Piraeus Port Authority reports 8.2% revenue decline in first 9 months of 2026

According to the company’s financial results for the third quarter and the nine-month period of 2026, revenue totalled €178.8 million, compared with €194.7 million in the corresponding period of 2025, representing a decline of 8.2%.

Pre-tax profits fell by 20.7% to €76.8 million, compared with €96.9 million a year earlier. Net profit after tax amounted to €59.7 million, down 21.5% from €76 million in the first nine months of the previous year.

Despite the decline in its financial performance, PPA’s management emphasised that the company maintained a high level of profitability while continuing to implement its investment programme without interruption.

Middle East Developments Affect Cargo Flows

Geopolitical developments in the Middle East continued to generate uncertainty in international container shipping and global supply chains.

According to the company, the direct impact on the port’s overall operations remained limited. Nevertheless, demand and commercial flows at the Container Terminal were affected, particularly during the first half of the year.

However, the third quarter saw a positive development in cargo throughput at Pier I, which increased organically by 0.3%, or 524 TEUs, compared with the corresponding quarter of 2025. This marked the first positive quarterly performance recorded by the terminal in 2026.

Meanwhile, revenue from Piers II and III also increased, with the company reporting a significant recovery in container throughput.

Positive Performance in Cruise and Coastal Shipping

In the company’s other business segments, Cruise and the Car Terminal maintained solid performance, although neither reached the record levels recorded in previous years.

Coastal shipping delivered particularly positive results, contributing to the Port Authority’s overall operating performance.

Management attributed the maintenance of high profitability levels to operational discipline and effective cost management, while noting that the revenue shortfall compared with the particularly strong performance of the previous year is gradually narrowing.

Investment Programme Continues

Despite the pressures stemming from the international operating environment, PPA continues to implement its investment programme.

The programme is being financed through the company’s operating cash flows, available cash reserves and short-term credit facilities.