In a landmark year for OLL S.A., given that 2024 is marked by the start of the privatization process, the port's financial performance appears excellent.
For the first half of 2024, the revenues of OLL S.A. exceed the approved budget targets by 27% and appear increased by 15% compared to the same period in 2023.
Accordingly, the fiscal result (revenue minus expenses) of OLLAE for the first half of 2024 exceeds the approved budget targets by 93% and appears increased by 84% compared to the same period in 2023.
The significant progress in the financial figures of OLLAE is mainly due to the new activities of the Commercial Sector (mainly due to the attraction of vehicle carriers), the continuous development of the Cruise and the increase in the dockings of tourist boats.
Regarding Cruises, it should be noted that the port of Lavrion is the second in Greece in homeporting ship approaches (after Piraeus) and given the existing agreements, this ranking has been secured for 2025.
As regards the Tourist Boat Sector and given the saturation of the port during the summer period, the progress made is due to the attraction of passing boats, mainly during the winter period.
The trend of the first half is expected to continue for the second half of 2024 and it is noteworthy that OLLAE has committed to achieving the highest fiscal result for 2024 of all state ports, according to the approved budgets.
The financial performance of OLLAE has allowed the Board of Directors in recent years to recommend the payment of the highest dividend to the Shareholder and the immediate repayment of all liabilities to the market within 30 days.
The Organization's significant liquidity was secured by recovering debts to OLLAE from previous years, amounting to over 11 million euros.
Notable events of the first half of the year include:
- The significant participation in terms of the number and quality of potential investors in the privatization process of the majority of the shares of OLL SA.
- The approval by the Ministry of National Infrastructure and Transport of the project to expand and upgrade the Pleasure Boat Sector, for which the tender process for the supply and installation of new floating jetties and piers will soon begin.
- The completion of the licensing procedures for the construction of a new health store and the start of the relevant tender process.
- The inclusion in the NSRF of the Attica Region of the project to widen the eastern finger pier, which has been approved by the Ministry of National Infrastructure, which will enable the docking of two additional cruise ships, medium and small in size.
- The completion of the first photovoltaic with an energy performance contract, which was implemented without disbursement by OLL SA.
- The submission of a dossier to the European Union's CEF 2 program for the financing of studies and construction of cold ironing infrastructure. OLL SA submitted the proposal as the coordinator of a consortium, in which other Port Organizations, as well as Bodies relevant to the project, participate.
- The full implementation of measures for the protection of human life, in accordance with the relevant Circular of the Minister of Health and Social Development.
- The significant progress in cooperation with European market actors for the implementation of the UNDERSEC program, as well as cooperation with Greek educational institutions.
Given the course of OLLAAE, the administration of OLLAAE must thank the entire political leadership of the Ministry of National Defense and in particular the General Secretariat of the Interior, as well as all the Services that fall under it, for their undivided assistance, mainly due to the tragic understaffing of OLLA. S.A.
He also owes thanks to the Shareholder (HRADF), the members of the Organization's Board of Directors, the members of the Port Users' Council, the leadership and executives of the Lavrio Port Authority and the Lavrio Customs for the impeccable and effective cooperation.
However, more thanks are due to the few employees of OLL S.A., who, with their daily hard work, not only ensure the robust course of the Organization but also contributed effectively and rapidly to the preparation of the ongoing privatization process.
