Piraeus Port Authority (OLP) posted a 23% increase in profits and a 14.6% rise in revenue for the first quarter of 2025, signaling steady growth despite ongoing challenges, according to the company’s announcement.
As the announcement points out, the company has continued its upward trajectory from previous quarters, maintaining strong performance amid a difficult operating environment.
Key elements of this quarter’s performance include a notable improvement in revenue, effective cost management, and a significant boost in profitability indicators. The company also emphasized its continued financial robustness and strong liquidity, even after fully repaying €26.5 million in bank debt.
The improved financial results and profit margins reflect not only stronger revenue performance but also the company’s effective cost management strategy, implemented by its leadership despite persistent challenges in the broader inflationary economic environment.
Compared to the first quarter of 2024, the Piraeus Port Authority recorded increased activity across most of its operational sectors. Particularly noteworthy was the performance of the container terminal, which saw a 53.0% rise in total cargo handling.
This upward trend was driven by both a 16.2% increase in domestic cargo volumes—rising from 54,791 to 63,689 TEUs—fueled by the growth of the Greek economy, and a striking 80.6% surge in transshipment cargo, which jumped from 73,235 to 132,248 TEUs year-over-year.
Source: Tovima.com
