ATSE:PPA

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Piraeus Port Authority

Executive Summary

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece.


Snowflake Analysis

Excellent balance sheet with proven track record.

Share Price & News

How has Piraeus Port Authority's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PPA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.1%

PPA

2.9%

GR Infrastructure

2.3%

GR Market


1 Year Return

-29.2%

PPA

-33.3%

GR Infrastructure

-21.2%

GR Market

Return vs Industry: PPA exceeded the Greek Infrastructure industry which returned -33.3% over the past year.

Return vs Market: PPA underperformed the Greek Market which returned -21.2% over the past year.


Shareholder returns

PPAIndustryMarket
7 Day-0.1%2.9%2.3%
30 Day-3.5%-4.7%-1.0%
90 Day-2.7%4.3%4.9%
1 Year-26.9%-29.2%-32.5%-33.3%-18.0%-21.2%
3 Year9.9%3.5%-26.6%-32.1%-12.4%-20.0%
5 Year17.4%9.1%-1.1%-14.3%-40.8%-45.2%

Price Volatility Vs. Market

How volatile is Piraeus Port Authority's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Piraeus Port Authority undervalued compared to its fair value and its price relative to the market?

11.54x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PPA (€16.36) is trading above our estimate of fair value (€7.95)

Significantly Below Fair Value: PPA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PPA is good value based on its PE Ratio (11.5x) compared to the XE Infrastructure industry average (13.6x).

PE vs Market: PPA is good value based on its PE Ratio (11.5x) compared to the Greek market (14.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PPA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PPA is overvalued based on its PB Ratio (1.8x) compared to the XE Infrastructure industry average (1.5x).


Next Steps

Future Growth

How is Piraeus Port Authority forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

0.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PPA's forecast earnings growth is above the savings rate (5.7%).

Earnings vs Market: Insufficient data to determine if PPA's earnings are forecast to grow faster than the Greek market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PPA's revenue (0.9% per year) is forecast to grow slower than the Greek market (4.4% per year).

High Growth Revenue: PPA's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PPA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Piraeus Port Authority performed over the past 5 years?

39.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PPA has high quality earnings.

Growing Profit Margin: PPA's current net profit margins (23.8%) are higher than last year (21%).


Past Earnings Growth Analysis

Earnings Trend: PPA's earnings have grown significantly by 39.2% per year over the past 5 years.

Accelerating Growth: PPA's earnings growth over the past year (27.1%) is below its 5-year average (39.2% per year).

Earnings vs Industry: PPA earnings growth over the past year (27.1%) exceeded the Infrastructure industry -28.8%.


Return on Equity

High ROE: PPA's Return on Equity (15.2%) is considered low.


Next Steps

Financial Health

How is Piraeus Port Authority's financial position?


Financial Position Analysis

Short Term Liabilities: PPA's short term assets (€121.9M) exceed its short term liabilities (€37.9M).

Long Term Liabilities: PPA's short term assets (€121.9M) do not cover its long term liabilities (€201.1M).


Debt to Equity History and Analysis

Debt Level: PPA's debt to equity ratio (24.2%) is considered satisfactory.

Reducing Debt: PPA's debt to equity ratio has reduced from 51.3% to 24.2% over the past 5 years.

Debt Coverage: PPA's debt is well covered by operating cash flow (90.9%).

Interest Coverage: PPA's interest payments on its debt are well covered by EBIT (19.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Piraeus Port Authority current dividend yield, its reliability and sustainability?

2.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PPA's dividend (2.59%) is higher than the bottom 25% of dividend payers in the Greek market (2.31%).

High Dividend: PPA's dividend (2.59%) is low compared to the top 25% of dividend payers in the Greek market (5.76%).


Stability and Growth of Payments

Stable Dividend: PPA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PPA's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38%), PPA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Anming Zhang

0.58

Tenure

Mr. Anming Zhang serves as Acting CEO & Director at Piraeus Port Authority S.A. since 2020. He has years of work experience in the shipping industry. Mr. Zhang has extensive experience in container shipp ...


Leadership Team

NamePositionTenureCompensationOwnership
Anming Zhang
Acting CEO & Director0.58yrno datano data
Ioannis Koukis
Financial Managerno datano datano data
Xiaoli Deng
Deputy Chief Executive Officer4yrsno datano data
Jianchun Li
Deputy Chief Executive Officer4yrsno datano data
Angelos Karakostas
Deputy Chief Executive Officer4yrsno datano data

4.0yrs

Average Tenure

Experienced Management: PPA's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anming Zhang
Acting CEO & Director0.58yrno datano data
Che Keung Kwong
Independent Non-Executive Director4yrsno datano data
Sing Chi Ip
Independent Non-Executive Director4yrsno datano data
Zeng Yu
Chairman of the Board of Directors1.08yrsno datano data
Ioannis Moralis
Non Executive Director5.83yrsno datano data
Boming Feng
Non-Executive Director4yrsno datano data
Jianhui Zhu
Non-Executive Director4yrsno datano data
Nikolaos Arvanitis
Independent Non-Executive Director4yrsno datano data
Charalambis Karamaneas
Non-Executive Directorno datano datano data
Apostolos Papapostolou
Non Executive Director0.17yrno datano data

4.0yrs

Average Tenure

57yo

Average Age

Experienced Board: PPA's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Piraeus Port Authority S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Piraeus Port Authority S.A.
  • Ticker: PPA
  • Exchange: ATSE
  • Founded: 1930
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: €409.000m
  • Shares outstanding: 25.00m
  • Website: https://www.olp.gr

Number of Employees


Location

  • Piraeus Port Authority S.A.
  • 10 Akti Miaouli Street
  • Piraeus
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PZEBST (Boerse-Stuttgart)YesOrdinary SharesDEEURAug 2003
PPAATSE (The Athens Stock Exchange)YesOrdinary SharesGREURAug 2003
0FHOLSE (London Stock Exchange)YesOrdinary SharesGBEURAug 2003

Biography

Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. The company operates through Container Terminal, Handling Car, Coasting, Cruise, Ship Repairing, and Other segments. It of ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/08 20:32
End of Day Share Price2020/08/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.