ECONOMY

Piraeus Port reports pandemic driven turnover slump

piraeus-port-reports-pandemic-driven-turnover-slump

Piraeus Port Authority SA on Monday reported a 10.9% decline in 2020 turnover to 132.9 million euros, from €149.2 million in 2019, and attributed this development to the impact of the pandemic crisis on sea cruise and coastal shipping (revenue was down 84% and 26.4%, respectively), along with a 20.3% decline in revenue from the car transport sector.

On the other hand, revenue rose 1.1% from the concession fee of the port cargo port and by 16.2% in the ship repair sector.

Expenses fell 8.8% to €93.7 million in 2020 from €102.7 million in 2019, while pre-tax profits dropped 22.3% to €36.9 million. After-tax profits fell 25% to €26.4 million.