PPA S.A. published its financial results for the first half of 2026, indicating revenue resilience and a reduction in year-over-year negative changes in profits compared to the results of the first quarter.
Decrease in Revenue and Profit
PPA S.A.'s total revenue reached €111.9 million, representing an 8.9% decrease compared to €122.8 million in the same period of 2025. Net profit after tax also fell to €35.4 million, down 24.4% from €46.7 million in the first half of 2025.
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Investment in Infrastructure
During this period, PPA S.A. made investments amounting to €106.7 million in infrastructure and equipment projects, significantly accelerating its investment program. Total assets reached €750.3 million, indicating an 8.8% increase compared to the end of 2025.
The decrease in revenues and consequently profits compared to the same period in 2025 is attributed to the reduced performance of Pier I. This decline is mainly related to the sharp increase in domestic loading in the first half of 2025, which was driven by concerns over potential tariffs on global trade. Additionally, mandatory investment projects 5.5 and 5.7 are currently underway at Pier I, leading to a temporary reduction in storage capacity in the stored areas and impacting loaded capacity.
These investments are strategically important and are expected to bring significant improvements in capacity, productivity, efficiency, and overall operational capacity of Pier I in the coming years, preparing it to handle increased cargo volumes after the full reopening of the Suez Canal.
Furthermore, revenues from Pier II and III have also increased, which is a positive sign stemming from improved loading performance in recent months, significantly contributing to the organization's revenue and profitability. This positive change has become particularly stronger since July and will be reflected in the third quarter of the fiscal year 2026.
The CEO of PPA S.A., Mr. Su Shidong, stated: "The performance of the first half of 2026 confirms the resilience of the Port of Piraeus and its readiness to lead in a challenging global market. We are continuously implementing a comprehensive investment program driven by digital and ecological transformation, which not only enhances our operational capabilities but also maintains our sustainability and reduces our environmental impacts."
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