Piraeus Port Authority S.a. · ATHEX:PPA
Piraeus Port Authority — FY2019 Earnings Presentation
39 slides from Piraeus Port Authority's earnings presentation, 2020
Slide 1: Presentation of Financial Results 2019
Presentation of Financial Results 2019
Slide 2: Introductory Information
Introductory Information
Slide 3: At The Cross-Roads of Goods and Passenger Traffic
At The Cross-Roads of Goods and Passenger Traffic Key geographical position for access to three continents - Gateway to Asia/Russia through the Black Sea - Central hub for access to Eastern Europe - Strategic proximity to Northern Africa and Middle Eastern trade channels 3
Slide 4: Key Milestones
Key Milestones Pier 2 Container PPA is listed in PCT S.A. Acquisition of Terminal begins Athens Stock begins Piraeus Port operations Exchange operations Authority S.A. in Pier 2 majority share by COSCO SHIPPING Piraeus 1930 1997 1999 2003 2008 2009 2013 2016 2019 2019 became No1 container port
Slide 5: Piraeus Port map
Piraeus Port map PPA Ship Repair Base Psitalia Biological PPARing Road PIRAEUS PORT AUTHORITY S.A.
Slide 6: Overview of PPA Operations
Overview of PPA Operations
Slide 7: P&L Overview
P&L Overview Amounts in €000 2015 2016 2017 2018 2019 Revenues 99.880 103.496 111.530 132.931 149.222 Gross Profit 26.150 32.338 38.755 59.324 73.957 Gross Margin (%) 26% 31% 35% 45% 50% Earnings before Taxes 9.772 11.039 21.187 42.333 47.606 Earnings after Taxes 8.376 6.699 11.289 27.883 35.447 EBI
Slide 8: Container Terminal
OAM Cosco PIRAEUS PORT SHIPPING AUTHORITY S.A. Container Terminal
Slide 9: Container Terminals
1 Container Terminals Top 5 largest container ports in Europe (in terms of throughput) Hub for transhipment in the Mediterranean and Black Sea Ideal gateway to the East Mediterranean Serves the largest shipping companies and has robust infrastructure capable of serving the largest container
Slide 10: Container Terminal
Container Terminal Source: PortEconomics 10
Slide 11: Container Terminals (TEU)
1 Container Terminals (TEU) 6.000.000 5.000.000 4.000.000 3.000.000 PPA SA PCT SA TOTAL 2.000.000 1.000.000 0 2015 2016 2017 2018 2019 11
Slide 12: Container Terminals Financial Results
1 Container Terminals Financial Results 12
Slide 13: Container Terminals Financial Results
1 Container Terminals Financial Results 13
Slide 14: Car Terminal
Car Terminal
Slide 15: Car Terminal
2 Car Terminal Multiple Hub Car terminal in Eastern Europe Currently operates 2 terminals of approximately 190,000 m2 and 1.5 km of quay wall Railway connection Operates (24x7) surveillance cameras Offers a full array of port facilities Close to zero damage record 15
Slide 16: Car Terminal vehicles
2 Car Terminal vehicles 500,000 450,000 400,000 350,000 300,000 250,000 200,000 Transshipments 150,000 Local 100,000 50,000 0,000 2015 2016 2017 2018 2019 16
Slide 17: Car Terminal Financial Results
2 Car Terminal Financial Results 17
Slide 18: Cruise Operations
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Slide 19: Cruise
3 Cruise The center of the Mediterranean cruise experience Close proximity to tourist destinations in the Aegean Athens being the historical capital of Europe is amongst the top tourist attractions in Greece Total quay length of 2.8 km and draft of up to 11m Comprises slots for coaches and
Slide 20: Cruise Terminal Expansion
Cruise Terminal Expansion “Cruise Terminal Expansion” project Description: 2 - 3 berthing positions for the "new generation" cruise ships of over 280m. long Started on February, 2020 Budget: 100 million euros Co-funded by the European Regional Development Fund up to 95% Construction period: 32 month
Slide 21: Cruise passengers
3 Cruise passengers ‘000 passengers 1200 1000 800 600 Transit 400 Home Port 200 0 2015 2016 2017 2018 2019 21
Slide 22: Cruise Financial Results
3 Cruise Financial Results 22
Slide 23: Coastal Operations
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Slide 24: Coastal
4 Coastal The largest passenger port in Europe Total quay length of 2.8 km and draft of up to 11 m 2.5 MM vehicle traffic 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
Slide 25: Coastal passengers
4 Coastal passengers 18 16 14 12 10 Salamis Saronic Gulf 8 Coastal Line 6 4 2 0 2015 2016 2017 2018 2019 25
Slide 26: Coastal Financial Results
4 Coastal Financial Results 26
Slide 27: Ship repair
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Slide 28: Ship Repair: Selected investments for the revitalization of repair activity in Piraeus
Ship Repair: Selected investments for the 5 revitalization of repair activity in Piraeus Installation of a Panamax size floating dock (80K dwt, 250m) ▪ Reconstruction/ upgrade of infrastructure in Perama ship repair zone ▪ Renovation/ upgrade of existing floating docks ▪ Renovation/ upgrade of infra
Slide 29: Ship Repair/vessel
5 Ship Repair/vessel 450 400 350 300 250 vessel/docks vessel/ship repair 200 TOTAL 150 100 50 2015 2016 2017 2018 2019 29
Slide 30: Ship Repair Financial Results
5 Ship Repair Financial Results 30
Slide 31: Financial Overview
Financial Overview
Slide 32: P&L Overview
P&L Overview Amounts in €000 2015 2016 2017 2018 2019 Revenues 99.880 103.496 111.530 132.931 149.222 Gross Profit 26.150 32.338 38.755 59.324 73.957 Gross Margin (%) 26% 31% 35% 45% 50% Earnings before Taxes 9.772 11.039 21.187 42.333 47.606 Earnings after Taxes 8.376 6.699 11.289 27.883 35.447 EBI
Slide 33: Balance Sheet Overview
Balance Sheet Overview Amounts in €000 2015 2016 2017 2018 2019 Assets Fixed Assets 261.149 255.915 259.383 281.669 274.323 Right-of-use assets 62.984 Other non-current assets 15.776 17.471 14.438 13.590 13.266 Inventories 2.197 2.196 2.313 2.629 3.195 Trade and other Receivables 28.606 25.923 25.71
Slide 34: Expenses Overview
Expenses Overview Amounts in €000 2015 2016 2017 2018 2019 Payroll and employee related costs 51.512 49.333 57.837 55.372 58.163 Third party fees 1.465 1.234 811 761 1.070 Third party services 14.554 15.536 12.689 10.411 11.207 Depreciation- Amortization 14.167 14.035 13.455 14.182 17.261 Taxes and
Slide 35: Balance Sheet Overview: Net Debt
Balance Sheet Overview: Net Debt Amounts in €000 2015 2016 2017 2018 2019 Long-term Borrowings 74.499 68.499 62.499 56.499 50.499 Long-term Leases* 156 93 0 0 66.264 Short-term Portion of Long- 6.000 6.000 6.000 6.000 6.000 term Borrowings Short-term Leases 61 63 69 0 1.143 Cash and Cash Equivalents
Slide 36: PPA Master Plan
PPA Master Plan Cumulative Contracts’ Cost Reference Cost PPA S.A. no (a) Mandatory Investments from the start of (€) Κόστος Αναφοράς(€) Participation Αρ. Πρόσθετες Επενδύσεις each project up to (σε ευρώ) 31/12/2019 1 Passenger Port Expansion 1 (Southern Zone Phase Νέα Αποθήκη A) περιοχή πρώην ΟΔΔΥ
Slide 37: Share Performance
Share Performance 25 23 21 19 17 15 10/8/16: € 13,8 13 11 10/8/2016 10/2/2017 10/8/2017 10/2/2018 10/8/2018 10/2/2019 10/8/2019 10/2/2020 37
Slide 38: Share Capital
Share Capital Others Foreign Inst. Investors Greek Inst. Investors HRADF 7,14% 16,00%* 51,00% * 16% is escrow shares before the completion of mandatory investments (see next table) 38
Slide 39: Thank you for your attention!
Thank you for your attention! Contact details: Tel.: +30 210 4550226 Nektarios Demenopoulos Mob.: +30 694 7931026 Deputy Manager Email: demenopoulosn@olp.gr PR, IR & Company Announcements Dpt. Url: www.olp.gr
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