Cosco-managed Piraeus Port Authority reports brisk H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, on Wednesday reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4 million euros compared to 33.2 million euros in the corresponding period of 2022.

After-tax earnings increased by 49.6 percent, totaling 38.7 million euros, compared to 25.9 million euros in 2022.

Turnover increased 10 percent in the first half of the year, totaling 102.4 million euros, the result of higher revenues in practically all port activities. For instance, cruise passenger traffic nearly doubled in the Jan-June period, compared with the first half of 2022.

In a statement, the chairman of the Cosco-managed Piraeus Port Authority, Yu Zenggang, expressed satisfaction over what he called the very positive first-half results, adding that balanced growth and upgraded services have created an integrated, top quality and highly-competitive port facility.