Piraeus Port Authority S.A. · ATHEX:PPA
Piraeus Port Authority — FY2017 Earnings Presentation
46 slides from Piraeus Port Authority's earnings presentation, May 2018
Slide 1: Presentation of Financial Results 2017 in the Hellenic Fund and Asset Management Association
Presentation of Financial Results 2017 in the Hellenic Fund and Asset Management Association May 2018
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 Concession PCT S.A., begins Pier 1 Re-connection Terminal begins agreement operations in Pier 2 Container with the rail operations between PPA and Terminal network of the the Hellenic begins commercial Republic operations port 1930 1997 1999 2002 2003 2004 2
Slide 5: Key Milestones
Key Milestones Piraeus becoming No1 port in Acquisition of Piraeus Port Mediterranean Authority SA majority share by COSCO SHIPPING 2021 2016 2021 2052 Completion of mandatory Investments 5
Slide 6: Piraeus Port map
Piraeus Port map Car Container Terminal Ship Repair Terminal Logistics area P.C.T. Concession Coastal port Cruise Terminal
Slide 7: Overview of PPA Operations
Overview of PPA Operations
Slide 8: Container Terminal
OAM <2 PIRAEUS PORT SHIPPING AUTHORITY S.A. RZ O..0.8.8.8. 8 Container Terminal
Slide 9: Container Terminals
1 Container Terminals Top 10 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) 4.500.000 4.000.000 3.500.000 3.000.000 2.500.000 2.000.000 1.500.000 1.000.000 500.000 - Pier I 2013 2014 2015 2016 2017 Piers II + III 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
OAN PIRAEUS PORT AUTHORITY S.A. d
Slide 15: Car Terminal
4 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
4 Car Terminal vehicles 500,00 450,00 400,00 350,00 300,00 250,00 200,00 150,00 100,00 50,00 Transshipments 0,00 2013 2014 2015 2016 2017 Local 16
Slide 17: Car Terminal Financial Results
4 Car Terminal Financial Results 17
Slide 18: Cruise Operations
OAN cosco PIRAEUS PORT SHIPPING ) AUTHORITY S.A. AZ
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: Top cruise ports in the Mediterranean Sea in 2017
OAN PIRAEUS PORT Top 15 cruise ports in the Mediterranean Sea in 2017 2017 2016 2010 Pore 2017 Growth Growth Rank Rank Rank (.000 pax) 2016/2017 2010/2017 1 1 1 Barcelona (SP) H_-2.712) t 1,1% t 13,3% 2 2 2. Civitavecchia (IT) HE 2.204 g -6,1% tt 11,8% 3 3 4 © Balearic Islands (SP) Mee 2411 e 7,3% >
Slide 21: Cruise passengers
3 Cruise passengers 1.400.000 1.200.000 1.000.000 800.000 Transit Cruise home port 600.000 400.000 200.000 - 2013 2014 2015 2016 2017 21
Slide 22: Cruise Financial Results
3 Cruise Financial Results 22
Slide 23: Coastal Operations
Coastal Operations
Slide 24: Coastal
2 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
2 Coastal passengers 18.000.000 16.000.000 14.000.000 12.000.000 10.000.000 Ferry Saronic 8.000.000 Coastal 6.000.000 4.000.000 2.000.000 - 2013 2014 2015 2016 2017 25
Slide 26: Coastal Financial Results
2 Coastal Financial Results 26
Slide 27: Ship repair
cosco F S PORT SHIPPING Ship repair
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 ▪ Conversion of G1 Car Termina
Slide 29: Ship Repair Financial Results
5 Ship Repair Financial Results 29
Slide 30: Financial Overview
Financial Overview
Slide 31: P&L Overview
P&L Overview Amounts in €000 2013 2014 2015 2016 2017 Revenues 108.630 104.320 99.880 103.496 111.530 Gros s Profit 22.224 22.958 26.150 32.338 38.755 Gross Margin (%) 20% 22% 26% 31% 35% Earnings before 11.825 8.891 9.772 11.039 21.187 Taxes EBITDA 26.239 21.969 23.520 24.657 34.673 EBITDA Margin (
Slide 32: Balance Sheet Overview
Balance Sheet Overview Assets Fixed Assets 287.082 273.451 261.149 255.915 259.383 Other non-current 16.550 17.172 15.776 17.471 14.438 Inventories 2.207 2.137 2.197 2.196 2.313 Trade and other 37.143 36.244 28.606 25.923 25.711 Receivables Restricted Cash 2.913 817 817 15.475 213 Cash and Cash 40.6
Slide 33: Expenses Overview
Expenses Overview Amounts in €000 2013 2014 2015 2016 2017 Payroll and employee related costs 56.418 53.689 51.512 49.333 57.837 Third party fees 2.066 1.347 1.465 1.234 811 Third party services 19.001 17.216 14.554 15.536 12.689 Depreciation- Amortization 15.409 14.195 14.167 14.035 13.455 Taxes an
Slide 34: Balance Sheet Overview: Net Debt
Balance Sheet Overview: Net Debt Amounts in €000 2013 2014 2015 2016 2017 Long-term Borrowings 86.499 80.499 74.499 68.499 62.499 Long-term Leases 486 218 156 93 0 Short-term Portion of 2.333 6.000 6.000 6.000 6.000 Long-term Borrowings Short-term Leases 386 290 61 63 68 Cash and Cash Equivalents 40
Slide 35: Share Performance
Share Performance 19 18 20/4/18: € 16,58 17 16 15 31/12/17: € 15,5 14 10/8/16: € 13,8 13 12 31/12/16: € 13,3 11 10 35
Slide 36: 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) 36
Slide 37: Investment Plan
Investment Plan Mandatory Investments (according to 2016 PPA Participation Nu. Reference Cost (euro) CA) (euro) Expansion of the Passenger Port ΜΕ01 136.283.800 5.451.352 (South Zone, Phase Α) Construction of floors, railways and RMG ΜΕ02 8.000.000 8.000.000 cranes Pier Ι of the Container Terminal C
Slide 38: Investment Plan
MEo1 EXPANSION OF CRUISE PORT (South Zone — Phase A’) 38 IN GENERAL It is located next to existing cruise facilities, creating unified _large- scale infrastructures ready to cope with and meeting all the growing needs and contributing to both tourism development and the emergence of Greece as a tour
Slide 39: Investment Plan
Investment Plan SHIPPING “AH PROJECT LOCATION 39 PROJECT CHARACTERISTICS The new quay will have a length of approximately 1.510,00m with varying depth from -19.00 to -29.50m from the Average Sea Level. Two (2) fully secure berths are foreseen on the inner side of the new port (positions 1 & 2). The
Slide 40: Investment Plan
IN GENERAL The Piraeus Car Terminal area is divided in the following sectors: 1. G1CarTerminal 2. G2 Car Terminal REFERENCE COST 20.000.000€ Expansion of the Car Terminal (lrakleous Priority ME10 Port)
Slide 41: Investment Plan
Investment Plan 7 MILITARY DOCK EXTENSION OF "1 HERACLEOUS | PIER PROJECT CHARACTERISTICS 13 : The project concerns the = expansion of the — existing Irakleos | Pier, which is currently used for ship repair. The existing Pier covers an area of 69,231.00m2 and is located in the southern part of the c
Slide 42: Investment Plan
S The project includes: ee A) Infrastructure for the installation of the new floating dock (projects of civil engineer and electrical engineer). B) Transportation of the existing floating dock Piraeus II to the East Pier. G) Installation of the new floating dock (NFD). REFERENCE COST 55.000.000€ PRI
Slide 43: Investment Plan
Investment Plan Technical Characteristics Length: 240m. Width: 45m, Draft: 18m, Capacity 205,66t Transfer capacity: 80,000t. Lifting capacity: 22,000t. Arrival of the New Floating Dock Purchase Cost € 23.8 mil. Complementary works € 6 mil. 43
Slide 44: Construction of Cruise Passenger Terminal
Additional (non mandatory) Investments IN GENERAL The new Passenger Cruise Terminal, with a total area of approximately 40,000m2, will serve passengers traveling to and from the port of Piraeus. PASSENGER TERMINAL Construction of Cruise Passenger Terminal 44
Slide 45: Conversion of warehouses to 4* and 5*hotels.
Additional (non mandatory) Investments IN GENERAL The project concerns the renovation, reinforcement and conversion of the two warehouses: • the WAREHOUSE Ι 8.870,00m2 to 4* hotel with 150 rooms • The WAREHOUSE ΙΙ 15.000,00m2 to 5* hotel with 200 rooms. Conversion of warehouses to 4* and 5*hotels. 4
Slide 46: 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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