or elth s. (“the Company”), operator of the Port of Thessaloniki and a leading provider of multimodal transport network and logistics solutions for the Balkans and the wider region of South-Eastern, Central and Eastern Europe, announced its financial results for the financial year 2023.
Specifically, following the Board of Directors’ approval of the annual financial report dated 17.04.2024, it was announced that the group’s total consolidated revenues for 2023 would rise to €85.9 million, from €85.3 million in 2022.
In the container terminal, there was a significant increase of more than 12% (to 59.8 million euros), and in the areas of space exploitation and passenger traffic (sea cruises – coastal shipping) there were significant increases of 18.2% and 31.3%, respectively (to 3.9 million euros and 0. 9 million euros respectively), while the contract charging station recorded a decline in revenues of 21.5% (to 20.2 million euros). Revenues from the subsidiary in Sofia were at insignificant levels.
Regarding the Group's performance, there was a net increase in profitability at all levels: gross profits rose by 1.9% to €37.6 million, operating profit (EBITDA) rose by 3.4% to €34.1 million and group net profit after tax. By 8.9% to 20.3 million euros.
The capital expenditure program for the whole of 2023 exceeded €9.2 million, mainly related to the new “Alexander the Great” cruise terminal, level restoration, platform repair and upgrade, modernization of power substations, purchase of loading/unloading equipment and ISPS safety systems.
The CEO of the Board of Directors, Mr. Athanasios Liagos, said: “The implementation of the development plan and initiatives of THA SA continuously strengthens the role of the Port of Thessaloniki in the global port industry. Through continuous investments of more than 71.3 million euros since 2018, which modernizes equipment, infrastructure and services.” Introduction and dedicated human resources to the organization, we have succeeded in strengthening the confidence of our partners, creating new milestones for the Port of Thessaloniki. Examples include the highest container traffic ever recorded in the port (520,048 TEUs). In addition, in 2023 we strengthened our expansion During OLTH SA's dynamic participation in prestigious national and international exhibitions, and with initiatives to hold events in Thessaloniki, such as 7the “Posidonia Marine Tourism Forum” and 1the “South-Eastern Europe Contact Forum”.
With a vision of being more than just a port and with an international orientation, in 2024 we aim to launch initiatives and actions that promote maximum satisfaction for all port stakeholders and the wider port community, focusing on development, sustainability and investment, with consistency and efficiency. In this context, the “METKA-TEKAL SA JOINT VENTURE” project was announced and the temporary contractor for the project was named “6s “Provlitas, expansion of port infrastructure”, as approved today by the Board of Directors of OLTH SA.
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