Piraeus Port Authority (PPA) reported total revenues of €111.9 million for the first half of 2026, a decrease of 8.9% compared to €122.8 million in the same period of 2025, while net profits after taxes amounted to €35.4 million, down 24.4% from €46.7 million a year earlier. The company attributed the decline primarily to reduced performance at Pier I, where the comparison period had benefited from elevated domestic cargo throughput in early 2025 driven by frontloading ahead of feared global trade tariffs. The ongoing implementation of Mandatory Investment projects 5.5 and 5.7 at Pier I has also temporarily reduced storage capacity within stacking areas, constraining throughput during the works, which PPA said are expected to deliver substantial gains in capacity, productivity and efficiency as the terminal prepares for increased volumes following the full reopening of the Suez Canal.
Despite the earnings decline, PPA’s total assets reached €750.3 million, an increase of 8.8% compared to end-2025, reflecting an accelerated investment programme with €106.7 million deployed in infrastructure projects and equipment during the first half. Piers II and III delivered improved revenues as throughput performance strengthened in recent months, a positive trend the company said has accelerated from July onward and is expected to be reflected in third-quarter results. PPA CEO Su Xudong said the first-half performance confirmed the port’s resilience and readiness to lead in a demanding global market, pointing to the acceleration toward realization of the planned Logistics Centre as a driver of new revenue streams for the port going forward.
Source: Container News — https://container-news.com/port-of-piraeus-reports-revenue-decrease-in-first-half-2026/
Tags: Piraeus, COSCO, Port Finance, Greece, Greek Shipping
