA S.A., four offers were submitted from the following company schemes:


ThPA S.A. signed a MoU with Rutgers University, one of the oldest US higher education institutions. 

The agreement was officially announced yesterday, Saturday 15th of September 2018, by the BoD Chairman and CEO of ThPA S.A., Sotirios Theofanis, and the Director of the Center for Advanced Infrastructure and Transportation of Rutgers University, Dr. Ali Maher, during the special event that was held at the Company’s pavilion, within the framework of the 83rd Thessaloniki International Fair.

The event was also attended by the Consul General of the USA in Thessaloniki, Mr. Gregory W. Pfleger.

The Memorandum of Understanding aims at developing common research, educational and know-how transfer related programs, projects and activities, in such fields as intermodal transport, ports and Logistics.

“This is a chance to exchange research experiences and apply new technologies at the Port of Thessaloniki, as an experimental field of practical application” stated Mr. Theofanis stressing that the cooperation concerns, inter alia, the field of new technologies such as technologies for the ‘Port of the future’ and environmental protection issues. Furthermore, cooperation also extends to other thematic areas such as the development of technologies for monitoring the state of the infrastructure and recording/managing the traffic of heavy goods vehicles arriving in the Port.

For his part, Mr. Maher stressed that maritime transport is a key component of our national economies underlining that ports like the one in Thessaloniki, are essential for both the regional economy and the national economy in Greece.

The CAIT Director stressed that both he and his associates are looking forward to this cooperation with the Port of Thessaloniki in order to face maritime transport-related challenges, such as goods and cargo handling, port asset management, resilience and, more generally, development of technologies and innovative solutions to address such problems.

In his short address, Mr. Pfleger stressed that the relations established within the framework of the 83rd TIF and, in particular, the educational relations with US Universities are very important for the US Consulate General in Thessaloniki and the entire diplomatic mission in Greece.

Rutgers University was set up in 1766 in New Jersey and now has 69 000 students and 22 500 teachers and employees. The Center for Advanced Infrastructure and Transportation, which constitutes the largest transport research center of Rutgers University implements research projects and programs in a number of thematic areas in the fields of infrastructure and transport. The new methods and technologies developed at research level, are also used in practice in real conditions.

Alongside research, the Centre trains over 7 000 professionals yearly through over 200 courses.



Photo 1 & Photo 2 : From left, the Consul General of the USA in Thessaloniki, Mr. Gregory W. Pfleger, the BoD Chairman & CEO of ThPA S.A., Mr. Sotirios Theofanis and the Director of the Center for Advanced Infrastructure and Transportation of Rutgers University, Dr. Ali Maher

Photo 3: The BoD Chairman & CEO of ThPA S.A., Mr. Sotirios Theofanis and the Director of the Center for Advanced Infrastructure and Transportation of Rutgers University, Dr. Ali Maher during yesterday’s event at ThPA S.A. pavilion

The Annual General Meeting of ThPA S.A. convened today, Thursday June 28, 2018 in Thessaloniki and approved the Annual Financial Report for the Fiscal Year 2017 and the distribution of Dividend of € 0.45 per share.

In the General Meeting, the 78.42% of the Shareholding Capital was represented and the activities and the Financial Results for the Fiscal Year 2017 were presented.

According to the financial results, the Company’s turnover for the Year 2017 reached an amount of € 54.2 million as compared to € 48.1 million in the Year 2016, showing an increase of 12.84%. Earnings before Tax reached € 12.5 million as compared to € 21.1 million in the Year 2016, showing a decrease of 40.83%, while Earnings after Tax reached € 7.2 million as compared to 14.1 million in the Year 2016, showing a decrease of 48.57%. These results are attributed to significantly increased depreciation relating to the re-evaluation of the useful life of the mechanical equipment; the assets impairment relating to obsolete and underutilized assets; and the substantial increase in provisions, reflecting realistically third parties’ claims.

The Chairman of the BoD and CEO of ThPA S.A, Mr. Sotirios Theofanis, referred to the high growth potential of the Company, entering a period of reorganization and modernization. “The new Management Team established last March, has mapped the existing situation in all port’s sections and activities and currently has a clear and realistic picture of the situation. The first Tenders for the procurement of modern cargo handling equipment are underway, while the effort to improve the port’s operation has shown its first results. During the first five months of the Year 2018, container traffic showed an increase of 10% (in TEUs) compared to the same period of the Year 2017, providing us with optimism for the future development. Based on this five months container traffic performance, it is estimate that the annual container throughput will reach an annual figure of 430.000 – 435.000 TEUs. We strongly believe that the Obligatory Investment Program implementation of € 180 million, to be shortly initiated, will provide a strong momentum for the development of the port. Provided that the maturity period will be short, we are determined to complete the Pier 6 Extension Project, being the backbone of our Investment Plan, in approximately 4.5 years, namely much earlier than our contractual obligation”, Mr. Theofanis pointed out.

The Management Team of ThPA SA expresses its deep sorrow over the passing away of Jacques R. Saadé, Founding President of the CMA CGM Group.

Jacques R. Saadé has been established as a global figure who played a key role in shaping Container Transport Sector and has been globally distinguished for his vision for this Sector. His work and his ideas will continue to determine the Liner Shipping Industry in the future.

We would like to extend our most sincere condolences to his family and to the large family of CMA-CGM.

The Financial Results of ThPA SA for the year 2017 were presented today, May 31st 2018, by the Management Team of the Company, during the Analysts’ Annual Briefing held at the Administration Building of the Port of Thessaloniki.

The Company’s turnover for 2017 amounted to € 54.2 million compared to € 48.1 million in 2016, recording an increase of 12.84%. Revenue by operating segment is distributed as follows: Container Terminal operations amounted to € 35.4 million, corresponding to 65.27% of the total turnover; Conventional Port operations amounted to € 16.9 million, corresponding to 31.23% of the total turnover; Passenger Port operations amounted to € 210 thousand, corresponding to 0.39% of the total turnover; and Exploitation of Open and Covered Spaces amounted to € 1.7 million, corresponding to 3.12% of the total turnover.

Profits before tax amounted to € 12.5 million compared to € 21.1 million in 2016 recording a decrease of 40.83% and as a percentage of turnover of 23%, while profits net of taxes were € 7.2 million compared to € 14.1 million in 2016, recording a decrease of 48.57% and as a percentage of turnover of 13.36%.

The aforementioned result is attributed to the significant increase in depreciation due to the revaluation of the useful life of the Port equipment; the impairment of the Company's assets; and the significant increase in provisions to mitigate risks. The new Management Τeam believes that by employing this approach, the Financial Statements reflect realistically the financial starting point of the Company under the new shareholdership.

ThPA SA is a robust company with null borrowing. In 2017 there was an increase of 19.80% of the invested cash funds, from € 71.6 million to € 85.8 million. The cash equivalents along with the other financial assets amounted to € 90.3 million. The proposed dividend of earnings for the year 2017 is € 0.16 per share.

Last year, an increase of 16.74% was recorded in container throughput, reaching 401,947 TEUs, compared to 344,316 in 2016. The total conventional cargo throughput amounted to 3,7 million tons in 2017, compared to 3,4 million tons in 2016 (9,38% increase).

Commenting on the Financial Results, the Chairman of the BoD and Chief Executive Officer of ThPA, Sotiris Theofanis, stated: "2017 was a key year for ThPA SA, since the tender was completed and the agreement for the sale of ThPA’s 67% was signed, between Hellenic Republic Asset Development Fund (HRADF) and South Europe Gateway Thessaloniki (SEGT) Limited, the Company set up by the consortium comprising of the Companies “Deutsche Invest Equity Partners GmbH”, “Terminal Link SAS” and “Belterra Investments Ltd”.

The new Management Team, which took up its duties last March, has set as its main priorities the restoration of the level of service of the Port; the procurement of state-of-the-art handling equipment; the reorgsanisation of the Company; and the establishment of a customer-oriented culture; as well as the commencement of obligatory investments of € 180 million as soon as possible in order for the Port of Thessaloniki to strengthen its position in the South East Europe port services market.

I think 2018 will evolve into a year of significant restructuring of the operation of the Company, which enters a new era with considerable growth prospects.

Forecasts for container throughput are particularly positive, with an increase of 8,4% recorded in the first four months of this year.

The strong liquidity and null borrowing of ThPA SA; the implementation of the investment plan; the container throughput; and the encouraging messages that the new Management Team receives from customers and partners, make us very optimistic about the future".