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MarketScreener Homepage  >  Equities  >  Athens Stock Exchange  >  Thessaloniki Port Authority Societe Anonyme    OLTH   GRS427003009

THESSALONIKI PORT AUTHORITY SOCIETE ANON

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Thessaloniki Port Authority Societe Anonyme : The effect of COVID-19 on the handling of the Port of Thessaloniki.

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04/21/2020 | 10:58am EDT

PRESS RELEASE

The effect of COVID-19 on the handling of the Port of Thessaloniki.

Thessaloniki, April 21st, 2020

The COVID-19 pandemic has affected all sectors of the global economy, including the global supply chain. ThPA S.A. considers that one of its obligations is to inform the Investment Community about the effects of the spread of the pandemic on the handling of cargo served through the Port of Thessaloniki.

In this context, it is announced that in March, the container and the conventional cargo traffic marked a decrease of 11% and 2.5% respectively, compared to 2019, as a result of the effects of the pandemic. In April, the Container Terminal and the Conventional Port traffic is expected to be reduced by 12% and 24% respectively, compared to 2019.

As the negative impact will become increasingly apparent in the 2nd quarter of 2020 also, it is anticipated, based on current available data, that in the 2nd quarter the throughput of containers and conventional cargo at the Port of Thessaloniki will decrease by some 12% and 27% respectively, compared to the same period of 2019.

In this critical situation for the global community, ThPA S.A. will continue to make every possible effort, with responsibility and awareness of its role, for the smooth operation of the Port and the Supply Chain. In addition, the Company has taken immediate and continuous measures to prevent the risks of COVID-19 and to maintain the work environment safe. Following closely the developments, ThPA S.A. continues to implement all the appropriate measures, to protect the health of the employees and of all the external partners and customers associated with ThPA S.A. activities.

Disclaimer

Thessaloniki Port Authority SA published this content on 21 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2020 14:57:06 UTC

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Financials
Sales 2019 69,0 M 77,9 M 77,9 M
Net income 2019 16,5 M 18,6 M 18,6 M
Net cash 2019 52,9 M 59,8 M 59,8 M
P/E ratio 2019 16,9x
Yield 2019 4,24%
Capitalization 212 M 239 M 239 M
EV / Sales 2018 3,60x
EV / Sales 2019 3,27x
Nbr of Employees 368
Free-Float 25,7%
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Managers
NameTitle
Franco Nicola Cupolo Chief Executive Officer
Sotirios Ioanni Theofanis Chairman
Henrik M. Jepsen Chief Financial Officer & Finance Director
Aggelos Fotiou Vlachos Non-Executive Director
Panagiotis Miltiadi Alevras Independent Non-Executive Director