Athens Mass Transit-OASA: Higher ticket revenue in 2022 than pre-Covid

This follows from OASA’s financial results for 2022, according to which the organization recorded a 55% increase in the provision of transport project services, i.e. revenue from cards and tickets. Specifically, proceeds went from 135 million euros for 2021 to 210 million euros for 2022. It is worth noting that compared to pre-pandemic levels, with 2019, the increase in ticket revenue for 2022 was 13.8%.

However, the number of boardings has fallen by 192.4 million over five years, which is interpreted as an increase in passengers buying and validating tickets and cards.

The total annual financial results of 2022 OASA has a turnover of 217.6 million euros against 141.2 million euros, EBITDA was 6.5 million euros against losses of 3.8 million euros and after-tax profits amounted to to 3.3 million euros against losses of 6.7 million euros for the same period in 2021.

At the same time, however, the grants received by the organization were larger, compared to 2021, both for it and for the subsidiaries of OSY and STASY.

The grants

However, the subsidies that the State has given to OASA and its subsidiaries for their operation and emergency needs, such as for example the compensations due to Covid and the increase in energy costs, are also increasing.

In more detail, grants have increased by 6.5% as throughout 2022 they amounted to 274.6 million Euros compared to 257.7 million Euros given in 2021. The largest grant was given to STASY and amounts to 113 .6 million Euros. If we take into account the amount of subsidies, the largest amounts were given for:

• Dealing with the energy crisis for STASY (25.9 million euros)
• The concession contract with KTEL for the OASA routes for the Attica Region (25.83 million).
• The regular subsidy of STASY (25.83 million euros with an annual increase of 17.4%)
• The payment of overdue debts of STASY to PPC (25.9 million euros, which is considerably more than the 34,004 euros given in 2021)
• The extraordinary support of STASY for the energy crisis (26 million euros)
• The regular subsidy of STASY (25.1 million euros)
• The support of OSY for the energy crisis (16.8 million euros)
• The grant of the Unified Automatic Tax Collection System-ASSK (16.3 million euros)