The Piraeus Port Authority S.A. (OLP S.A.), operator of Greece’s largest port, reported an 11.3% year-on-year rise in third-quarter (Q3) revenue to 194.7 million euros, supported by stronger performance in its container and cruise segments.

Net profit after tax increased 8.3% to 76 million euros, while EBITDA rose 8% to 111.5 million euros, the company said in a statement announcing its Q3 results.

OLP said it maintained robust liquidity and financial strength, despite the repayment of 26.5 million euros in bank loans and the distribution of 48 million euros in 2024 dividends.

Revenue growth was driven primarily by the Container Terminal, Cruise Terminal activity and by concession income from Piers II and III, which offset weaker results of the Car Terminal, Coastal Shipping and the Shipbuilding/ Repair Zone activities.

At Container Terminal Pier I, total cargo throughput rose 32%, while the number of homeport cruise passengers increased 10.2% to 915,758 and transit passengers climbed 17.1% to 646,098, over the same period last year.

The company added that coastal shipping activities also posted solid growth, reflecting strong momentum in the Greek tourism and transport sectors.

OLP said the improved results reflect both higher revenues and effective cost management despite continued inflationary pressures.