By George Fokianos

The Piraeus Port Authority S.A. (PPA) demonstrated strong resilience and reached new all-time highs in 2025, reaffirming its role as a key pillar of the Greek economy and the global supply chain.

Amid heightened geopolitical pressures and disruptions in global trade, Piraeus maintained its upward trajectory, strengthening both revenues and operating profitability, while preserving a stable dividend policy.

These results reflect the robust performance across the port's business segments—from cruise operations to container handling—and underscore the strategic importance of Piraeus as a major transhipment hub in the Eastern Mediterranean.

According to PPA, total revenue amounted to 250.8 million euros, marking an increase of 8.6% or 19.9 million euros compared to 2024. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 132.3 million euros, up by 2.2%, while net profit after tax stood at 86.2 million euros, representing a marginal decline of 1.5%.

The results confirm the company's strong resilience in the face of significant challenges. Cash reserves stood at 149.8 million euros as of 31 December 2025.

Dividend proposal

The Board of Directors has proposed a dividend distribution of 1.896 euros per share, broadly in line with the 1.92 euro dividend paid in 2024, thereby maintaining a consistent dividend policy with a 55% payout ratio of net profits to shareholders.

Operational performance by sector

Cruise activity recorded a new all-time high in both passenger traffic and revenues, which increased by 24.8%. Strategic planning and targeted partnerships further strengthened Piraeus' position as a leading cruise hub in the Eastern Mediterranean.

The car terminal posted a slight revenue decline of 5.4%, primarily due to extraordinary storage revenues recorded in 2024. At the same time, transhipment cargo volumes increased significantly by 17.6%, highlighting the sector's competitiveness.

Pier I, which is directly managed by PPA, recorded a 17.0% increase in revenues driven by higher cargo throughput and, for the first time in its history, achieved net profitability. Piers II and III reported a 10.8% increase in revenues, despite reduced volumes, particularly in the second half of the year. Overall, container terminal operations demonstrated notable resilience, significantly boosting total revenues across Piers I, II and III, despite the ongoing impact of the Red Sea crisis, which has effectively closed the route via the Suez Canal.

In coastal shipping, revenues declined by 28.4%, mainly due to a reduction in port fees implemented from May 2025, following a request by the Ministry of Maritime Affairs and Insular Policy, aimed at containing ferry ticket prices. This also reflects PPA's positive response within the framework of its Corporate Social Responsibility initiatives.

Passenger and vehicle traffic increased further, reaffirming Piraeus' critical role as a backbone of domestic ferry services and connectivity between mainland Greece and the islands.

The ship repair zone remained highly active in 2025; however, total revenues from ship repair activities decreased by 7.2%, mainly due to the four-month maintenance of one of the docks.

The CEO of PPA, Su Xudong, stated: "2025 confirmed the Organization's steady growth trajectory, with strong financial and operational performance. In a demanding international environment, we delivered another set of positive results while continuing to invest systematically in the port's future. This demonstrates the strength of our strategy and the dedication of the workforce. We remain committed to executing our strategy, creating value for our shareholders and supporting the long-term development of the port and the Greek economy."