Piraeus Port Authority S.a. · ATHEX:PPA
Piraeus Port Authority — Investor Presentation (September 2025)
42 slides from Piraeus Port Authority's investor presentation, September 2025
Slide 1: Piraeus Port Authority Corporate Presentation 1H25
Piraeus Port Authority CORPORATE PRESENTATION 1H25 1
Slide 2: PPA facilities: A port with dynamic present
PPA facilities: A port with dynamic present 2
Slide 3: Feeder Network of Piraeus
Feeder Network of Piraeus 3
Slide 4: 1H25 Highlights
1H25 Highlights Strong Cash Net Profitability position enhancement Cash Balances at +15.3% y-o-y €177.8m Revenue increase Zero Bank of +14.7% y-o-y Debt 4
Slide 5: P&L Highlights
P&LHighlights 2024 Highlights Revenues (€ m) 150 100 50 72.0 93.1 102.4 107.1 122.8 0 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) and EBITDA mgn. (%) 80 100% 60 40 58.9% 50% 57.3% 56.4% 43.5% 47.2% 20 31.3 43.9 60.3 61.3 69.3 0 0% 1H21 1H22 1H23 1H24 1H25 EBITDA (left axis) EBITDA mgn % (right axis) 5
Slide 6: P&L Expenses
P&L Expenses (€ m) 1H25 1H24 (€ m) 1H25 1H24 Revenue 122.8 107.1 Payroll and employee related 36.3 34.2 Cost of Sales -50.1 -44.8 costs Third party fees 3.0 1.6 Gross profit 72.7 62.2 Third party services 7.2 6.5 Administrative expenses -15.3 -14.7 Net impairment losses on Depreciation and Amortizat
Slide 7: Balance sheet
Balance sheet Cash and Cash Equivalent (€ m) Net debt (€ m) -2.9 -50.6 -75.6 -118.6 -118.2 114.4 155.3 173.1 209.1 177.8 1H21 1H22 1H23 1H24 1H25 1H21 1H22 1H23 1H24 1H25 Amounts in € m 1H21 1H22 1H23 1H24 1H25 Long-term Borrowings 41.5 35.5 29.5 23.5 - Long-term Leases 63.0 61,8 60.6 59.5 58.2 Shor
Slide 8: Balance Sheet
Balance Sheet (€ m) 1H25 2024 (€ m) 1H25 2024 Fixed Assets 397.5 358.0 Long-term debt - 20.5 Right-of-use assets 52.5 53.4 Lease liabilities 58.2 60.6 Other non-current liabilities 91.8 91.1 Other non-current assets 19.2 20.2 Trade accounts payable 25.1 27.9 Inventories 3.6 3.5 Trade and other Short
Slide 9: 1H25 Cash Flow
1H25 Cash Flow -60.5 106.4 202.5 205 (Amounts in € m) 9
Slide 10: Volume Evolution
Volume Evolution 1H25 1H24 Chg. % Cruise (passengers) 637,492 549,442 16.0% Coastal Shipping (passengers) 7,264,174 7,223,263 0.6% Vehicle Traffic (units) 1,418,974 1,403,133 1.1% Car Terminal (units) 138,517 124,698 11.1% Ship Repair Activity (vessels) 131 130 0.8% Docks (vessels) 53 76 -30.3% Cont
Slide 11: Cargo Handling Activities, Cruise Sector, Ferry Terminal
Cargo Handling Activities Cruise Sector Ferry Terminal 16.2 m passengers Increased by 7.9% y-o-y Concession Container Arrangement Car Terminal Terminal: Pier 1 11
Slide 12: Container Terminals
Container Terminals • Top 5 largest container ports in Europe (in terms of throughput) • Hub for transhipment in the Mediterranean and Black Sea countries • One of the fastest growing terminals globally • Ideal gateway to the East Mediterranean • Serves 24x7 the largest shipping companies and has ro
Slide 13: Concession Arrangement Pier 2&3
Concession Arrangement Pier 2&3 Revenues (€ m) Traffic in TEUs (‘000) 66.5 70.1 82.7 87.4 81.7 4,897 4,696 4,352 4,587 4,228 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 EBITDA (€ m) FY24 Revenues at €81.7m, -6.5% y-o-y FY24 EBITDA at €69.8m, -7.5% y-o-y, 85.4% mgn. 54.4 59.5 72.4 75.4 69.8 TEU
Slide 14: Concession Arrangement Pier 2&3
Concession Arrangement Pier 2&3 Revenues (€ m) Traffic in TEUs (‘000) 2,370.9 2,248.2 2,144.1 2,054.9 1,958.1 34.1 39.3 41.5 37.7 46.2 1H21 1H22 1H23 1H24 1H25 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) 1H25 Revenues at €46.2m,+22.7% y-o-y 1H25 EBITDA at €39.9m, +23.7% y-o-y, 86.3% mgn. 28.7 34.4 36.1 32
Slide 15: Container Terminal Pier 1
Container Terminal Pier 1 • Pier 1 has an annual capacity of about 1.0m TEU and total storage area of 72.400 m² • Total Pier Length: 1.150m, Max depth: 18m • Pier I can serve Mega container vessels 1H25 Revenues increased by 41.2% y-o-y at €32.5m 1H25 EBITDA reached €7.9m (190.1% y-o-y, 24.3% mgn.)
Slide 16: Container Terminal: Pier 1
Container Terminal: Pier 1 Revenues (€ m) Volumes in TEUs 2024 2023 % Local 232,252 172,148 34.9% T/S 331,473 342,234 -3.1% 24.3 29.6 40.0 45.4 50.0 Total 563,725 514,382 9.6% 2020 2021 2022 2023 2024 EBITDA (€ m) Local Transshipment 3.9 7.5 7.4 498,815 331,473 480,912 342,134 445,949 -7.4 -4.0 232,
Slide 17: Container Terminal: Pier 1
Container Terminal: Pier 1 Revenues (€ m) Volumes in TEU 1H2025 1H2024 % Local 137,379 106,837 28.6% T/S 256,497 146,714 74.8% 14.0 21.5 22.1 23.0 32.5 Total 393,876 253,552 55.3% 1H21 1H22 1H23 1H24 1H25 Local Transshipment EBITDA (€ m) 256,497 260,759 243,448 199,621 146,714 137,379 106,837 2.6 2.
Slide 18: Car Terminal
Car Terminal • Leading Car terminal in Eastern Europe • Act as transshipment hub for Eastern Mediterranean, Balkans and Black Sea countries • Currently operates 1 terminal of approx. 145,000 m2 with storage capacity of 6,700 cars • Multiple port facilities 1H25 Revenues at €12.7m (-23.2% y-o-y) 1H25
Slide 19: Car Terminal
Car Terminal Revenues (€ m) Volumes 2024 2023 % Local 137,825 153,381 -10.1% T/S 109,775 163,920 -33.0% 11.1 14.1 17.5 21.1 27.1 Total 247,600 317,301 -22.0% 2020 2021 2022 2023 2024 EBITDA (€ m) Traffic (units) Local Transshipment 328,988 234,238 163,920 218,880 109,775 116,732 153,381 137,825 2.4
Slide 20: Car Terminal
Car Terminal Revenues (€ m) Volumes 1H25 1H24 % Local 80,578 79,401 1.5% T/S 57,939 45,297 27.9% 7.5 9.4 10.3 16.5 12.7 Total 138,517 124,698 11.1% 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) Traffic (units) Transshipment Local 58,289 59,364 82,269 80,578 159,140 79,401 128,928 92,286 2.1 4.7 5.5 10.8 7.4
Slide 21: Passenger Traffic Activities
Passenger Traffic Activities Cruise Sector Ferry Terminal 21
Slide 22: Cruise Terminal
Cruise Terminal • Close proximity to tourist destinations in the Aegean Sea • Operates (24x7) 3 passenger stations (15,000 m2) with 20 x-ray machines and offers free shuttle bus service around the cruise port • 9-11 simultaneous berthing places including 2-3 berths for the largest cruise vessels • M
Slide 23: Cruise Terminal
Cruise Cruise Terminal Sector Revenues (€ m) Passenger Traffic (‘000 passengers) Homeport Transit 1,698,877 1,484,788 Covid-19 880,416 outbreak 303,665 2.0 9.5 17.6 26.3 30.4 16,640 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 EBITDA (€ m) Cruise calls Homeport Transit 16.8 14.7 810 760 677 9.6
Slide 24: Cruise Terminal
Cruise Cruise Terminal Sector Revenues (€ m) Passenger Traffic Homeport Transit 637,737 549,442 494,164 239,416 26,460 2.0 5.5 8.9 10.0 13.1 1H21 1H22 1H23 1H24 1H25 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) Cruise calls Homeport Transit 316 288 272 236 59 0.2 2.6 4.6 5.0 7.0 1H21 1H22 1H23 1H24 1H25 1H
Slide 25: Ferry Terminal
Ferry Terminal • Among the largest passenger port in Europe • Provides access to key tourist destinations in Athens within 30 minutes • Operates multiple daily coastal connections to most of the Aegean islands • Offers free shuttle bus service around the coastal port 1H25 Revenues at €4.6m, (-15.2%
Slide 26: Ferry Terminal
FerryFerry Terminal Terminal Revenues (€ m) Passenger Traffic (in m passengers) Coastal Line Saronic Gulf Salamis 17.1 16.2 15.0 11.9 8.3 9.4 11.4 11.8 12.5 10.4 2020 2021 2022 2023 2024 EBITDA (€ m) 2020 2021 2022 2023 2024 4.1 5.1 5.7 6.0 6.1 2020 2021 2022 2023 2024 26
Slide 27: Ferry Terminal
FerryFerry Terminal Terminal Revenues (€ m) Passenger Traffic (in m passengers) Coastal Line Saronic Gulf Salamis 7.3 7.2 6.7 6.1 3.5 4.7 5.1 5.4 4.6 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) 3.8 1.4 1.9 2.5 2.4 1.7 1H21 1H22 1H23 1H24 1H25 1H21 1H22 1H23 1H24 1H25 27
Slide 28: Ship Repair Zone
Ship Repair Zone Floating Dock Piraeus Perama Ship Repair Yard Lifting I nternal Length (m) Capacity (tn) breadth(m) Floating Dock Piraeus I I I 22,000 240 35 Floating Dock Piraeus I I I 4,000 113 18 Floating Dock Piraeus I 15,000 202 31 Graving Dry-Dock Vasiliadi Coast, Drapetsona Large Grav ing Dr
Slide 29: Ship Repair Zone
Ship Repair Zone Revenues (€ m) Vessels (units) Vessels/Docks Vessels/Ship Repair Total 405 413 424 418 375 264 280 270 275 254 141 133 154 143 121 13.8 13.4 15.0 15.8 15.9 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 EBITDA (€ m) Docks Working days 4.8 4.3 5.6 5.9 5.6 958 1161 1304 1439 1389 2
Slide 30: Ship Repair Zone
Ship Repair Zone Revenues (€ m) Vessels (units) Docks Ship Repair Total (Docks & Ship Rep) 223 224 203 206 184 143 139 130 131 118 80 85 85 76 53 7.4 8.0 8.9 8.6 7.3 1H21 1H22 1H23 1H24 1H25 1H21 1H22 1H23 1H24 1H25 EBITDA (€ m) Docks Working days 2.7 3.4 3.7 3.6 2.3 657 734 819 731 627 1H21 1H22 1H
Slide 31: Performance Evolution
Performance Evolution 230.9 219.8 194.6 149.2 154.2 132.9 132.9 129.5 111.5 116.0 103.5 95.6 87.5 67.5 70.3 56.7 58.0 66.8 52.9 34.7 28.5 35.4 36.8 27.9 26.4 6.7 11.3 2016 2017 2018 2019 2020 2021 2022 2023 2024 Sales EBITDA Net Profit 31
Slide 32: Performance Evolution
Performance Evolution 122.8 107.1 102.4 93.1 70.6 72.0 69.3 66.5 63.5 61.3 60.3 52.0 43.9 46.7 31.7 31.3 38.7 40.4 31.1 25.7 25.9 15.2 13.2 15.9 15.5 14.9 4.2 1H17 1H18 1H19 1H20 1H21 1H22 1H23 1H24 1H25 Sales EBITDA Net Profit 32
Slide 33: Segment Information
Segment Information CONTAINER CONSESSION SHIP OTHER 2024 RORO CRUISE FERRY COMPANY TOTAL TERMINAL PIER II & III REPAIRING SEGMENTS Revenues 50.0 81.7 27.1 30.4 12.5 15.9 13.3 0.0 230.9 Gross Profit 6.7 77.3 18.2 18.4 6.4 3.7 5.1 0.0 135.9 EBITDA 7.4 69.8 16.6 16.8 6.1 5.6 8.1 -0.8 129.5 EBT -0.3 66.
Slide 34: Segment Information
Segment Information CONTAINER CONCESSION OTHERS 1H25 RORO CRUISE FERRY SHIP REPAIR COMPANY TOTAL SEGMENTS PIER I PIER II & III Revenue 32.5 46.2 12.7 13.1 4.6 7.3 6.5 0.0 122.8 Gross Profit 8.1 43.8 8.0 7.8 1.4 1.2 2.3 0.0 72.7 EBITDA 7.9 39.9 7.4 7.0 1.7 2.3 3.9 -0.9 69.3 EBT 4.0 38.0 6.4 6.3 0.8 1
Slide 35: Share price movement
Share price movement 50.0 40.0 30.0 20.0 10.0 Sep-24 Oct-24 Nov-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 35
Slide 36: Investment Plan
Investment Plan Concession Agreement Accumulated Investment Mandatory Enhancement Item Name Reference Amount Amount ME01 Passenger Terminal Expansion (South Zone - Phase A) 136,283,800 49,977,826 ME02 (completed) Repair of pavements, rails and RMG cranes of Pier I Container Terminal 8,000,000 7,075,
Slide 37: Other Investments
Other Investments 1. Construction of a Cruise Passenger Terminal 2. Development of a logistic center of 80,000m² (Budgeted cost: EUR80m) (Budgeted cost: EUR60m) 3. Construction of 2 car park buildings in G2 area (Budgeted cost: EUR27m) 37
Slide 38: Distributions to Shareholders
Distributions to Shareholders Dividend per Share Dividend yield (%) Dividend Payout ratio (%) 3.00 6.6% 6.4% 7.0% 5.8% 2.50 6.0% 5.0% 2.00 3.6% 4.0% 1.50 3.0% 2.1% 1.00 2.0% 0.50 1.0% 0.40 0.63 1.04 1.336 1.92 40% 45% 50% 50% 55% 0.00 0.0% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 • Proposed
Slide 39: Significant Achievements
Significant Achievements ✓ The port of Piraeus celebrated 20 Years of listing on the Athens Stock Exchange on Aug-2023 ✓ The company’s commitment to Sustainable Development has already led to its participation in the ATHEX ESG Index of the Athens Stock Exchange ✓ Τhe Port of Piraeus ranked 7th inter
Slide 40: Contribution and High Return for the Society
Contribution Cash and Policy Evolution / Dividend High Return for the Society Construction of a new modern park/ Grant of the SILO warehouse to the Ministry of Culture playground for the creation of the Museum of Sea Antiquities 40
Slide 41: Sustainable Development Strategy
CashSustainable Development Evolution / Dividend Policy Strategy ✓ Piraeus Port Authority implements an Environmental Policy, considering the European and International standards ✓ A specific mechanism has been designed for the evaluation of the environmental performance of all port activities ✓ The
Slide 42: Contact details
Contact details: Nektarios Demenopoulos Ioannis Karalis Melina Spyropoulou Deputy Manager IR Officer IR Officer PR, IR & Company PR, IR & Company PR, IR & Company Announcements Dpt. Announcements Dpt. Announcements Dpt. Tel.: +30 210 4550226 Tel.: +30 210 4550276 Tel.: +30 210 4550340 Mob.: +30 694
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