Piraeus Port Authority S.A. · ATHEX:PPA
Piraeus Port Authority — FY2018 Earnings Presentation
38 slides from Piraeus Port Authority's earnings presentation, Jul 1, 2019
Slide 1: Presentation of Financial Results 2018
Presentation of Financial Results 2018
Slide 2: Introductory Information
Introductory Information
Slide 3: At The Cross-Roads of Goods and Passenger Traffic
At The Cross-Roads of Goods and Passenger Traffic Key geographical position for access to three continents - Gateway to Asia/Russia through the Black Sea - Central hub for access to Eastern Europe - Strategic proximity to Northern Africa and Middle Eastern trade channels 3
Slide 4: Key Milestones
Key Milestones Pier 2 Container Concession PCT S.A. begins Pier 1 Re-connection Terminal begins agreement operations in Pier 2 Container with the rail operations between PPA and Terminal network of the the Hellenic begins commercial Republic operations port 1930 1997 1999 2002 2003 2004 20
Slide 5: Key Milestones
Key Milestones Piraeus becoming No1 port in the Mediterranean 2021 2016 2021 2052 Acquisition of Piraeus Port Completion of Authority S.A. majority mandatory Investments share by COSCO SHIPPING 5
Slide 6: Piraeus Port map
Piraeus Port map PPA Ship Repair Base Psitalia Biological PPARing Road PIRAEUS PORT AUTHORITY S.A.
Slide 7: Overview of PPA Operations
Overview of PPA Operations
Slide 8: P&L Overview
P&L Overview Amounts in €000 2014 2015 2016 2017 2018 Revenues 104.320 99.880 103.496 111.530 132.931 Gross Profit 22.958 26.150 32.338 38.755 59.324 Gross Margin (%) 22% 26% 31% 35% 45% Earnings before 8.891 9.772 11.039 21.187 42.333 Taxes EBITDA 21.969 23.520 24.657 34.673 56.678 EBITDA Margin 21
Slide 9: Container Terminal
OAH << PIRAEUS PORT SHIPPING AUTHORITY S.A NAY 0.2.8.8. @ Container Terminal
Slide 10: Container Terminals
1 Container Terminals Top 10 largest container ports in Europe (in terms of throughput) Hub for transhipment in the Mediterranean and Black Sea Ideal gateway to the East Mediterranean Serves the largest shipping companies and has robust infrastructure capable of serving the largest container
Slide 11: Container Terminal
Container Terminal Source: PortEconomics 11
Slide 12: Container Terminals (TEU)
1 Container Terminals (TEU) 6.000.000 5.000.000 4.000.000 3.000.000 Pier I Piers II + III 2.000.000 1.000.000 - 2014 2015 2016 2017 2018 12
Slide 13: Container Terminals Financial Results
1 Container Terminals Financial Results 13
Slide 14: Container Terminals Financial Results
1 Container Terminals Financial Results 14
Slide 15: Car Terminal
OAT PIRAEUS PORT SHIPPING AUTHORITY S.A. WAZ
Slide 16: Car Terminal
2 Car Terminal Multiple Hub Car terminal in Eastern Europe Currently operates 2 terminals of approximately 190,000 m2 and 1.5 km of quay wall Railway connection Operates (24x7) surveillance cameras Offers a full array of port facilities Close to zero damage record 16
Slide 17: Car Terminal vehicles
2 Car Terminal vehicles 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 Transshipments 0,000 2014 2015 2016 2017 2018 Local 17
Slide 18: Car Terminal Financial Results
2 Car Terminal Financial Results 18
Slide 19: Cruise Operations
OA cosco PIRAEUS PORT SHIPPING } AUTHORITY S.A. SA
Slide 20: Cruise
3 Cruise The center of the Mediterranean cruise experience Close proximity to tourist destinations in the Aegean Athens being the historical capital of Europe is amongst the top tourist attractions in Greece Total quay length of 2.8 km and draft of up to 11m Comprises slots for coaches and
Slide 21: Cruise passengers
3 Cruise passengers 1200,000 1000,000 800,000 600,000 Transit Home Port 400,000 200,000 0,000 2014 2015 2016 2017 2018 21
Slide 22: Cruise Financial Results
3 Cruise Financial Results 22
Slide 23: Coastal Operations
17 N\™. cosco SHIPPING SA
Slide 24: Coastal
4 Coastal The largest passenger port in Europe Total quay length of 2.8 km and draft of up to 11 m 2.5 MM vehicle traffic Provides access to key tourist destinations in Athens within 30 minutes Operates multiple daily coastal connections to most of the Aegean islands Offers free shuttle
Slide 25: Coastal passengers
4 Coastal passengers 18 16 14 12 10 Salamis Saronic Gulf 8 Coastal Line 6 4 2 0 2014 2015 2016 2017 2018 25
Slide 26: Coastal Financial Results
4 Coastal Financial Results 26
Slide 27: Ship repair
17 N\™. cosco SHIPPING
Slide 28: Ship Repair: Selected investments for the revitalization of repair activity in Piraeus
Ship Repair: Selected investments for the 5 revitalization of repair activity in Piraeus Installation of a Panamax size floating dock (80K dwt, 250m) ▪ Reconstruction/ upgrade of infrastructure in Perama ship repair zone ▪ Renovation/ upgrade of existing floating docks ▪ Conversion of G1 Car Termina
Slide 29: Ship Repair Financial Results
5 Ship Repair Financial Results 29
Slide 30: Financial Overview
Financial Overview
Slide 31: Balance Sheet Overview
Balance Sheet Overview Amounts in €000 2014 2015 2016 2017 2018 Assets Fixed Assets 273.451 261.149 255.915 259.383 281.669 Other non-current assets 17.172 15.776 17.471 14.438 13.590 Inventories 2.137 2.197 2.196 2.313 2.629 Trade and other Receivables 36.244 28.606 25.923 25.711 16.094 Restricted
Slide 32: Expenses Overview
Expenses Overview Amounts in €000 2014 2015 2016 2017 2018 Payroll and employee related costs 53.689 51.512 49.333 57.837 55.372 Third party fees 1.347 1.465 1.234 811 761 Third party services 17.216 14.554 15.536 12.689 15.248 Depreciation- Amortization 14.195 14.167 14.035 13.455 14.182 Taxes and
Slide 33: Balance Sheet Overview: Net Debt
Balance Sheet Overview: Net Debt Amounts in €000 2014 2015 2016 2017 2018 Long-term Borrowings 80.499 74.499 68.499 62.499 56.499 Long-term Leases 218 156 93 0 0 Short-term Portion of Long- 6.000 6.000 6.000 6.000 6.000 term Borrowings Short-term Leases 290 61 63 68 68 Cash and Cash Equivalents 54.4
Slide 34: Share Performance
Share Performance 19 18 17 16 15 10/8/16: € 13,8 14 13 12 11 10 8/10/2016 2/10/2017 8/10/2017 2/10/2018 8/10/2018 2/10/2019 34
Slide 35: Share Capital
Share Capital Others Foreign Inst. Investors Greek Inst. Investors HRADF 7,14% 16,00%* 51,00% * 16% is escrow shares before the completion of mandatory investments (see next table) 35
Slide 36: PPA Master Plan (1)
PPA Master Plan (1) Mandatory Investments (according to 2016 PPA Participation Nu. Reference Cost (euro) CA) (euro) Expansion of the Passenger Port ΜΕ01 136.283.800 5.451.352 (South Zone, Phase Α) Construction of floors, railways and RMG ΜΕ02 8.000.000 8.000.000 cranes Pier Ι of the Container Termin
Slide 37: PPA Master Plan (2)
PPA Master Plan bette Nu. Additional Investments Reference Cost (euro) New Warehouse at ODDY Area, area of 80.000 1 60.000.000 sq.m. Construction of two Car Parking Buildings area of 2 27.000.000 75.000 sq.m. each, at G2 area 3 ECO-Buses 5.000.000 4 Construction of Cruise Passenger Terminal 80.000.0
Slide 38: Thank you for your attention!
Thank you for your attention! Contact details: Tel.: +30 210 4550226 Nektarios Demenopoulos Mob.: +30 694 7931026 Deputy Manager Email: [email protected] PR, IR & Company Announcements Dpt. Url: www.olp.gr
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