The Management of “Thessaloniki Port Authority S.A.” (“ThPA S.A.” or the “Company”), presented on the Analyst day, April 7, 2023 via teleconference from the Company’s premises, the financial results for 2022, as approved by the Board of Directors of April 6th 2023 and following the relevant Corporate Announcement.
In addition to the detailed commentary on the financial performance of 2022, key pillars of the business strategy were also discussed, with an emphasis on the long-term growth through upgrading of infrastructure, equipment and networks, under strict safety and protection protocols, promoting modern sustainability practices.
It was emphasized that ThPA S.A. maintains a strong financial position and generates new annual cash flows, capable of financing annual operating expenses (OpEx), annual payments of satisfactory dividends and a significant part of the total investment needs (CapEx), combined with the future use of borrowing, when required. The Company remains Debt free.
In detail, regarding the capital expenditures plan, ThPA S.A. has completed particularly significant investments of over € 62 mil., from its privatization (March 2018) until December 2022. Among other items, two new state-of-the-art STS gantry cranes, a mobile harbor crane and more than 30 special project machines were acquired, while it proceeded to upgrades of platforms, buildings and energy supply substations, complex projects which are expected to significantly improve functionality and servicing at the Terminal Stations.
The Management of ThPA S.A. is focused on a series of new implementations, in addition to the above, with emphasis on further strengthening the leading role of the Port of Thessaloniki as a primary infrastructure for conventional cargo handling in the Eastern Mediterranean, as well as on the expansion of the Free Zone. Subsequently, the development of the so-called “beyond the Port activities” is promoted, aiming at the integration of the Port of Thessaloniki into the wider supply chain of the region, providing intermodal transport solutions to and from the main Balkan Countries. The direct rail connection between the Port of Thessaloniki and Nis (Serbia) has been added to the existing one with Sofia (ThPA Sofia EAD) while destinations are expected to be enriched in the future.
Regarding the future prospects for ThPA S.A., 2023 is expected to be another year of satisfactory growth for the Container Terminal and the Conventional Port, while a significant increase is expected in the Passenger Sector. A new record was posted in 2022, with over 130 thousand passenger arrivals at the Port of Thessaloniki, compared to 77 thousand passengers in 2022. In 2023, 69 cruise arrivals are expected, compared to 61 arrivals in 2022, with around 50% of these being homeporting arrivals.