Cruise and Coastal Shipping Drive Record 2024 Results for Piraeus Port

• 12 April, 25

Piraeus Port Authority S.A. (PPA) reported record financial results for the 2024 fiscal year, with notable growth in cruise operations and coastal shipping reinforcing the port’s strategic role in regional connectivity and tourism.

Total revenue reached 230.9 million euros, an increase of five percent compared to 2023, while after-tax profits rose to 87.4 million euros, up by thirty point eight percent. The proposed dividend per share increased by forty-three point seven percent to 1.92 euros, the highest in the company’s history. These results reflect the port’s operational efficiency and strong financial position, with cash reserves reaching 204.5 million euros by year-end.

Cruise operations delivered another record year for PPA, achieving all-time highs in vessel calls and passenger volumes. Revenue from the cruise segment grew by fifteen point five percent, driven by strategic planning and targeted collaborations. The port’s performance further solidified Piraeus’ standing as a leading cruise hub in the Eastern Mediterranean.

In coastal shipping, revenue rose by six point five percent, supported by increased passenger and vehicle traffic. The port of Piraeus continues to serve as the main maritime gateway between mainland Greece and the islands, a role that has become increasingly vital as demand for domestic travel rebounds.

While the spotlight was on cruise and coastal sectors, other business areas also performed steadily. The car terminal recorded a twenty-eight point two percent rise in revenue, while the Pier I container terminal, managed directly by PPA, saw a ten point one percent increase. Revenue from Piers II and III declined due to a weaker first half, yet overall container terminal revenue remained stable despite global supply chain disruptions. The ship repair zone also maintained activity, with revenue up marginally by zero point six percent.

“We are proud to report another year of strong financial and operational performance,” said PPA CEO Su Xudong. “Our ability to achieve record results while strengthening Piraeus’ role as a leading cruise and coastal hub demonstrates the resilience of our strategy and the commitment of our people.”

Cre: news.gtp.gr