PPA SA announced an increase in its financial figures both at the level of the third quarter and at the level of the 9 months.
In particular, as mentioned in a relevant announcement of the company, the sales of PPA amounted to Euro 113,850 thousand in the period 01.01.2021‐30.09.2021 and to Euro 41,851 thousand during the DG quarter 2021, against Euro 99,381 thousand and Euro 32,878 thousand in the respective periods of the previous year 2020, showing a positive change of 14.56% and 27.29% respectively.
Gross profit amounted to Euro 55,781 thousand in the period 01.01.2021‐30.09.2021 and to Euro 22,364 thousand during the DG quarter 2021, compared to Euro 45,324 thousand and Euro 15,414 thousand in the respective periods of the previous year 2020, presenting positive change of 23.07% and 45.09% respectively.
Earnings before interest, taxes, depreciation, amortization and investment results (EBITDA) of the company, which amounted to Euro 54,021 thousand in the period 01.01.2021‐30.09.2021 and to Euro 22,673 thousand during the DG quarter, compared to Euro 46,676 thousand. and Euro 15,580 thousand in the respective periods of the previous year 2020, showing an increase of 15.74% and 45.53% respectively.
Earnings before interest and taxes (EBIT) amounted to Euro 40,619 thousand in the period 01.01.2021‐ 30.09.2021 and to Euro 18,180 thousand in the DG quarter 2021, compared to Euro 33,479 thousand and Euro 11,187 thousand in the respective periods of previous fiscal year 2020, showing an increase of 21.33% and 62.51% respectively.
Profits before taxes amounted to Euro 38,213 thousand in the period 01.01.2021‐30.09.2021 and to Euro 17,375 thousand in the DG quarter 2021, compared to Euro 31,365 thousand and Euro 10,519 thousand in the respective periods of the previous year 2020, showing an increase of 21.83% and 65.18% respectively.
Profits after taxes amounted to Euro 29,099 thousand in the period 01.01.2021‐30.09.2021 and to Euro 14,005 thousand during the DG quarter 2021, compared to Euro 23,534 thousand and Euro 8,013 thousand in the respective periods of the previous year 2020 , showing an increase of 23.65% and 74.79% respectively.
With 2019 the comparison of the cruise
As pointed out in the announcement, the gradual exit of the economies from the containment measures due to the pandemic, in the second half of 2021 contributed to the recovery of cargo and trafficking. The resumption of the cruise in Greece took place in the second half of the year (May 14) and since the cruise stopped completely in 2020, the exceptional comparison is made with 2019. The number of cruise ships that landed in the first half of 2021 is reduced by 43 , 2% compared to the first half of 2019 (272 compared to 479 in 2019). A decrease of 75.6% is recorded in passengers compared to 2019 (205,760 passengers compared to 844,673 in 2019). In one-month coastal shipping, there is an increase of 8% in passenger traffic (from 8.7 million to 9.4 million) and 7.5% in the passage of vehicles (from 1.8 million to 1.9 million) compared to in the same period of 2020. In the period of the first half of 2021 at the Container Station an increase of 16.6% is recorded in the total handling (from 399,285 TEU to 465,584 TEU). This increase is due to increased handling of domestic cargo by 29.2% (from 69,091 to 89,246 TEU) and by an increase in transhipment load by 14% (from 330,194 TEU to 376,338 TEU). In the same nine-month period, the Car Terminal recorded an increase of 48.8% (from 210,930 to 313,809) in the total cargo as both the domestic (22.9%) and the transhipment cargo increased (59.8%).
In the shipbuilding sector, the ships served in the tanks increased by 13.7% (from 95 to 108) in the first month compared to 2019, but a decrease (8.2%) was recorded in the ships in NEZ (from 207 to 190).
Significant changes in the Loan position and / or capital structure
The total Borrowing of the Company amounted to Euro 47.5 million on 30.09.2021, compared to Euro 50.5 million on 31.12.2020 due to repayment of 2 installments of current loans. Cash and cash equivalents amounted to Euro 109.7 million on 30.09.2021, compared to Euro 111.4 million on 31.12.2020. The financial liquidity of the Company is at a very satisfactory level taking into account the repayment of the dividend for the year 2020 amounting to Euro 10,000 thousand that took place in the third quarter of 2021.
In addition, the investment activity of the Company continues based on its business plan and within the third quarter of 2021 investments of 13.6 million Euros were made compared to 4.1 million Euros in the corresponding period of the previous year.
Equity amounted to Euro 264.9 million on 30.09.2021, compared to Euro 246.0 million on 31.12.2020.
Source From: Capital
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