Piraeus Port Authority (PPA) reported a decline in revenue during the first half of 2026, with total revenue falling 8.9% year on year to €111.9 million, compared with €122.8 million in the same period of 2025. Net profit after tax declined 24.4% to €35.4 million.
The port operator attributed the weaker financial performance mainly to reduced activity at Pier I, which is directly managed by PPA. The comparison was also affected by unusually high domestic cargo throughput in the first half of 2025, when concerns over possible global trade tariffs had boosted volumes.
Operations at Pier I were additionally affected by ongoing implementation of the port’s Mandatory Investment 5.5 and 5.7 projects. Construction work has temporarily reduced storage capacity in stacking areas, limiting throughput. PPA said the projects are expected to improve the pier’s capacity, productivity and operational efficiency once completed.
Despite the overall revenue decline, Piers II and III recorded higher revenues, supported by improved throughput in recent months. PPA said the positive trend strengthened from July and is expected to contribute more significantly to third-quarter 2026 results.
PPA also accelerated its investment programme during the period, spending €106.7 million on infrastructure projects and equipment. Total assets reached €750.3 million at the end of June, an 8.8% increase from the end of 2025.
The company said its investment programme includes improvements aimed at preparing the port to handle higher cargo volumes following the full reopening of the Suez Canal. PPA is also accelerating development of a logistics centre expected to create additional revenue streams.
The results come amid continued volatility in global shipping and geopolitical conditions, which have affected cargo flows and operating conditions across Mediterranean ports.