Skip to main content

Commentary of financial results for 01.01 – 30.09.2015

The Board of OLTH SA approved today 27/11/2015 the Financial Report for the period of 1/1/2015-30/9/2015.


  • The company’s turnover at the period of 01/01/2015 to 30/09/2015 amounted to 38,111,535€ against 39,897,608€ at the same period in 2014, exhibiting a decrease by 4.48%, attributed to the decrease of the sales in operational sectors (Container Terminal by 1.08% and Conventional port by 9.62%), the sales at Exploitation of premises by 4.79% and   the sales at Passengers Traffic by 7.73%.
  • Container Terminal handled 252,127 containers (TEU’s), throughput increased by 1.03% at the period of 01/01/2015 to 30/09/2015, against   the same period in 2014.
  • Dry bulk cargo decreased slightly by 1.57%, due to the decrease of international prices in products as nickel and the decrease of cement production of the industries in the region
  • Conventional cargo was decreased by 6.07% due to the decrease in metallurgical products demand and the shutdown of a large steel industry, which was major customer of the company.
  • Total revenues decreased by 6.41% against the same period in 2014, due to the decrease of sales and the reduction of financial income by 45.42% due to the significant drop in interest rates on invested assets of the company.
  • Total expenses decreased by 2.09% against the same period in 2014, mainly by reducing the personnel wages and expenses by 5.28%.
  • Gross profit amounted to 18,383,975€ against 18,995,289€  in 2014 (-3.22%).
  • The operating profit (EBITDA) at the period of 01/01/2015 to 30/09/2015 amounted to 20,315,627€ against 21,664,422 € in 2014 (-6.23%).
  • Earnings before taxes amounted to 18,686,655€ against 21,038,703€ in 2014 (-11.18%), while after-tax results amounted to 13,527,477€ against 15,838,566€ in 2014 (-14.59%).
  • Profits remain high as a percentage of the total turnover with gross profit amount to 48.24%, operational profit to 53.31%,profit before taxes to 49.03% and profit after taxes to 35.49%.