Piraeus Port Authority S.A. (PPA S.A.) announced its financial results for the first half of 2026, highlighting resilient revenue performance and a smaller year-on-year decline in profitability compared with the first quarter.
Despite the volatile geopolitical environment, PPA S.A.’s total revenue dropped 8.9% to €111.9 million, from €122.8 million in the corresponding period of 2025.
Net profit after tax amounted to €35.4 million, compared with €46.7 million in the first half of 2025, representing a 24.4% decline.
During the same period, PPA S.A. invested €106.7 million in infrastructure projects and equipment, significantly accelerating its investment programme. Total assets stood at €746.8 million, up 8.3% compared with the end of 2025.
The decline in revenue and, consequently, profitability compared with the corresponding period of 2025 was attributed to lower performance at Pier I. This was mainly due to the comparison with the increased handling of domestic cargo recorded in the first half of 2025, amid concerns at the time over the possible imposition of tariffs on global trade.
At Pier I, work is also underway on Mandatory Upgrades 5.5 and 5.7. These projects have temporarily reduced storage capacity in the container stacking areas, thereby affecting handling capacity.
These investments are of strategic importance and are expected to bring significant improvements in the capacity, productivity, efficiency and overall operational capability of Pier I in the coming years, enabling it to handle the increased cargo volumes expected following the full reopening of the Suez Canal.
Revenue from Piers II and III also increased, with the positive performance driven by stronger handling activity recorded over the last months, making a significant contribution to the Organisation’s revenue and profitability. This positive trend has become more pronounced since July and will be reflected in the third quarter of fiscal year 2026.
PPA S.A. CEO Su Xudong stated: “The first-half 2026 performance confirms the resilience of the Port of Piraeus and its readiness to play a leading role in a demanding global market. With the digital and green transformation as our steady compass, we are implementing an extensive investment programme that not only enhances our operational capabilities but also safeguards our sustainability and minimises our environmental footprint.
We are accelerating our efforts to implement the Logistics Centre, which will create new revenue streams and generate greater added value for the local community. We believe that, despite the challenging economic environment and the many uncertainties, there are strong reasons to be optimistic about the prospects of Piraeus Port Authority.”
Source: Naftemporiki