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The Board of Directors of ThPA SA approved today, Monday 30th April 2018, the financial results of the period from 01.01.2017 to 31.12.2017 according to which:

  • The Company's turnover for 2017 amounted to € 54,231,941 compared to € 48,061,529 in 2016, which corresponds to a 12.84% increase in sales.
  • An increase of 16.74% was recorded in container traffic, reaching 401,947 TEUs.
  • Traffic in conventional cargo increased by 8.63% to 3,598,371 tonnes of conventional cargo.
  • The revenue from Rented Facilities increased by 8.01%.
  • Cash and cash equivalents and the other financial products amount to € 90,324,984 compared to € 75,566,103 in 2016, i.e. an increase of 19.53%.

The results for the year 2017 are as follows:

  • The Gross profit is € 21,809,468 compared to € 22,171,088 in 2016, i.e. a decrease of 1.63% and as a percentage of turnover it amounts to 40.22%.
  • The operating profits (EBITDA) were € 18,849,985, compared to € 23,877,735 in 2016, recording a 21.06% decrease and as a percentage of turnover it amounts to 34.76%.
  • The earnings before taxes amount to € 12,474,042, compared to € 21,081,797 in 2016, i.e. a decrease of 40,83% and as a percentage of turnover it amounts to 23%, while the earnings after tax amount to 7,242,955 compared to € 14,084,474 in 2016, i.e. a 48.57% decrease and as a percentage of turnover it amounts to 13.36%.

The decrease in the results before taxes is due to: a significant increase in depreciation due to the revaluation of the useful life of mechanical equipment, as provided by the International Financial Reporting Standards; the impairment of obsolete and underutilized assets; and a significant increase in provisions, reflecting realistically the Company’s and third parties’ claims.

Commenting on the financial results, Chairman of the BoD and Chief Executive Officer of ThPA SA, Sotiris Theofanis, stated: “ThPA SA has great financial and growth potential, that should be properly exploited. The new Management Team with a strong sense of responsibility is willing to work with vision; plan; and commitment for the Company's growth and to respond to the trust of the shareholders and the economic community of Northern Greece as well.
In the context of this effort, the financial statements reflect realistically the financial position of the Company. We will continue in the same way, our committed effort on the Company's growth”.

The Management and members of the Board of Directors of Thessaloniki Port Authority SA, presented today, April 17th 2018, their strategic plan for the development of the Port of Thessaloniki into the gateway of the Balkans and South-East Europe, during a press conference held in Warehouse C, Port of Thessaloniki.

The Chairman of the Board of Directors and Chief Executive Officer of ThPA SA, Sotiris Theofanis, presented the vision along with the main axes of the Management’s strategy for the exploitation of the port. “Three major companies have decided to join forces to transform the port of Thessaloniki into a major shipping and logistics hub in South-East Europe. We are convinced that we will overcome any difficulties whatsoever and achieve our goals, significantly, contributing to the growth of Thessaloniki’s and the wider area's economy”, said Mr. Theofanis, stressing that there is already evidence of an improved performance since the new management took over three weeks ago.

The strategy, as emphasized by Mr. Theofanis, includes the following:

- Restoring of the proper functioning of the port

- Procurement of state-of-the-art container-handling equipment

- Reorganisation of ThPA SA and development of a customer-centric culture

-Immediate commencement of mandatory investments with as key objective the expansion of Pier 6 and the creation of a new container berth for New Panamax and mainline vessels.

-Development of beyond-the-port activities

According to the Management Team, during the current period, a survey of the problems and deficiencies takes place in every department of Thessaloniki Port Authority, so that all necessary actions can be taken to improve the operations. "The staff responds well to the new conditions and requirements of this new era", Mr. Theofanis noted.

The Deputy Chairman of the Board of Directors of ThPA and Terminal Link SAS CEO, Boris Wenzel, stated that the “key priority for the new Management of the Port is regaining the confidence of the port’s customers who have been very affected by the lack of reliability of the port and the long waiting times. Terminal Link is bringing the benefit of its vast international experience to identify and address in the most timely and efficient way the deficiencies identified and to rapidly upgrade the standards of the Port of Thessaloniki”.

Chief Executive Officer of Deutsche Invest Equity Partners GmbH and member of the Board of Directors of ThPA SA, Alexander-Wilhelm von Mellenthin, said: “Our interest for the port of Thessaloniki was first revealed in the summer of 2014. By analyzing data related to the market and competitive dynamics for the company, we were convinced that the Port could leverage on its strategic advantages and achieve a unique sustainable and competitively defendable position in the market. We are enthusiastic that together with our consortium partners, we can harness the potential of the port and transform it to become a key player in the Mediterranean Sea with a strong link to the Greek hinterland and the Balkans”. He also underlined that DIEP as a member of Deutsche Invest Capital Group is a German alternative investment management company, active in many asset classes and industry sectors.

Artur Davidian, member of the BoD of ThPA SA, noted that although Belterra Investments Ltd. holds the lowest stock percentage (20%) in the consortium, it aspires to play a key role in the dissemination of the benefits of the development of the Port to Thessaloniki’s society and to the wider region. “Αs a minority shareholder of the Consortium, we will play the majority role in providing the effect of the Port of Thessaloniki’s development to the city and local community. We want the Port of Thessaloniki to develop dramatically, to become the business leader of Northern Greece as a first step and a leader in the East Mediterranean port industry and gateway to the Balkans as the second step”, Mr. Davidian noted.

Rui Pinto, Deputy Chief Executive Officer and Chief Commercial Officer of ThPA SA, pointed out that the Port of Thessaloniki is a main driver of the economic growth of Northern Greece, and that the new management is determined to transform it into a state-of-the-art facility.

The Management of ThPA has stated its determination to develop synergies with the local authorities and entities in order to make the best use of the port of Thessaloniki, bringing multiple benefits to the local community and economy.

The press conference was coordinated by the Director General of the Municipal Society of Information, Speech and Communication, Filios Stangos.

On March 23, 2018, the new Board of Directors of ThPA SA was constituted into a body after the payment of 231,926 million euros and the completion of the transfer of 67% of the company's share capital to South Europe Gateway Thessaloniki (SEGT) Ltd.

SEGT Ltd consists of "Deutsche Invest Equity Partners GmbH" (47%), "Terminal Link SAS" (33%) and "Belterra Investments Ltd." (20%).




The new Board of Directors of ThPA SA was constituted into a body on Friday 23rd of March 2018, after the payment of 231,926 million euros and the completion of the transfer of 67% of the company’s share capital to “South Europe Gateway Thessaloniki (SEGT) Ltd”.

SEGT Ltd consists of "Deutsche Invest Equity Partners GmbH" (47%), "Terminal Link SAS" (33%) and "Belterra Investments Ltd" (20%).

Mr. Sotiriοs Theofanis, the coordinator of DIEP GmbH-Terminal Link SAS-Belterra Investments Ltd, was appointed as Chairman of BoD and Chief Executive Officer of ThPA SA, and the Managing Director of Terminal Link SAS, Mr. Boris Wenzel was appointed as Alternate Chairman of the Board of Directors.

The composition of the new Board of Directors of ThPA SA is as follows:

  1. Sotirios Theofanis, Chairman of BoD and Chief Executive Officer of ThPA SA, executive member
  2. Boris Wenzel, Alternate Chairman of BoD, non-executive member
  3. Artur Davidian, non-executive member
  4. Angelos Vlachos, independent non-executive member
  5. Alexander-Wilhelm Von Mellenthin, non-executive member
  6. Panagiotis Alevras, independent non-executive member
  7. Gavriel Ioannou, non-executive member
  8. Panagiotis Michalopoulos, independent non-executive member
  9. Yong YU, non-executive member

The new Chairman of BoD and Chief Executive Officer of ThPA SA, Sotiriοs Theofanis, after expressing his thanks to the outgoing administration for its contribution to the operation of the Port, said: "The prospects for the Port of Thessaloniki are extremely positive and we will concentrate our efforts to strengthen its position in the Southeastern European port services market. We are ready to implement our investment plan and we will keep open channels of communication with all stakeholders. I am convinced that the Port of Thessaloniki has the prospects to become a hub of strategic interest for Mediterranean, the Balkans and Southeastern Europe and play a leading role in the development of Northern Greece".

The new Board of Directors will take over, after an official ceremony, which will take place on Monday, March 26, at 12 noon, at the Port of Thessaloniki’s administration building.

ThPA SA is the first managing body of a port in Greece to be certified according to the ELOT 1801:2008/BS OHSAS 18001:2007 international standard as regards its occupational health and safety management system.

The certification pertains to the entire range of the ThPA SA’s activities and in particular:

  • Mooring of merchant, passenger and cruise vessels
  • Loading / unloading of bulk and container cargos
  • Storage and movement of merchandise and other items
  • Concession of areas for commercial and cultural activities

The implementation of the international standard by ThPA SA is an explicit commitment for the prevention of industrial injury and professional diseases, aiming at constantly improving the efficiency of the occupational health and safety management system.

The Managing Director of ThPA SA, Mr. Dimitris Makris, stated: “The acquisition of the said certification demonstrates the company’s interest and strong commitment to improve health and safety conditions at work. A constant effort is being made to implement international management systems and to observe the best available techniques in the said field, so as to limit occupational safety risks for employees. ThPA SA completed the cycle of certifications on operational functions, environmental protection and occupational health and safety management system, which all contribute a great deal to its successful course.”

Thessaloniki Port Authority SA is on the rise after achieving a significant increase in the container and conventional cargo throughput, according to the company’s annual statistics for 2017.

During the past year, an increase of 16,74% was recorded in container throughput, with a total of 401,947 TEUs handled as compared to 344,316 TEUs in 2016. The company set a decade record (2008-2017) and its second best performance in 20 years since 2007. An important raise was recorded in transit traffic (19,73%) as well as in Greek container exports (14,46%). It should be noted that a traffic volume exceeding 400,000 TEUs approaches the limits of the Container Terminal’s existing capacity.

2017 closed with an increase in the Conventional Port as well, where a total 3,598,271.00 tons of conventional cargo were throughput as compared to 3,312,527.00 tons in 2016 (8,63% increase). The largest increase was recorded in the transit cargo in bulk (25,5%).

During the same time, a 12,28% increase was recorded in the number of ships entering the Port of Thessaloniki, where a total of 1,417 ships were serviced in 2017 as opposed to 1,262 ships in 2016. Among them, 523 were container ships as opposed to 440 in 2016 (18,86% increase), 726 were conventional cargo vessels as opposed to 674 in 2016 (7,72% increase) and 168 were passenger ships as opposed to 148 in 2016 (13,51% increase).

Commending on the cargo throughput data, the Managing Director of ThPA Sa Mr. Dimitris Makris pointed out: “The company set high targets as regards cargo throughput for 2017 and achieved them. Container throughput, in particular, set a decade record. The upward trend for conventional cargo throughput in 2017 fluctuated as regards bulk cargo, especially during the last three months, a fact attributed to the development in certain industries of the area. The upward trend in the bulk cargo is expected to continue after the second quarter of 2018. The upward trend in the container cargo throughput, as well as vessel support services were negatively affected during the last quarter of 2017 by the ongoing – as of September 16th 2017 and up to present – strike of the customs officials trade union during night shifts at Gate 16 of the Free Trade Zone of the Thessaloniki Port. ThPA SA management made timely and significant efforts to address the problem by making realistic suggestions to the competent authorities. At the same time, exhausting all possibilities, ThPA SA provides workable solutions in order to reduce the particularly negative consequences that the ongoing customs officials strike has on the servicing of ships, always in communication with all the parties involved. The operation of Gate 16 of the Free Trade Zone of the Thessaloniki Port on a 24hour basis is always of paramount importance for trade facilitation and for promoting the development perspectives of the Thessaloniki Port.

According to the provisional financial data for 2017, ThPA SA's total proceeds amount to €58,106,000.00, namely a significant 11,25% increase as compared to 2016 (€52,230,000.00), by maintaining high financial performance indicators, increased cash deposits and zero lending. The aforementioned financial data confirm the company’s ability to fund important investment projects for the sustainable development of the Port.

The above positive results reflect the key contribution of the ThPA SA’s executives, employees and collaborators in their achievement.”       

ThPA SA turns the page

In the very near future, 67% of the ThPA SA’s share capital will be transferred to the South Europe Gateway Thessaloniki (SEGT) Limited, the consortium consisting in the preferred investor «Deutsche Invest Equity Partners GmbH», «Belterra Investments Ltd.» and «Terminal Link SAS».

“ThPA SA is presented with new challenges; important investments in substructure and equipment are deemed necessary, as well as major reforms that will render the company’s operation even more efficient. We aspire to the success of the strategic investor and their management at the ThPA SA; the goal is to upgrade Thessaloniki Port at the Trans-European Network for Transport and render it the principal transit centre of Southeastern Europe. This will be of great benefit to the national economy and employment”, underlined Mr. Makris.

Thessaloniki Port Authority S.A under the Concession Agreement with the Greek State, announces that on Friday 12th of October 2018, the protocol for the delivery and acceptance of the buildings of the 1st Pier of the Port of Thessaloniki will be signed between ThPA SA and the Municipality of Thessaloniki.