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PPAIndustrials · Infrastructure Operations · ΧΑ

Piraeus Port (OLP)

€44.100
+0.20(+0.46%)
Close 26/10/2026 · end-of-day price, not real-time

Piraeus Port (OLP) (PPA) closed at €44.100 on 26/10/2026, +0.46% on the day. Market cap €1.1bn, dividend yield 4.30%.

My view
Private · MENTOR takes it into account
+14.8%6M
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26/10/2026Close 44.10+0.46%+14.8% since start

Key statistics

FY2025 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€1.1bn
Enterprise valueDec 2025est.
€1bn
Shares outstandingOct 2026
25m
RevenueFY2025
€250.8m
Employees
1,057
Free float
25.9%
Traded a day, 3-month average
€945.1k

Valuation

FY2025
EV/Salesest.
4.0×
EV/EBITDAest.
7.7×

5 years, on reported full years: 4.5–8.5×, median 5.8×. Today 7.7×, higher than 87% of months.

Dividend yield
4.3%

Margins

FY2025
EBITDA
52.7%
Net
34.4%

Net margin = the shareholders' profit ÷ group revenue.

Financial health

Dec 2025
Net debt
−€89m
Net debt ÷ EBITDA
−0.67×

Growth

Revenue, last yearFY2025
+8.6%
Revenue, 3 yearsFY2022–25, a year
+8.8%

Dividends

FY2025
Yield, last 12 months
4.3%
Per share
€1.896
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+2.6%
3 years, a year
+34.1%
5 years, a year
+24.1%
10 years, a year
+16.3%
Volatility, 1 year
27.9%
Beta to the General Index
0.49×
Deepest fall, 1 year / 5 years
−20.2% / −25.8%
52-week range
€35.40–€49.00
est.worked out by us

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

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Valuation

vs OLTH
MetricPPAOLTH
P/E—12.8
P/B—2.0
P/S4.43.6
EV/EBITDA7.7—
Dividend yield4.3%5.5%
Payout ratio—71.9%
Gross margin—46.2%
Operating margin—35.7%
Net margin34.4%28.0%
ROE—15.5%
Revenue growth (last full year)8.6%6.7%
Net debt−€89.0m−€115.6m
Twelve Data · latest quarter 31/12/2025

Peers: Ports

EV/EBITDADay
Piraeus Port (OLP)PPA7.7+0.5%
Thessaloniki Port (OLTH)OLTH5.8+0.5%
related
GEK TernaGEKTERNA15.8+3.4%
Athens International AirportAIA12.1−0.3%

Not compared: SBLK, SB (dry-bulk shipping)

The company

AI-drafted

PPA operates the port of Piraeus under a State concession running to 2052. It runs Pier I, the car terminal, the cruise and ferry terminals and the Perama ship-repair zone itself, and sub-concessions Piers II and III to PCT, a COSCO company, for a fixed and variable fee.

How it makes moneyH1 2026 · basis: revenue
  • Concession of Piers II & III741.5%
  • Container terminal Pier I720.2%
  • Car terminal710.9%
  • Cruise710.5%
  • Ship repairing76.9%
  • Other segments75.8%
  • Coastal shipping74.2%
It is
  • A port concessionaire: it holds the exclusive right to use and exploit the Piraeus port land zone until 13 February 2052, paying the State 3.5% of revenue.1
  • Part landlord: its largest revenue line is the fee PCT pays for Piers II and III, EUR 46.5m or 41.5% of H1 2026 revenue.7
It is not
  • Not the operator of the whole container port: PCT runs Piers II and III, while PPA handles only Pier I, 241,290 TEU of the port's 2,236,490 TEU in H1 2026.7,8
  • Not a shipping company: it owns no vessels and earns no freight. Nor is it state-controlled — HCAP holds 7.14% while COSCO holds 67%.2,7
Recent developmentsAll company events →
  • Oct 2026The board resolved to set up a wholly owned subsidiary, Piraeus Gate Supply Chain Single-Member S.A., with EUR 30,000 of capital.6
  • Sep 2026In H1 2026 revenue fell 8.8% to EUR 111.9m and net profit fell 24.4% to EUR 35.4m.5,7
  • Sep 2026The H1 report discloses EUR 80m drawn after 30 June under revolving credit facilities with Eurobank and National Bank of Greece, EUR 40m each.7
  • Aug 2026The EGM approved amendments to the articles by 99.94%, permitting a logistics subsidiary and stakes in other companies.4
  • Aug 2026The FY2025 dividend of EUR 1.896 per share (EUR 47.4m) was paid on 7 August.7
  • Apr 2026The 50% cut in domestic ferry ship and passenger fees, in force since 1 May 2025, lapsed on 30 April 2026.7
Key figures
  • Container throughput, Pier I 241,290 TEU H1 20267
  • Container throughput, all piers 2,236,490 TEU H1 20268
  • Cruise passengers 555,155 H1 20267
  • Ferry passengers 7,271,020 H1 20267
  • Car terminal throughput 149,587 H1 20267
Key facts
  • A single customer, COSCO's PCT, accounted for 41.5% of H1 2026 revenue (FY2025: 36.8%).7,1
  • COSCO SHIPPING (Hong Kong) holds 67.00%, HCAP 7.14% and the free float is 25.86%.7,2
  • In H1 2026 revenue fell 8.8% to EUR 111.9m and net profit 24.4% to EUR 35.4m; EBITDA was EUR 56.1m.5,7
  • No bank borrowing at 30 June 2026 (cash EUR 83.1m, leases EUR 58.7m); EUR 80m was drawn on credit facilities after that date.7
  • A dividend of EUR 1.896 per share for FY2025, paid on 7 August 2026, a 55% payout of net profit.3,7,8
Sources
  1. 1.Annual Financial Report 2025PPA S.A. · 31/03/2026official
  2. 2.Company profile and shareholding structurePPA S.A.official
  3. 3.DividendsPPA S.A.official
  4. 4.Extraordinary General Meeting completed, articles amendment approved by 99.94%PPA S.A. · 27/08/2026official
  5. 5.1H 2026 results press release, corrected repetitionPPA S.A. · 29/09/2026official
  6. 6.Resolution to establish a subsidiary companyPPA S.A. · 19/10/2026official
  7. 7.Six-Month Financial Report 2026PPA S.A. · 29/09/2026official
  8. 8.Corporate presentation FY2025 and 1H 2026 results, September 2026PPA S.A. · 29/09/2026official
AI-drafted from the cited sources · 22/10/2026 · v3 · ✓ checked by an independent second modelPiraeus Port Authority SAWebsite ↗
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.