Port of Thessaloniki delivers record revenue
Thessaloniki Port Authority achieved its most robust financial and operational performance to date in fiscal year 2025. Despite a challenging global supply chain landscape, the port reported record-breaking revenue, profitability, and container throughput.
Group revenue surged to €107.4 million, marking a €6.7 million or 6.7% increase compared to 2024. This growth was predominantly fueled by an €8 million rise in container terminal revenue, representing an 11.3% increase. Cruise and ferry revenue saw a significant uplift of 21.9%, while real estate income grew by 5%. In contrast, conventional cargo terminal revenue experienced a decline of 5.5%, a trend attributed to the broader contraction observed in the Balkans conventional cargo market.
Container throughput reached an all-time high of 617,000 TEUs, an increase of 51,000 TEUs or 9.1% over 2024, underscoring a sustained upward trajectory. Conventional cargo throughput, however, decreased by 398,000 tonnes to 2.8 million tonnes, aligning with regional market dynamics.
Profitability metrics demonstrated strong performance. EBITDA rose by 13.1% to €48.2 million, with the EBITDA margin reaching an impressive 44.9%, significantly exceeding the average of prior years. Gross profit grew by 7% to €50.3 million, and net earnings after tax increased by 9.7% to €30.8 million, equating to earnings per share of €3.06. Operating cash flow surpassed €34.8 million.
In recognition of this performance, the Board of Directors has proposed a dividend of €2.2 per share for 2025, a 10% increase from the previous year. This proposal is subject to shareholder approval at the Annual General Meeting scheduled for May 12, 2026.
Since privatization in March 2018 through December 2025, total investments have exceeded €89.6 million. This includes €22.5 million in mandatory concession-related investments and over €67.1 million in additional capital allocated to infrastructure upgrades, mechanical and IT equipment, and digitalization initiatives. Capital expenditure in 2025 alone reached €12 million. A significant acceleration in investment is planned for the 2026 to 2030 period, following the November 2025 contract signing with the METKA-TEKAL consortium for the expansion of Pier 6.
CEO Dr. Ioannis Tsaras hailed 2025 as a landmark year, characterized by record-breaking results and the commencement of the port’s most substantial development project in its modern history. He emphasized that the Pier 6 expansion is a transformative investment poised to more than double container terminal capacity. This enhancement will allow for the simultaneous handling of multiple Ultra Large Container Vessels, each up to 24,000 TEU, thereby reinforcing Thessaloniki’s position as a critical trade gateway for Southeast, Central, and Eastern Europe.