PPA S.A. announced its financial results for the first half of 2026, demonstrating revenue resilience and decreasing the negative year-on-year change in earnings compared to the first-quarter results.
Despite the volatile geopolitical environment, the total revenues of PPA S.A. amounted to €111.9 mn., decreased by 8.9% compared to €122.8 mn. in the corresponding period of 2025. Net profits after taxes amounted to €35.4 mn. versus €46.7 mn. in the first half of 2025, recording a decrease of 24.4%. During this period, PPA S.A. implemented investments amounting to €106.7 mn. in infrastructure projects and equipment, thereby significantly accelerating its investment program. Total assets reached €750.3 mn., showing an increase of 8.8% compared to the end of 2025.
The decrease in revenues and, consequently, profits compared to the corresponding period of 2025 is attributed to the reduced performance of Pier I. This is primarily due to the comparison with the elevated domestic cargo throughput recorded during the first half of 2025, driven by fears at the time of potential tariffs being imposed on global trade. Furthermore, the Mandatory Investment 5.5 and 5.7 projects are currently being implemented at Pier I. These projects have led to a temporary reduction in storage capacity within the stacking areas, thereby affecting throughput capacity. It is important to emphasize that these investments are of strategic importance and are expected to bring substantial improvements in capacity, productivity, efficiency, and the overall operational capacity of Pier I in the coming years, ensuring it is ready to handle the increased cargo volumes expected following the full reopening of the Suez Canal.
Additionally, revenues from Piers II and III have also increased, and in fact, this positive sign is driven by better throughput performance in recent months, significantly contributing to the Organization’s revenues and profitability. This positive shift is even stronger from July onwards and will be reflected in the third quarter of Financial Year 2026.
The CEO of PPA S.A., Mr. Su Xudong, stated:
“The performance of the first half of 2026 confirms the resilience of the Port of Piraeus and its readiness to lead in a demanding global market. Guided steadily by digital and ecological transformation, we are implementing an extensive investment program that not only enhances our operational capabilities but also safeguards our sustainability and minimizes our environmental footprint.
In particular, we are accelerating our pace towards the realization of the Logistics Centre, which will generate new revenue streams and increased added value for the local community. We believe that despite the challenging economic environment and numerous uncertainties, we have solid reasons to be optimistic about the prospects of the Piraeus Port Authority.”
