New Risk • Jun 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. High level of non-cash earnings (28% accrual ratio). Minor Risk Dividend is not well covered by cash flows (372% cash payout ratio). Aankondiging • May 06
Piraeus Port Authority S.A. to Report Q1, 2026 Results on May 06, 2026 Piraeus Port Authority S.A. announced that they will report Q1, 2026 results on May 06, 2026 Declared Dividend • Apr 06
Dividend reduced to €1.90 Dividend of €1.90 is 1.3% lower than last year. Ex-date: 3rd August 2026 Payment date: 7th August 2026 Dividend yield will be 5.1%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 27% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 04
Full year 2025 earnings released Full year 2025 results: Revenue: €250.8m (up 8.6% from FY 2024). Net income: €86.2m (down 1.5% from FY 2024). Profit margin: 34% (down from 38% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Infrastructure industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Aankondiging • Apr 02
Piraeus Port Authority S.A. announces Annual dividend, payable on August 07, 2026 Piraeus Port Authority S.A. announced Annual dividend of EUR 1.8960 per share payable on August 07, 2026, ex-date on August 03, 2026 and record date on August 04, 2026. Reported Earnings • Nov 01
Third quarter 2025 earnings released Third quarter 2025 results: EPS: €1.17. Revenue: €72.0m (up 6.0% from 3Q 2024). Net income: €29.3m (down 1.5% from 3Q 2024). Profit margin: 41% (down from 44% in 3Q 2024). The decrease in margin was driven by higher expenses. Aankondiging • Oct 25
Piraeus Port Authority S.A. to Report Q3, 2025 Results on Oct 30, 2025 Piraeus Port Authority S.A. announced that they will report Q3, 2025 results at 10:00 AM, GTB Standard Time on Oct 30, 2025 Reported Earnings • Oct 05
First half 2025 earnings released: EPS: €1.87 (vs €1.62 in 1H 2024) First half 2025 results: EPS: €1.87 (up from €1.62 in 1H 2024). Revenue: €122.8m (up 15% from 1H 2024). Net income: €46.7m (up 16% from 1H 2024). Profit margin: 38% (in line with 1H 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 28
Upcoming dividend of €1.92 per share Eligible shareholders must have bought the stock before 04 August 2025. Payment date: 08 August 2025. Payout ratio is a comfortable 55% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.3%). Higher than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €49.70, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 17x in the Infrastructure industry in Europe. Total returns to shareholders of 280% over the past three years. New Risk • May 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 37% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Apr 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Declared Dividend • Apr 07
Dividend increased to €1.92 Dividend of €1.92 is 44% higher than last year. Ex-date: 4th August 2025 Payment date: 8th August 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 30% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €37.55, the stock trades at a trailing P/E ratio of 13.8x. Average forward P/E is 16x in the Infrastructure industry in Europe. Total returns to shareholders of 170% over the past three years. Aankondiging • Apr 01
Piraeus Port Authority S.A. announces Annual dividend, payable on August 08, 2025 Piraeus Port Authority S.A. announced Annual dividend of EUR 1.9200 per share payable on August 08, 2025, ex-date on August 04, 2025 and record date on August 05, 2025. Buy Or Sell Opportunity • Feb 03
Now 21% undervalued Over the last 90 days, the stock has risen 3.4% to €28.50. The fair value is estimated to be €36.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 6.5% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Buy Or Sell Opportunity • Jan 13
Now 20% undervalued Over the last 90 days, the stock has risen 6.3% to €28.70. The fair value is estimated to be €36.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 6.5% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Buy Or Sell Opportunity • Nov 18
Now 21% undervalued Over the last 90 days, the stock has risen 11% to €27.60. The fair value is estimated to be €34.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 6.5% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €1.19. Revenue: €67.9m (up 9.0% from 3Q 2023). Net income: €29.8m (up 9.6% from 3Q 2023). Profit margin: 44% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year. Aankondiging • Oct 31
Piraeus Port Authority S.A. to Report Nine Months, 2024 Results on Oct 31, 2024 Piraeus Port Authority S.A. announced that they will report nine months, 2024 results on Oct 31, 2024 Reported Earnings • Sep 29
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €62.0m (up 6.1% from 2Q 2023). Net income: €26.6m (up 3.1% from 2Q 2023). Profit margin: 43% (down from 44% in 2Q 2023). The decrease in margin was driven by higher expenses. Aankondiging • Sep 01
Piraeus Port Authority S.A. to Report First Half, 2024 Results on Sep 27, 2024 Piraeus Port Authority S.A. announced that they will report first half, 2024 results on Sep 27, 2024 Buy Or Sell Opportunity • Jul 31
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at €25.20. The fair value is estimated to be €20.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 32%. Upcoming Dividend • Jul 22
Upcoming dividend of €1.34 per share Eligible shareholders must have bought the stock before 29 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.7%). Buy Or Sell Opportunity • Jul 01
Now 21% overvalued Over the last 90 days, the stock has fallen 8.8% to €23.85. The fair value is estimated to be €19.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Jun 21
Now 22% overvalued Over the last 90 days, the stock has fallen 17% to €24.40. The fair value is estimated to be €20.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Jun 05
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 4.1% to €25.10. The fair value is estimated to be €20.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 32%. Reported Earnings • Jun 04
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.56. Revenue: €45.0m (up 2.5% from 1Q 2023). Net income: €13.9m (up 6.9% from 1Q 2023). Profit margin: 31% (up from 30% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €24.95, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total returns to shareholders of 21% over the past three years. Declared Dividend • Apr 07
Dividend of €1.34 announced Shareholders will receive a dividend of €1.34. Ex-date: 29th July 2024 Payment date: 2nd August 2024 Dividend yield will be 5.4%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 39% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: €2.67 (vs €2.12 in FY 2022) Full year 2023 results: EPS: €2.67 (up from €2.12 in FY 2022). Revenue: €219.8m (up 13% from FY 2022). Net income: €66.8m (up 26% from FY 2022). Profit margin: 30% (up from 27% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Mar 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €29.50, the stock trades at a trailing P/E ratio of 9.7x. Average forward P/E is 15x in the Infrastructure industry in Europe. Total returns to shareholders of 60% over the past three years. Aankondiging • Mar 07
Piraeus Port Authority S.A. to Report Fiscal Year 2023 Results on Mar 29, 2024 Piraeus Port Authority S.A. announced that they will report fiscal year 2023 results on Mar 29, 2024 Aankondiging • Oct 25
Piraeus Port Authority S.A. to Report Nine Months, 2023 Results on Oct 25, 2023 Piraeus Port Authority S.A. announced that they will report nine months, 2023 results on Oct 25, 2023 Reported Earnings • Sep 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €58.5m (up 12% from 2Q 2022). Net income: €25.8m (up 94% from 2Q 2022). Profit margin: 44% (up from 25% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Aankondiging • Sep 01
Piraeus Port Authority S.A. to Report First Half, 2023 Results on Sep 29, 2023 Piraeus Port Authority S.A. announced that they will report first half, 2023 results on Sep 29, 2023 Upcoming Dividend • Jul 31
Upcoming dividend of €1.04 per share at 4.6% yield Eligible shareholders must have bought the stock before 07 August 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.80, the stock trades at a trailing P/E ratio of 9.4x. Average forward P/E is 16x in the Infrastructure industry in Europe. Total returns to shareholders of 35% over the past three years. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: €2.12 (vs €1.47 in FY 2021) Full year 2022 results: EPS: €2.12 (up from €1.47 in FY 2021). Revenue: €194.6m (up 26% from FY 2021). Net income: €52.9m (up 44% from FY 2021). Profit margin: 27% (up from 24% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.4% p.a. on average during the next 2 years, while revenues in the Infrastructure industry in Europe are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Director Gordon Kwong was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
First half 2022 earnings released: EPS: €1.04 (vs €0.60 in 1H 2021) First half 2022 results: EPS: €1.04 (up from €0.60 in 1H 2021). Revenue: €93.1m (up 29% from 1H 2021). Net income: €25.9m (up 72% from 1H 2021). Profit margin: 28% (up from 21% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Aankondiging • Sep 01
Piraeus Port Authority S.A. to Report First Half, 2022 Results on Sep 26, 2022 Piraeus Port Authority S.A. announced that they will report first half, 2022 results on Sep 26, 2022 Upcoming Dividend • Jul 18
Upcoming dividend of €0.63 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.0%). Aankondiging • Jul 01
Piraeus Port Authority S.A., Annual General Meeting, Jul 13, 2022 Piraeus Port Authority S.A., Annual General Meeting, Jul 13, 2022, at 11:00 E. Europe Standard Time. Location: 10 AKTH MIAOYL? STR., 18538 PIRAEUS Piraeus Greece Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Gordon Kwong was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 16
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: €1.47 (up from €1.06 in FY 2020). Revenue: €154.2m (up 16% from FY 2020). Net income: €36.8m (up 39% from FY 2020). Profit margin: 24% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 4.4%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Aankondiging • Mar 04
Piraeus Port Authority S.A. to Report Fiscal Year 2021 Results on Mar 14, 2022 Piraeus Port Authority S.A. announced that they will report fiscal year 2021 results on Mar 14, 2022 Reported Earnings • Nov 27
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: €0.56. Revenue: €41.9m (up 27% from 3Q 2020). Net income: €14.0m (up 75% from 3Q 2020). Profit margin: 34% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Oct 01
First half 2021 earnings released: EPS €0.60 (vs €0.62 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €72.0m (up 8.3% from 1H 2020). Net income: €15.1m (down 2.8% from 1H 2020). Profit margin: 21% (down from 23% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Jul 19
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 30 July 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.6%). Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 1.7%. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS €1.06 (vs €1.42 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €132.9m (down 11% from FY 2019). Net income: €26.4m (down 26% from FY 2019). Profit margin: 20% (down from 24% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 23
New 90-day high: €20.40 The company is up 28% from its price of €16.00 on 23 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Infrastructure industry, which is also up 28% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: €18.30 The company is up 20% from its price of €15.30 on 21 August 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Infrastructure industry, which is up 25% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: €18.08 The company is up 8.0% from its price of €16.80 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 9.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of €35.1m, up 15% from the prior year. Total revenue was €145.1m over the last 12 months, up 3.6% from the prior year. 