Thessaloniki Port Authority S.A. (ThPA S.A.) has released its financial results for the financial year 2023, reporting consolidated revenue of US$92 million, relatively stable compared with the previous year’s levels.
The container business of the port authority demonstrated significant revenue growth, exceeding 12% to reach US$64 million. Similar growth rates were observed in the real estate sector, with an 18.2% increase to US$4.1 million. However, the conventional cargo terminal experienced a decline in revenue by 21.5% to US$21.5 million. Revenue from the subsidiary in Sofia remained at insignificant levels.
In terms of group performance, profitability improved across all levels: Gross Profits increased by 1.9% to US$40.1 million, Operating Profits (EBITDA) rose by 3.4% to US$36.3 million, and Net Profits after taxes grew by 8.9% to US$22 million.
“The implementation of the development plan and the initiatives of ThPA S.A. are constantly strengthening the role of the Port of Thessaloniki in the global port sector. With continuous investments of more than US$76.1 million since 2018, upgrading the equipment, infrastructure, and services provided, and the specialization of the Organization’s human resources, we achieved the strengthening of our partners’ trust, creating new milestones for the Port of Thessaloniki,” stated Athanasios Liagkos, the executive chairman of the BoD at the second largest port in Greece.
The Capital Expenditure (CapEx) plan for 2023 exceeded US$9.8 million, primarily allocated towards projects such as the construction of a new Cruise Terminal named “Alexander the Great,” restoration of functional depths, quay repairs and upgrades, power substation enhancements, procurement of loading and unloading equipment, and implementation of ISPS security systems.
“An indicative example is the highest container throughput ever recorded at the Port (520.048 TEU). In addition, in 2023 we strengthened our extroversion, with the dynamic participation of ThPA S.A. in national and international prestigious exhibitions and with initiatives to hold events in Thessaloniki, such as the 7 th “Posidonia Sea Tourism Forum” and the 1st “Southeast Europe Connectivity Forum,” added Athanasios Liagkos.