PPA S.A.: Piraeus Port a leader in growth and sustainability, says Deputy CEO Angelos Karakostas at Delphi Economic Forum

Despite global headwinds, PPA reported record financial performance in 2024, with net profits reaching €87.4 million — a year-on-year increase of 30.8%. Mr. Karakostas attributed the results to the disciplined execution of a strategy centered on operational diversification and a user-centric approach to port services.

The company’s partnership with COSCO SHIPPING, a majority shareholder and key strategic stakeholder, was highlighted as a critical factor in enhancing Piraeus’ connectivity and competitiveness. COSCO’s involvement, Mr. Karakostas noted, brings not only capital and scale, but also technological and operational expertise. Piraeus now ranks 37th in Lloyd’s List of the world’s top 100 ports and 7th in the Xinhua-Baltic Index. It remains the busiest cargo port in the Mediterranean and the leading passenger port in Europe, with cruise traffic — especially homeporting — continuing to post strong growth, bolstering Greece’s broader tourism economy.

Ongoing investments include the southern expansion of the cruise terminal, upgrades to the car terminal, the revitalization of the ship repair zone, and the dredging of the central port basin aligned with the company’s commitment to environmental stewardship and marine biodiversity, with an emphasis on circular economy principles.

Sustainability remains high on the agenda. Piraeus is the first port in the Mediterranean to be certified as an EcoPort, and participates in multiple EU-backed initiatives aimed at enhancing environmental performance and energy efficiency.