GRPR

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Report on Greek Ports

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by P&S Advisory

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by P&S Advisory

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by P&S Advisory

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GRP 2016

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2008

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..

2012

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2014

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China Cosco Shipping Corporation Ltd.

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by P&S Advisory

11

GRP 2016



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by P&S Advisory

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GRP 2016

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2005-2014
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by P&S Advisory

17

GRP 2016

 (.000 TEUs)
4.500
4.000

3.976
3.525

3.500

3.723

3.093

3.000
2.500
2.000
1.500

2.011
1.791

1.788

1.872
1.511

1.000

1.147
781

500
0
2008

2009

2010

2011

-7,5%

2012

+146,4%

2013

2015/2005

2007

2015/2010

2006

2015/2014

2005

2014

105,4%

(.000 )
12.000
10.000
8.000

8.278

8.967

9.754

9.904
8.622

8.116

6.000

6.144

5.968

6.363
5.927

4.000
2.000
0
2008

2009

2010

by P&S Advisory

18

2011

+7,4%

GRP 2016

2012

-21,6%

2013

2014/2005

2007

2014/2010

2006

2014/2013

2005

2014

-23,1%

2015

 (.000 )
10.000
9.000
8.000

8.299

8.614

8.595

8.165

8.309

8.031

7.000
6.000

6.099

6.144
5.838

5.000

5.264

4.000
0
2008

2009

2010

2011

+10,9%

2012

2013

-29,7%

2014

-29,6%

2014/2005

2007

2014/2010

2006

2014/2013

2005

(.000 )
40.000
35.000
30.000

32.210

33.979

32.564

34.008

33.718

31.945

30.545

25.000

27.253

27.015

2012

2013

28.320

20.000
15.000
2007

2008

2009

2010

2011

+4,8%

2014/2010

2006

2014/2013

2005

-11,3%

2014/2005

0
2014

-12,1%

(.000 )
3.000
2.500

2.426

2.000

1.986

2.085

2.089

2.355
2.067

1988

1.669

1.500
1.000

2.126

1.296
991

0
2008

2009

2010

by P&S Advisory

19

2011

-3,8%
GRP 2016

2012

-4,6%

2013

2014

+100,6%

2015/2005

2007

2015/2010

2006

2015/2014

2005

2015


To , () 90%
. - - , .
... ..
...
.
2010-2014, o ,
/ : 54
TEUs 2014
40 (39),
Valencia, Algeciras Port Said.

. .. 2015,
2000 transit
5. ,
. , ..
80% / .

. (78,1% 44,7%
2010), (11,7%, 33,7% 2010) .
/ (61,3%) transit .
, , 10 /
, / .
/ .. ,
. A.E., China
COSCO SCLTD, .
,
(logistics). 2014, Liner Shipping Connectivity Index (LSCI)
UNCTAD, 27
(30 2010), Logistics Performance
Indicator (LPI) 44 (54
2010).

2015

2015/2014

3.034.428

1,6%

..

by P&S Advisory

O... ..

293.353

-51,0%

351.407

0,5%

19.551

4,4%

19.046

9,0%

5.273

6,8%

3.723.058

20

GRP 2016

-7,46%

343,0%

2010-2015
400%

146,4%

300%

200%

1,10%

-42,8%

-4,0%

28,6%

100%

..

-100%

...
45,3%

O...
34,0%

/
18,1%

...
81,5%

...
7,9%

1,31% | 1,28% | 0,05%

/
9,4%

2015 2010

100%

2015

/ (U)

..

/ (U)

2015

0,53% | 0,51% | 0,14%

Transshipment 78,09%
11,66%
10,25%

by P&S Advisory

61,34%
24,87%
Transit 13,60%
Transshipment 0,19%
21

GRP 2016

 ()
2014

2014/2013

4.341.950

13,9%

718.899

-6,5%

425.151

-11,6%

423.656

-15,2%

244.959

36,2%

107.395

13,4%

91.615

5,2%

9.727

287,6%

6.363.352

7,36%

.
, , , . , .
,
....
, ,
,
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.
2010-2014

.
,

.

12%

20%
10%

7%

2010-2014

-78%

-62%

-40%

-72%

-26%

-30%

-21,6%

-20%

-37%

-17%

-10%

-50%
-60%
-70%

A/o

-80%

14,2%

6,0%

18,5%

7,1%

/
49,8%

/
68,2%

11,3%

K
6,7%

/o 2,7% | 1,4% | 0,3%

6,7%

2014 2010

100%

/o 3,8% | 1,7% | 1,4% | 0,2%

by P&S Advisory

22

GRP 2016

 ()
2005

2010

2014

2015

2014/2013 : 10,9%
2015/2014 : 27,2%

,
.
12
. ...
,
,
.

2010

100%

99,8%

2014

H 0,2% | 0%

100%
H 0% | 0%

4 ports, 1 vision:

Creating major hub in Eastern Balkans

KAVALA PORTS

 -Car Terminal

2005

2010

2014

2015

379.589

380.346

359.665

341.386

(car terminal) 600.000 . , o (2013)
, transshipment .
, ,
60%
.
, , ,

(transshipmnet), (.. ).
transshipment 1:3.

.
,

. 2 . ,
1,5 .
,

.
4,8%
2014,
,

2014

2014/2013

16.780.579
2.512.981
2.040.921
1.821.595
1.627.538
1.545.432
555.453
533.512
390.860
344.708
141.490
24.795
28.319.864

9,15%
0,80%
-1,30%
7,40%
11,90%
-1,90%
-23,30%
-20,80%
-10,30%
-2,70%
4,10%
-25,36%
4,90%

.
- ,

, . (2010-2014)
.
2014
(2010), ,
.
, ,
,
,
.
.
by P&S Advisory

24

GRP 2016

2014 2010

5,5%

5,7%

6,5%

7,2%

8,9%

59,3%

5,0%

4,1%

5,5%

H
5,8%

7,0%

8,9%

57,8%
/

-70,73%

-57,43%

-33,48%

-15,84%

-12,83%

-12,75%

-11,3%

-11,24%

-10,32%

-9,16%

-8,53%

-2,79%

14,53%

20%
10%
0
-10%
-20%
-30%
-40%
-50%
-60%
-70%

2010-2014

100%

2,5% | 1,4% | 1,3% | / 0,5% | / 0,3%

2,0% | 1,9% | 1,4% | 1,2% | / 0,5% | / 0,1%

2015/2014

2015

. 10 12 o
.

10 2014,
.
, ,
,

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90%
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(), ()
() .
,
home-porting ,
,
.
,
.


2014
1.500 (
718 2005).
,


(2.050 2015),

980.149
647.346
219.805
67.096
30.493
26.356
12.783
3.090
1.090
278
1.988.486

-7,1%
-3,7%
-3,1%
16,0%
74,2%
33,7%
-2,3%
-0,2%
46,3%
-3,8%

.

.
(2010-2015) ,
. ,
,
.
,
991 ,
.

.
, , .
,
(.. , )
- .
, ,
(berth allocation), -
, .

by P&S Advisory

2010

2011

1.388
1.434
1.328
1.144
650
729
385
136
530
0
689

1.370
1.587
1.412
1.070
1.193
606
271
156
752
242
242

26

GRP 2016

2012
1.352
1.570
1.419
1.228
568
728
432
457
125
0
913

2013
1.551
1.832
1.597
1.369
652
811
473
332
632
474
671

2014
1.702
1.742
1.587
1.436
1.091
636
503
238
373
0
973

2015
1.591
1.578
1.446
1.293
1.177
753
581
515
363
278
575

-22,2%

-14,4%

-4,6%

8,45%

2,9%

64,4%

77,1%

213%

202%

2170%

2010-2015

54,9%

28,6%

13,5%

1,0% |
18.5%0,8% | / 0,8% | 0,2%| 0,1%

59,3%

32,5%

11,0%

2015 2010

100%

3,4% |/ 1,3% | 1,5% | 0,6%| 0,1%


&

..,
2014.
.. ..
2015 .
.. 2014 -
.

Portconomics.eu


12 ..
.
2005-2014,
(2005-2009 2010-2014)
,
2009 - 4.
2015 (),
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2008. ..
90 .

by P&S Advisory

31

GRP 2016

 (. )
290
276,4

270
250
230
210

213,0

224,0

216,9

217,8
201,7

190

191,2

190,4

191,9

191,7

2013

2014

170
150
2008

2009

2010

(. )

-0,1%

2012

-5,0%

-10,3%

83,0

61,7

38,9

42,8

40,2

33,9

2007

2008

2009

2010

2011

(. )

9,9%

2012

2013

44,2%

2014/2005

2006

2014/2010

2005

56,1

50,7

47,7

46,9

2014/2013

90
80
70
60
50
40
30
20
10
0

2011

2014/2005

2007

2014/2010

2006

2014/2013

2005

2014

58,4%

100
90,3

80
60

24,0

20,4

29,1
20,7
15,2

0
2007

2008

2009

2010

2011

by P&S Advisory

32

-12,7%

GRP 2016

2012

2014/2010

2006

2014/2013

2005

9,0

7,9

2013

2014

-86,1%

2014/2005

20

56,5

51,0

40

-67,1%

 (. )
350
300
250
200

280,4

278,8

2011

2012

270,2

262,7

2013

2014

180,3

161,5

150
100

293,0

283,0

144,7
106,4

50

2007

2008

2009

2010

-2,8%

-10,3%

2014/2005

2006

2014/2013

2005

2014/2010

146,9%

33,9%

-18,7%

EBITDA
-86,1%

-5,0%

60%
40%
20%
0
-20%
-40%
-60%
-80%
-100%

44,2%

(2010-2014)

49,8%

EBITDA
E

by P&S Advisory

-32,4%

-67,1%

-10,3%

80%
60%
40%
20%
0
-20%
-40%
-60%
-80%
-100%

58,4%

(2005-2014)

33

GRP 2016


2014 12 191,72 ,
0,1%
2013, 191,90 .
,
, , -
. ,
54,4% (104,32 .) 37,2%

, 29,3% (56,28 .) 45,3%
12 .
, 10 16,3%
(31,16 .) 17,41% . (, , ) 63,3% 71,0% 10 .
2014
2013, .

, 2014/2013.
4

K
%

0,32%
0,43%
0,89%
1,36%
1,43%
1,54%
2,05%
2,25%
2,91%
3,06%

- 10

16,23

29,36%
54,41%

- 12

100%

2.956.001
(+18,3%)

3.928.287
(+3,5%)

104.320.264
(+4,0%)

828.000
(-15,4%)

56.280.237
(+9,2%)

2.600.824
(-1,4%)

2.737.786
(-11,7%)

5.859.917
(-5,3%)

4.323.038
(-5,2%)

1.699.350
(-5,6%)

605.769
(-4,9%)

5.579.308
(+1,1%)

191.718.786
0,1%

..
.., 10
()
2005-2014 2005.

2005-2010.
2011
.
. ,

2008-2009, ,
,
. ,
() .. .
. by P&S Advisory

/,
.. ,
..

,

....
H 10 ..


,
() .
2013 , , 10
. , 2007-08,
.

34

GRP 2016

 (Dogs) , ,
.
(Cash cows)
, .
.

,



.

E
,
10

, (
2005-2014) (
2010-2014) .

, ,
. , , 2010-2014
,
. ,
2005-2014 , 2010-2014
, , .

(2005-2014). 2005 = 100

200

195,8
164,6

150

147,1
128,9

100

100

109,4

126,8

121,5

132,3

113,5

116,8

101,4

134,3

119,2
93,1

88,2

120,4

118,3

96,0

90,5

89,1

83,4

85,1

85,5

85,7

2011

2012

2013

2014

103,9

88,7

50

117,4

0
2005

2006

2007

2008

( & )

2009

2010

-10

0,5
0,4
0,3
0,2
0,1
0
-0,1
-0,2

Wild Cats

Stars

Dogs
0

0,05

Cash Cows
0,1

0,15

0,2

0,25

2005-2014
2010-2014
.

Boston Consultants Matrix.

by P&S Advisory

35

GRP 2016


.
() 2005 (2005=100) .
.. 2005 24,6 .
, .. 8,65 . 10 5,66 .

2005-2009 , , 2010-2014. .. 2011
, .. .
10 .. 2005-2008,
2008. 2009
2012
. 2013, 10,95 ., 2014 .
,
, .
2008 , ..
2005.
.
.. . ( ), ..
, ,
-
.. 2009 ( ..
).
( ),
. , ..
.
2009-2014
.
..
.
,
. ,
. 2009, 2010 2011
26,16%, 2012 2013 2014.

by P&S Advisory

36

GRP 2016

0,41%
0,55%
0,62%
1,69%
2,30%
2,33%
2,83%
2,84%
4,05%

- 10

17,01%

37,23%
45,36%

- 12

100%

2014
61.673.585

2009
..
5 .
Hutchinson
.. 2008, 2009.

 (2005-2014). 2005 = 100

350
323

321

300
277

250
200
196

198

182

187

183

193

188

81

90

93

2012

2013

2014

165

150
100

265

261

259

145
134

100

115

113

86

80

85

78

59

50
41

0
2005

2006

MIKTA -10

2007

2008

2009

2010

2011

, 2014/2013
4

-126.000,0 (-1160,0%)

22.958.410,9 (+3,3%)

250.136,0 (-18,3%)

27.977.901,9 (+22,0%)

1.748.173,1 (-2,7%)

337.224,0 (-54,8%)

1.040.964,5 (+8,1%)

2.497.605,5 (+0,4%)

1.417.243,0 (-17,7%)

1.436.549,0 (+26,3%)

1.750.045,0 (+42,4%)

385.331,8 (-32,7%)

61.595.759,6 (+9,8%)
by P&S Advisory

37

GRP 2016



,
2014 12 ,
9,9%,
..
, (EBITDA) 13,5%,

. A,
EBIDTA .

EBITD (2005-2014)
500
431,8

400

287,0

300
243,3

200
100

212,6

100

103,0

280,8

261,0

240,2
164,6

160,0
105,0

84,0

68,0

359,0

128,7

127,0

94,0

99,0

183,0
141,6
106,0

182,0

178,3

90,0

97,0

2012

2013

82,0

0
-106,0

-100
-200
2005

2006

2007

2008

2009

2010

2011

DA -10

10
,
. .
.
10 .
17,1% 2014 12 .
..
10 ..
1,54 . ,

by P&S Advisory

38

GRP 2016

2014

22,4

23,4
170,2

196,9

204,7

208,6

221,8

168,0

79,9

40,8
51,4

28,6

52,1

50

23,2

100

57,6

150

42,7

200

191,6

23,6

24,3

250

26,4

65,6

300

21,9

.., 2005-2014 ( . )

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
...

...

8,6

11,4
4,6

5,1

10,8
5,0

12,2

12,0
4,1

5,2

13,4

9,9

11,4
5,9

13,3

11,9

15

5,8

20

16,4

25

4,4

.., 2005-2014 ( . )

4,8

5,6

5,5

10

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
...

...

2005-2014
(. )
8,9

70

11,6
19,7

13,2
20,5

11,3
22,6

2007

2008

2009

2010

2011

2012

2013

2014

...

by P&S Advisory

10,1
19,2

2006

20,9

2005

23,4

21,4

10

7,6

20

18,0

54,6

30

10,7

12,5

40

17,4

50

11,3

60

0,3

50%
.

,
. ,
,



.
, ,

,
. ,

, 10
,

2007-2011,



(,
).
,

... ..

.. ,
, .
12
3,9%

,
.






.

39

GRP 2016

...

 , 2005-2009 vs. 2010-2014 ( . )

2005-2009: (2,6 .)
2010-2014 (4,7 .)
(+80,7%)

2005-2009 (13 .)
2010-2014 (16,6 .)
(+27,6%)

2005-2009 (0,7 .)
2010-2014 (0,4 .)
(-42,9%)

2005-2009 (1,9 .)
2010-2014 (0,5 .)
(-73,7%)

2005-2009 (1,2 .)
2010-2014 (1,5 .)
(+25,0%)

2005-2009 (18,9 .)
2010-2014 (21,2 .)
(+12,2%)

2005-2009 (2,5 .)
2010-2014 (2,6 .)
(+4,0%)

2005-2009 (6,2 .)
2010-2014 (3,1 .)
(-50%)

2005-2009 (3,8 .)
2010-2014 (0,8 .)
(-78,9%)

2005-2009 (6,8 .)
2010-2014 (3,2 .)
(-52,9%)

2005-2009 (1,4 .)
2010-2014 (2,0 .)
(+42,9%)

2005-2009 (226,0 .)
2010-2014 (128,3 .)
(-43,2%)

. (2005-2009 vs. 2010-2014)

10 -
16,0

0,8

21,2

10 -
28,9

18,9

71,7

167,1

281,6

10 ..


..

by P&S Advisory

40

GRP 2016



..
, .
2014 9,9%
(10%) (...). ,
, (ROA)
(RO) 17,4% 17,3% .
..
,
() 14,1%. , ROA ROE 49,6%
39,6% , . ..
+/-5%.
.. 2014 15,4%. ( - 126.000 -10.000 2013)
.
, ,
.
40%. ,
2013,
18% ROA ROE.
, 2014 3,5%,
37,5%. ROA ROE 34,5%,
. To ... (-13,1%).
ROA ROE 83% 85,4% ,
.
.. 2014
9,2% 2013 22%.
() 11,8%,
2014, 49,71%,
12 . ( ,
) ROE ROA.
2014, ,
, .
48,8% 12,32%.
ROE ROA.
18,3% 26,3%
6,7%, ROA ROE

.
2014
2013, .
, ROA ROE.
2014 ,
( ).
7,6% ROE ROA
26% 24% .
2014,
28,7% ( 22,68% 2014).
ROE ROA
.

by P&S Advisory

41

GRP 2016

 (2013-2014)

( 2013-2014)

23,5%

26,8%

*

3,3%

3,3%

88,1%

-17,1%

41,4%

9,1%

30,1%

-4,9%

-5,2%

-1,4%

3,5%

-5,3%

9,2%

-15,4%

-11,7%

18,3%

-18,3%

-2,7%

8,1%

42,4%

-17,7%

22,0%

( 2013-2014)
...

-14,1%

...

+2,6%

...

9,7%

...

37,5%

...

-13,1%

...

11,8%

...

( -126.000)

...

-54,8%

-48,8%

...

26,3%

6,7%

ROA

ROE

49,6%

39,6%

ROA

ROE

-2,9%

1,2%

ROA

ROE

-18,0%

17,9%

ROA

ROE

-34,3%

-34,5%

ROA

ROE

-83,0%

-85,4%

ROA

ROE

31,2%

34,5%

ROA

ROE

50,3%

44,7%

ROA

ROE

2,0%

-2,6%

ROA

ROE

54,2%

28,5%

-10,7%

4,4%

-16,7%

15,1%

0,3%

0,2%

-2,6%

2,3%

-26,7%

17,2%

25,6%

-18,4%

83,6%

-39,4%

-16,9%

15,0%

-30,8%

* , 2014 2013

by P&S Advisory

42

GRP 2016

20,5%

( 2013-2014)

-10,8%

-4,0%

6,3%

1,1%

0,4%

-4,0%

3,3%

-5,6%

-32,7%

( 2013-2014)
ROA

ROE

-93,3%

-93,2%

ROA

ROE

-24,0%

-26,0%

ROA

ROE

-44,3%

-47,7%

...

-0,7%

...

7,6%

...

-28,7%

14,1%

-11,6%

-4,5%

2,0%

-9,1%

3,2%

12

1,4%

( 2013-2014)

-0,1%

9,9%

( 2013-2014)
...

10,0%

K /
(ROA)

-17,4%

ROE

-17,3%

0,3%

-0,2%

... = / | ROA = / | ROE = /

* () 2013 2014.

by P&S Advisory

43

GRP 2016

 &

 ..

o
, ( ). , 2.665 14 .

. ,
.

, , ,
.
,

2015.

1.380
. ,
,
( )

(2014- )

2017 , .

Damietta ().
.

,
.
7 2015.

2014

, 3,1 . - .

LNG,
, ,
.
.
X TAP.

605,760 (-4,9%)
250.136 (-18,3%)
DA 62.837 (+28%)
71.826
41,29%
ROA 3,77% | ROE 9,47%
1,5
8
K

141.490
(+4,1%)

244.959
(+36,2%)

474
220

2010

245
208

2011

2012

180

2013

146

150

(.000)

209

(.000)

2014

2014

133

136

141

2012

2013

2014

242

2010

2011

2010

2011

2012

2013

2014

O &
(.000)

E (.000)

1.000

80

100%

932

74

72
75,0

810

79,2
73,9

60
637

500

606

567

50%

40

48,1
41,3

20
13

0
2010

2011

2012

2013

0
2010

2014

ROE

2011

2012

2013

2014

2010

RO

60%

2011

2012

2.0
1,8

40%

1,7
1,5

3,8

21,6

9,5

43,1

6,8

2,5

1.0

0.5

-12,8

-33,3

-1,8

0%
-4,9

-20%

1,6

1.5

10%

0%

2014

30%

20%

2013

-10%
-40%
2010

2011

2012

2013

2014

2010

-30%
2010

2011

2012

2013

2014

2,5
2,0
1,5

2,0
1,6

1,6

1,6

1,7

2012

2013

2014

1,0
0,5
0
2010

2011

by P&S Advisory

46

GRP 2016

2011

2012

2013

2014


2014

2013

2014/2013

X ()

244.959

179.912

36,2%

()

141.490 135.869

4,1%

()

2014/2010

2005

2014/2005

219.693

11,5%

250.107

-2,1%

145.558

-2,8%

170.356

-16,9%

2010

474

2014/2013

2014/2005

2013

605.769

637.077

-4,9%

567.192

6,8%

372.162,45

62,8%

250.136

306.141

-18,3%

425.495

-41,2%

75.246,27

232,4%

64.870

44.670

45,2%

-20.777

412,2%

-167.404,33

DA

62.837

49.110

28,0%

-5.351

2010

2014/2010

2014

2005

-86.367,98

684.747

658.208

4,0%

422.647

62,0%

1.309.032,45

-47,7%

1.034.890

1.113.879

-7,1%

757.171

36,7%

189.682,74

445,6%

71.826

73.770

-2,6%

387.898,00

-81,5%

by P&S Advisory

47

GRP 2016

 B ..
, . ,
.
.

,
. ,
3.241
11 .
.

(2014- )
.
- ().

2014

ISPS Code

.
23
2015, .. .

4.323.039 (-5,2%)
1.748.173
DA 1.441.184 (+0,5%)
354.940
40,44%
ROA 6,92% | ROE 8,76%
0,27
: 44

17.478 TEUs (.000)

(-1,3%)

(.000)
2014

2010

16

2011

2012

344.708
(-2,7%)

718.899
(-6,5%)

1.150

24
20

18

17

2013

2014

2010

410

1.019

2011

907

2012

2013

332

2010

2014

58
21
12

2010

2011

389

719

73

57.825
(+185,9%)
53

769

2012

20

2013

2014

2011

2012

354

345

2013

2014

O &
(.000)

E (.000)

6.000

800

50%
39,4

5.656
4.882

4.555

4.558

4.323

600

40%

624

4.000

555

40,4

32,4

30%

400

26,1

355
227

2.000
200

10%

190

0
2011

2012

2013

0
2010

2014

ROE

2011

2012

2014

2010

RO

2%

2013

2014

6,8

0,45

0,4
0,36

2,0

4%
2,7

4%

2012

0,5

6%
3,9

5,3

8,8

8%

2011

8%
9,0

10%

6%

2013

6,9

2010

2%

0,35

0,32

0,3

0%

0,27

2010

-2%
2011

2012

2013

-1,0

0%
-1,4

-2%

20%

21,8

2010

2014

2011

2012

2013

2014

0,2

0
2010

5,0

4,7
4,1

4,0
3,0

3,8

3,8

2011

2012

3,2

2,0
0
2010

by P&S Advisory

48

2013

2014

GRP 2016

2011

2012

2013

2014


2014

(TEUs)

2014/2013

2010

2014/2010

17.716

-1,3%

19.802

-11,7%

12.143

43,9%

2013

17.478

2005

2014/2005

X ()

718.899

768.743

-6,5%

1.149.992

-37,5%

1.091.057

-34,1%

()

344.708

354.251

-2,7%

409.572

-15,8%

377.358

-8,7%

57.825

20.227

185,9%

21.435

169,8%

10.853

432,8%

2014/2005

()

2013

2014/2013

2010

2014/2010

2005

4.323.039

4.558.299

-5,2%

5.655.547

-23,6%

4.603.295

1.748.173

1.797.014

-2,7%

1.231.395

42,0%

517.783

2014
K


DA

931.336

894.197

4,2%

-124.987

1.441.184

1.433.948

0,5%

372.407

10.628.644

9.909.534

7,3%

2.839.156

3.175.905

-10,6%

354.940

226.678

56,6%

623.682

44

49

by P&S Advisory

49

-6,1%
237,6%

-539.352
287,0%

396.779

8.850.729

20,1%

5.529.879

92,2%

4.025.357

-29,5%

553.365

413,1%

-43,1%

114.000

211,4%

61

GRP 2016

65

263,2%

 ..

, . 1.037 , 10 .

50 .
( ..)
(, .)

Ro-Ro, .


45 .
..
100 ,
70
.

(2014- )
30 2015.


.

2014 * ()

2.600.824 (-1,4%)
1.040.965 (+8,1%)
DA 707.397 (-14,5%)
E 6.836
40,02%
ROA 14,52% | ROE 22,78%
: 0,57
: 11

(.000)
2014

107.395

(+13,4% 2013)

533.512
-
(-20,8%)

487
802
794

109
60

2010

2011

2012

95

107

2013

2014

712
673
533

2010

2011

2012

2013

2014

O &
(.000)

E (.000)

4.000

200

42%
41,0
174

3.124

3.000

176

40%

150

2.782
2.451

2.639

40,0

38%

2.601

36,5

36,2

36%
100

2.000

34,3

34%
50

1.000

32%

58

30%
0

0
2010

2011

2012

2013

2010

2014

ROE

2011

2013

2014

21,5

27,7

15%

6,6

8,9

2011

2012

2013

2014

5,0
4,0
3,0

0,3

0,3

2010

2011

2013

2014

0
2010

2014

0,4

0,1

2,2

2,9

2013

0,6

0,2

0%
2012

0,6

0,3

5%

2011

2014

0,5

15%

10%

0%

2013

0,5
14,5

20%

2012

0,6
17,7

20%
22,8

25%

2011

0,7

31,7

30%

2010

2010

25%

10%

0%

RO

35%

5%

2012

3,9

3,8

3,1

2,8

2,8

2013

2014

2,0
1,0
0
2010

2011

by P&S Advisory

2012

51

GRP 2016

2012


2014

2013

2014/2013

X ()

107.395

94.671

13,4%

()

533.512 673.484

-20,8%

2014/2010

2005

2014/2005

487.160

-78,0%

1.252.000

-91,4%

802.040

-33,5%

653.180

-18,3%

2005

2014/2005

2010

2014

2013

2014/2013

2010

2014/2010

2.600.824

2.639.084

-1,4%

2.782.189

-6,5%

2.174.943

19,6%

1.040.965

963.139

8,1%

1.139.787

-8,7%

1.169.112

-11,0%

581.498

734.879

-20,9%

61.027

852,8%

5.011

DA

707.397

827.421

-14,5%

177.663

298,2%

498.606

41,9%

11.505,4%

2.552.948

2.649.158

-3,6%

2.042.983

25,0%

1.022.488

149,7%

1.450.431

1.500.227

-3,3%

720.050

101,4%

685.308

111,6%

6.836

8.254

-17,2%

57.874

-88,2%

20.362

-66,4%

11

12

by P&S Advisory

52

14

GRP 2016

22

 ..

, .

. / Ro/Ro
,
.
6.326 .
80 12
,

781 .
(, )

.

(2014- )

... ..
2015-2018.
,
.
16
2015.

2014

.

.
... ..
Master Plan .

,
(core network)
(TEN-T) ( ).

3.928.287 (+3,5%)
1.750.045 (+42,4%)
DA 939.762 (-22,3%)
175.146
44,55%
ROA 5,74% | ROE 6,69%
0,17
: 19

2.512.981

(+0,8%)

3.096
13
(-33,4%)

4.650

3.096

2.641

(.000)

2014

2.831

2.289

2010

2011

2012

2.492

1.827

2.513
136

2013

2014

2010

156

2011

2012

2013

2014

O &
(.000)

E (.000)

6.000

600

60%
50%

499

4.544
4.287

47,8

4.000

3.928
3.646

411

400

44,5

40%

3.793

32,4

30%

310

27,4
25,0

2.000

20%

200
175

10%
121

0%

0
2010

2011

2012

2013

2014

2010

ROE

2011

2012

2013

RO
20%

15%

0,20

10,2

0,18

0,17

0,17

2012

2013

2014

8,7
3,8

5,7

5,7

6,7

6,7
4,5

0%

0,05

0%
2013

0,19

0,10
5%

2012

2014

0,17

10%

2011

2013

0,15

10%

2010

2012

0,25

13,5

15%

2011

15,8

20%

5%

2010

2014

0
2010

2014

2011

2012

2013

2014

7,5
7,0

7,1

6,5

6,9

7,0

2013

2014

6,5

6,0

6,1

5,5
0
2010

2011

by P&S Advisory

2012

54

GRP 2016

2010

2011


2014
()
()

2013

2.512.981 2.492.036
3.096

4.650

2014/2013

2010

2014/2010

2005

2014/2005

0,8%

2.831.088

-11,2%

2.419.803

3,9%

-33,4%

136

2176,5%

2014

2013

2014/2013

2010

2014/2010

2005

2014/2005

3.928.287

3.793.644

3,5%

4.544.898

-13,6%

3.590.825

9,4%

1.750.045

1.229.339

42,4%

2.173.184

-19,5%

913.240

91,6%

949.869

1.376.867

-31,0%

1.952.094

-51,3%

204.285

365,0%

DA

939.762

1.209.186

-22,3%

1.675.987

-43,9%

556.354

68,9%

14.193.766

13.472.224

5,4%

12.371.432

14,7%

10.647.782

33,3%

2.347.062

2.287.842

2,6%

2.041.526

15,0%

905.501

159,2%

175.146

410.665

309.816

-43,5%

337.280

-48,1%

19

18

by P&S Advisory

55

-57,4%

18

GRP 2016

20

 ..

(core network)
(-).
,
, ,
,
.
ISPS Code

( 80 100 )
.
V .
,
homeport.

(2014- )

2014

18 2015.

.
.

5.859.917 (-5,3%)
1.417.243 (-17,7%)
DA 699.364 (-76,4%)
1.084.301
: 24,19%
ROA: 2,41% | ROE: 4,39%
: 0,82
: 25

2010

16

2011

2012

1.627.538

(+11,9%)

91.615

111

17

18.730 TEUs,
(+2,3%)

19

...
.

18

2013

19

2014

19

2010

102

110

1.865
87

92

1.471

1.454

2012

2013

1.628

2011

2012

2013

2014

2010

()
()

(.000)
2014

1.745

282

226.826
(-6,4%)
158

242
224

227
192

2010

2011

2012

2013

2014

2011

2014

O &
(.000)

E (.000)

7.000

1.500

30%
27,8

6.500

6.672
6.263

1.000

6.186

6.000

24,2

1.084

1.071

20%

5.860

5.778

20,0
16,4

15,9

2010

2011

5.500
500

10%
420

5.000

399
268

0
2010

2011

2012

2013

0%
2010

2014

ROE

2011

2012

2013

2014

RO

40%

2012

2013

2014

20%

2,0

30,0

1,8

15%

14,2

30%

1,5

0,8

0%

2,4

4,4

4,1

5%

6,0

6,6

14,1

10%

0%
2010

2011

2012

2013

2010

2014

2011

2012

2013

2014

2,5
2,22

2,0
1,5

1,1

1,0

10%
10,3

20%

18,2

1,4

1,57

1,66

1,73

2010

2011

2012

1,89

1,0
0,5
0

by P&S Advisory

57

2013

2014

GRP 2016

2010

2011

2012

2013

2014


2014

2014/2013

2013

2014/2010

2010

(TEU's)

18.730

18.300

2,3%

19.330

()

91.615

87.112

5,2%

()

()
()

1.627.538 1.454.631
226.826

242.301

2005

2014/2005

-3,1%

18.537

110.721

-17,3%

218.369

-58,0%

19.317

-100,0%

71.137

-100,0%

1,0%

11,9%

1.865.317

-12,7%

1.582.315

2,9%

-6,4%

282.463

-19,7%

193.719

17,1%

2014/2013

2014/2010

2014

2013

2010

2005

5.859.917

6.186.334

-5,3%

6.671.726

-12,2%

1.923.616

1.417.243

1.722.306

-17,7%

1.091.116

29,9%

-1.196.519

2014/2005
204,6%

555.561

3.475.507

-84,0%

1.454.249

-61,8%

51.019

988,9%

DA

699.364

2.964.439

-76,4%

1.580.761

-55,8%

34.566

1.923,3%

12.666.964

11.568.730

9,5%

8.010.963

58,1%

14.586.030

10.418.142

12.977.686

-19,7%

14.078.882

-26,0%

944.765

1.002,7%

1.084.301

268.264

1,3%

1.119.313

-3,1%

25

27

by P&S Advisory

58

304,2%

1.070.818
51

GRP 2016

64

-13,2%

 ..


,
(core network) (TEN-T)
, (Pan-European
Corridor) IV X.
, .
6.200 12
.
5.000 TEUs,

( )
.
,
.
600.000
..
.
, 34
.

(2014- )

62,3%
E

0,6%

2,6%

34,5%

32 .

..
.
ISO 14.001:04 .

.
(
2015).

2015

67%
.. 8 - . 2016,
,


,
2016
220 .
.
13 2015.
Master Plan 25.
6
(..) ... .

50.881.605 (-9,6%)
24.333.039 (-13,0%)
DA 26.861.416 (-8,70%)
7.169.837
: 47,82%
ROA 17,41% | ROE 19,29%
0,111
420

351.407 TEUs,
(+0,5%)

3.821.001
(-12%)

7.424.217
(+27,2%)

8.290
7.424
350

273

2010

351

6.095

322

318
296

5.264

4.045
3.593

2011

6.810

2012

2013

2014

2015

2010

2011

3.869

2012

3.813

2013

5.838

4.342

2014

3.821

2015

(.000 )
X (.000 )

26.356
35
(+33,7%)

(.000)
2015

26
20

85

16

53

2010

2011

15
12

43

33

2012

2013

25

2014

2015

2010

2011

2012

2013

2014

2015

()
35,0
30,0
25,0

23,8

20,0
15,0
10,0

14,9

5,0
0,0
2010

2011

2012

by P&S Advisory

2013

60

GRP 2016

2014

2015

O &
E (.000)
(.000)

10.000

60.000

5.000 5.021

55.000
50.000

56.280
51.222

52.866

51.560

4.153
50.881

49.617

7.169

5.979

2010

2011

2012

2.968

2013

3.120

2014

2015

49,7

47,8

2014

2015

45.000
40.000

30.000

60%

20.000

40%

15.000

20% 23,3

44,5

2012

2013

31,7

0%

0
2010

2011

2012

2013

2014

2015

2010

2011

ROE
0,20
22,0

30%

0,15

19,3

16,4

15,9

20%

0,15

0,14
0,12

11,8

0,10

0,11

0,11

2012

2013

0,11

7,7

10%

42,7

0,05
0%

0
2010

2011

2012

2013

2014

2015

2010

RO

2014

2015

15,0

17,4

10,0

10,1

7,8

10,5

14,3

20%

14,8

19,4

30%

10,3

9,0

10,2

8,3

5,0

6,7

10%

2011

0%
2010

2011

2012

2013

2014

2015

by P&S Advisory

2010

61

2011

GRP 2016

2012

2013

2014

2015

2015

(EUs)

351.407

2015/2014

2014

2010

2015/2010

349.513

0,5%

273.282

X ()

3.821.001 4.341.950

-12,0%

4.044.618

-5,5%

()

7.424.217 5.838.107

27,2%

8.289.724

-10,4%

2015/2005

-4,0%

2015/2005
3.527.187
8,3%
365.925

8.206.051

-9,5%

24.795

-100,0%

84.716

-100.0%

211.469

-100.0%

26.356

19.720

33,7%

16.029

64,4%

6.069

334,3%

()
()

28,6%

2005

2015

2014

2015/2014

2010

2015/2010

2005

2015/2005

2,5%

47.462.190

7,2%

50.881.605 56.280.238

-9,6%

49.617.466

24.333.039

27.977.902

-13,0%

11.557.575

110,5%

8.655.503

181,1%

24.514.352

28.388.514

-13,6%

9.288.755

163,9%

5.695.859

330,4%

DA

26.861.416

29.424.347

-8,7%

10.381.684

158,7%

8.188.103

228,1%

127.087.934 128.768.713

-1,3%

120.675.957

5,3%

101.187.528

25,6%

13.758.053

17.441.853

-21,1%

17.732.263

-22,4%

17.742.963

-22,5%

7.169.837

3.120.302

129,8%

5.021.741

42,8%

1.213.742

490,7%

420

400

by P&S Advisory

491

62

GRP 2016

591

 ..
O ..
, .
,
(,
), ,
( ,
),
( Ro-Ro ) ( ).

,


40 45 .
,
(88%)
,
, 35. 2008
2009, , ,
,

.

2.350 (1.950 .
400 . ) ,
10,5 .
50.000 ..
-

(2014- )

423.656

(-15,2%)

828.000 (-15,4%)
-126.000
DA 360
60.000
-15,22%
ROA -0,1% | ROE -0,1%
0,3
4,5
11

(.000)
2014

2014

( ).

Master Plan .
()
,
..K. .

TAP.

.

1.821.595
(+7,4%)

13.083
(+84,3%)
26

13
1.822
1.500

1.698
491

597

500

424

2011

2012

2013

2014

2010

1.696
1.620

1.591

2010

2011

2012

2013

2014

2010

2011

2012

2013

2014

O &
(.000)

E (.000)

1.500

400
1.288

1.262

300

3%

1.153

1.000

0,3

0%

303

1,9

-2,9
979
828

-1,0

-5%
200
189

500

-10%
127

100

114

-15%
60

0
2010

2011

2012

2013

2014

-20%
2010

ROE

2011

2012

2013

2014

0,29

-0,1

-0,1
-7,8

0,17

-10,6

-10,2

-0,1

-0,2
-12,7

-9,1

2014

0,2

-3%

0,2

-7%

-9%

2013

0,3

-1%

-5%

2012

0.3

0%
0%

2011

1%

-11,9

2010

RO

1%

-4%

-15,2

0,19
0,17

0,16

0,1

-9%
0,1

-11%
-14%

-13%
2010

2011

2012

2013

2014

0
2010

2011

2012

2013

2014

8,0
6,0

6,8

7,1

6,2

7,4

4,0

4,5

2,0
0
2010

2011

by P&S Advisory

2012

64

2013

2014

GRP 2016

2010

2011

2012

2013

2014

()
()
()

2014

2013

423.656

499.812

1.821.595 1.696.351
13.083

7.099

2014/2013

2010

2014/2010

2005

2014/2005

-15,2%

1.499.662

-71,7%

1.513.580

-72,0%

7,4%

1.590.518

14,5%

1.416.589

28,6%

4.233

209,1%

84,3%

2014

2013

828.000

979.000

-126.000

-10.000

-4.000

-7.000

360

463

4.486.000
1.281.000

DA

2014/2013

2010

2014/2010

-15,4%

1.288.000

-35,7%

2005
1.172.695

-38.000

201.166

2014/2005
-29,4%

-615.000

-301.320

22,2%

-165.000

76.587

-99,5%

4.340.000

+3,4%

5.149.000

-12,9%

7.232.155

-38,0%

675.000

89,8%

891.000

43,8%

137.583

831,1%

60.000

114.000

-47,4%

303.000

-80,2%

2.952.617

-98,0%

11

13

by P&S Advisory

65

17

GRP 2016

19

 ..

,
.
, .

.

,
.. , ,
.
,

.

(2014- )

2014

430 .

340.


.

( ...).

2.737.786 (-11,7%)
337.224 (-54,8%)
DA 998.110 (+2,4%)
197.555
12,32%
ROA: 10,29% | ROE: 13,37%
: 0,30
: 9

: 1.545.432
(-1,9% 2013)

(.000)
2014

.

2014.

27 2015.
... ..

(33 ).

672.368
(-9,7%)
395

745
1.773
1.683

1.545

597

2013

2014

2010

1.420

2010

2011

2012

620

1.575

2011

672

656

2012

2013

2014

O &
(.000)

E (.000)

3.200

1.500

30%
25%

3.099

3.000

2.800

2.994

24,0

2.973
1,014

1.000

2.866

20%

2.738

19,6
15,2

15%

2.600
500
328

2.400

301
224

2011

2012

2013

2014

2011

2012

2013

2010

2014

RO

2011

2012

2014

17,2

0,6

23,0

0,5

15%

20%

0,4

10,3

10,1

10%

0,3

8,6

6,7

13,7

15%

13,4

0,4

10%

2013

20%

26,2

25%

0
2010

ROE

3,7

17,3

2010

30%

5%
198

12,3

10%

0,3

0,3

0,2

5%
5%

0%

0%
2010

2011

2012

2013

2014

2010

2011

2012

2013

2014

5,0
4,7

4,0
3,0

4,0

4,3
3,8

2,9

2,0
1,0
0
2010

2011

by P&S Advisory

2012

67

2013

2014

GRP 2016

2010

2011

2012

2013

2014


2014
()
()

2013

1.545.432 1.575.473
672.368

744.651

2014/2013

2010

2014/2010

2005

2014/2005

-1,9%

1.772.970

-12,8%

1.766.661

-12,5%

-9,7%

596.902

12,6%

276.050

143,6%

2014/2010

2005

2014/2005

2014

2013

2014/2013

2010

2.737.786

3.099.058

-11,7%

2.865.920

-4,5%

1.553.942

337.224

745.281

-54,8%

560.924

-39,9%

-26.364

786.055

780.079

0,8%

1.041.479

-24,5%

70.880

1009,0%

DA

998.110

975.159

2,4%

1.261.609

-20,9%

568.589

75,5%

5.879.448

5.682.538

3,5%

3.980.317

47,7%

2.148.735

173,6%

1.760.124

2.048.315

-14,1%

2.066.563

-14,8%

485.593

262,5%

197.555

301.306

-34,4%

328.173

-39,8%

94.488

109,1%

by P&S Advisory

68

12

GRP 2016

12

76,2%

 ..
- .

200 ,
. ( ,
). ..
,
.
2013
(23,5% ),
(21%) (17%).

(, , Ro-Ro) ( ), .

,
(-).

,
- (homeport) .
1.120 ,
250 ,

(2014- )

2014

Master Plan .
homeporting Celestyal
Cruises ( Louis Cruises).


,
.
, 32 .,


.
.
29 2015.

.

2.956.002 (+18,3%)
1.436.549 (+26,3%)
DA 976.947 (+53,5%)
241.162
48,60%
ROA: 19,66% | ROE: 35,60%
: 0,81
: 9

4.937 TEUs
(+145,4%

390.860
(-10,3%)

9.727

(+287,6)

37
436

4.937

2014

2010

2011

2012

2.012

2013

2014

10
3

2010

2011

2012

2013

2014

2010

17.507
(+4,3%)
18

18

17

17

17

2012

2013

2010

2011

436
422

391

(.000)

2.190

10

(.000)

687

26

(.000)

2.584

430

2014

2011

2012

2013

2014

O &
(.000)

E (.000)

3.500

250

3.000

241

2.501

2.503

2.498

60%
50%

2.956

2500
2.000

48,6

47,7

200

40%

1.983

44,4

45,6

2012

2013

40,2

30%

1.500
100

1.000

20%

100
80

74

10%

500
39

0
2010

2011

2012

2013

ROE

2011

2012

2013

2014

19,7

42,7

27,7

16,6

35,6

2,5

2,0
1,9
12,7

10,5

13,3

34,9

2,5

15%

20%

2014

3,0

20%

30%

2011

25%

36,7

2010

RO

50%

45%

0
2010

2014

1,6

1,5

10%

1,2

1,0
0,8

10%

5%

0%

0,5

0%
2010

2011

2012

2013

2014

2010

2011

2012

2013

2014

2,5
2,0
1,5

1,9

2,2

1,6
1,4

1,0

1,3

0,5
0
2010

2011

by P&S Advisory

2012

70

2013

2014

GRP 2016

2010

2011

2012

2013

2014


2014
(TEU's)
()
()
()

2014/2013

2013

4.937

2.012

145,4%

2014/2010

2010
687

2014/2005

2005

618,6%

9.727

2.510

287,6%

25.645

-62,1%

111.500

-91,3%

390.860

435.829

-10,3%

435.829

-10,3%

357.907

9,2%

17.507

16.784

17.221

4,3%

1,7%

2014

2013

2014/2013

2010

2014/2010

2005

2014/2005

1.982.665

49,1%

1.560.194

2.956.002

2.497.890

18,3%

1.436.549

1.137.807

26,3%

945.764

51,9%

930.261

54,4%

832.532

482.855

72,4%

368.253

126,1%

297.030

180,3%

DA

89,5%

976.947

636.458

53,5%

569.733

71,5%

372.665

162,2%

2.338.560

1.743.517

34,1%

1.002.787

133,2%

628.182

272,3%

1.896.959

2.044.601

-7,2%

2.489.730

-23,8%

662.842

186,2%

241.162

74.250

99.526

142,3%

267.863

-10,0%

by P&S Advisory

71

224,8%

GRP 2016

 ..

,
(core network)
(-).

992 . 6.974
.., .
3.000
8,510 .

(8.000 ..
80.000 .. ), , 2.932
..
450
.

,

(2014- )

2014

ISO 14.001:2004, ISO

9001:2008
.
... ..

.
..
.

.

5.579.309 (+1,1%)
2.497.605 (+0,4%)
DA 1.432.706 (-85,4%)
682.678
44,77%
ROA: 0,94% | ROE: 1,00%
: 0,07
: 38

745

(-41,1%)

2.257
1.161

848

(.000)

2014

555.453
(-23,3%)

1.305

2010

- .
11 2015.
...
.
..
().
.

2011

2012

724

2013

555

2014

1.264

1.059

2010

745

374

2011

2012

2013

2014

O &
(.000)

E (.000)

8.000

1.000
7.233

50%
896

6.783

45,1

6.000

683
5.336

5.519

5.579

561

2.000

493

20%

200

10%

2011

2012

2013

2014

ROE

2011

2012

2013

15%

14,8

2011

2012

21.6%

0,08

1,0
0,4

3,7

0,1

2012

2013

2014

0,9

0
2010

2011

2012

2013

2014

20
17,5

15
10

0,02

0,1

0,4

0%
2011

0,06

0,04

0%

2010

0,09
0,08

0,06
5%

-4%

0,10

0,07

4,1

6%

2014

0,12
0,10

10%

2013

11%

1%

2010

2014

RO

16%

34,9

0%
2010

14,0

2010

33,8

519

400

35,9

30%

600

4.000

44,8

40%

800

13,1

12,5

2010

2011

15,5

11,1

5
0

by P&S Advisory

2012

73

2013

2014

GRP 2016

2010

2011

2012

2013

2014

()
()

2014

2013

2014/2013

2010

2014/2010

2005

2014/2005

555.453

723.991

-23,3%

1.304.817

-57,4%

1.746.056

-68,2%

745

1.264

-41,1%

1.059

-29,7%

2.390

-68,8%

2014

2013

2014/2013

2010

2014/2010

2005

2014/2005

1,1%

7.232.988

-22,9%

7.844.425

-28,9%

5.579.309

5.518.566

2.497.605

2.487.159

0,4%

2.598.853

-3,9%

2.571.951

-2,9%

617.701

9.015.167

-93,1%

209.877

194,3%

420.398

46,9%

DA

1.432.706

9.841.772

-85,4%

1.285.116

11,5%

1.359.893

5,4%

61.535.942

60.918.241

1,0%

49.357.705

24,7%

18.419.295

234,1%

4.247.907

3.686.484

15,2%

4.080.546

4,1%

2.884.442

47,3%

682.678

518.667

31,6%

560.809

21,7%

1.038.272

-34,2%

38

46

by P&S Advisory

74

56

GRP 2016

72

 ..

. ,

. ,


.
..
-

820 . 18 . 1.000.000 TEU .

.
(car terminal)
. (core network) (-),

.

99.880.455 (-4,3%)
: 26.150.566(+13,9%)
DA 23.520.035 (7,1%)
:2.721.825 (+65,6%)
: 26,2%
ROA 2,66% | ROE 5,61%
= 1,11
: 1.129
:

11,4%
10,3%
K 11,9%

13,2%

Car Terminal

67%
..
2016 China COSCO
Shipping Corporation Ltd.
( ) .
22
2015.

( 90 ) -.

.

.

430 kwp .

..
Carnival Cruise line homeporting 2016.

.
business plan
2014-2018.
car terminal.
(P-MIS).
ECOPORT.

European Sea Ports Organization 2015.

ISO 9001:2008 ISO 14001:2004.
(car
terminal) ISO 9001:2008 ISO 14001:2004.

2014-2017.

136 . 95%
.

2015

(2014- )

4,2%
9,0%
40%

293.353 TEUs,
(-51%)

341.386
(-5,1%)

417.934
(-1,7%)

459
644
626
513

578

380
481

491
293

2011

2012

2013

2014

2015

2010

2011

425

360
418

408

2010

341

382

2012

2013

2014

2015

2010

2011

2012

2013

2014

980.149
(-7,1%)

15.809.524
(-5,8%)

(.000)
2015

449

418

598

1.486

18.472
17.656

2011

2012

2013

1.198

1.303
1.056

15.809

15.373

2010

1.145

16.781

15.917

2014

2010

2015

2011

2012

2013

2014

980

2015

()
25,0
20,0
15,0 15,3

15,1

10,0
5,0
0,0
2010

2011

2012

by P&S Advisory

2013

76

GRP 2016

2014

2015

2015

O &
E (.000)
50.000

(.000)

40.000
30.000

120.000
115.000

47.895

20.000
116.721

10.000

9.564

8.782

2011

2012

110.000

2010

108.630

105.128

105.000

3.790

1.644

2.722

2013

2014

2015

106.592

104.320

100.000

30%

99.880

25%

95.000

20%
90.000

26,2
17,9
18,7

22,0

13,9

10%

20,5

0%
2010

2011

2012

2013

2014

2015

2010

2011

2012

2013

2014

2015

ROE
2,0

6,9

7,1

7,6

9%

1,6

1,5

5,3

5,6

1,4
5,7

7%

1,5

1,3

1,3

1,0

1,1

5%
0,5
0%

0
2010

2011

2012

2013

2014

2010

2015

RO

2012

2013

2014

2015

2,0
1,90

1,8

1,79
1,75

2,3

2,3

2,7

3,1

1,9

2,7

2,9

4%

3%

2011

1,7

2%

1,70

1,66

1,6
0%

1,61

0
2010

2011

2012

2013

2014

2015

by P&S Advisory

2010

77

2011

GRP 2016

2012

2013

2014

2015

2015/2014

2015

2014

(EUs)

293.353

598.255

-51,0%

X ()

417.934

425.151

-1,7%

()

15.809.524 16.780.579

2015/2010

2005

2015/2005

513.319

-42,9%

1.394.512

-79,0%

578.192

-27,7%

314.255

33,00

2010

21.773

-5,8%

18.471.761

-14,4%

19.462.643

-18,8%

()

980.149 1.055.556

-7,1%

1.145.402

-14,4%

502.308

95,1%

Car Terminal ()

341.386

-5,1%

380.346

-10,2%

379.589

-10,1%

()

359.665

2015

2014

2015/2014

2010

2015/2010

2005

2015/2005

99.880.455 104.320.264

-4,3%

116.720.754

-14,4%

139.978.022

-28,6%

26.150.566

22.958.411

13,9%

20.879.871

25,2%

24.609.350

6,3%

9.772.290

8.891.465

9,9%

11.332.552

-13,8%

17.082.724

-42,8%

23.520.035

21.969.264

7,1%

26.653.485

-11,8%

26.934.117

-12,7%

DA

3,4%

149.084.204

16,9%

152.025.795

14,7%

193.661.274

213.929.719

-9,5%

243.656.673

-20,5%

80.801.418

139,7%

2.721.825

1.643.893

65,6%

47.894.936

-94,3%

16.356.569

-83,4%

1.129

1.157

174.315.811 168.585.628

by P&S Advisory

78

1.396

GRP 2016

1.686

 ..

140.573.180 (+4,2%)
44.714.392 (+13,2%)
DA: 51.293.562 (+16,1%)
60.107.435
31,81%
ROA 8,80% | ROE 24,35 %
1,77
264

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..
.
.. Yang Ming
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39
. 2013 43
2010 93 .

1.188
685

2010

2011

2012

2013

2014

2015

85,8%

1,0%
1,5%

1,5%

3,8%

2.520
2.108

(.000)
2015

3.034
2.987

3.034.428 TEUs,
(+1,6%)

6,4%

2015

.. (...
..)
.
2009
.
2.960 4,8 . TEU, 22
.
,
950 , 1,4 . TEU. . ...
..
,

, 10
.

O &
E (.000)
(.000)

100.000
88.003

80.000

150.000
134.929

40.000

116.960

60.107

53.754

20.000

104.301

100.000

60.198

60.000

140.573

65.480

14.116

0
2010

72.870
62.752

2011

2012

2013

2014

2015

28,4

29,3

31,8

2013

2014

2015

40%

50.000

30%
25,6

20%
18,1

10%

0
2010

2011

2012

2013

2014

2015

0%
-10%

-1,7

2010

2012

23,9

23,8

6,0
5,6

9,2

22,9

40%

24,4

ROE

20%

4,0

0%

2,2

2,0

-36,3

-20%

2011

2,4
1,9

1,8

1,8

-40%
2010

2011

2012

2013

2014

2010

2015

2011

2012

2013

2014

2015

1,5

1,6

2014

2015

RO

5%

8,3

7,0

1,0

0%

1,4

1,4

2012

2013

1,2

0,5
-5,5

-5%

1,6

1,5

3,3

7,1

10%

8,8

2,0

0
2010

-10%
2010

2011

2012

2013

2014

2011

2015

2014

2015/2014

2010

140.573.180

134.929.179

4,2%

62.752.194

44.714.392

39.498.051

13,2%

-1.061.441

36.877.353

29.931.832

23,2%

-8.115.230

DA

51.293.562

44.184.331

151.445.258 125.440.086

2015
K

16,1

2015/2010
124,0%

-4.772.111

20,7%

22.386.269

576,5%

267.700.640

236.077.312

13,4%

125.894.158

112,6%

60.107.435

14.116.480

325,8%

53.753.955

11,8%

264

261

by P&S Advisory

225

80

GRP 2016

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,

. " - ",
.

,

.
845
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Plan .
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1.699.351 (-5,6%)
385.332 (-32,7%)
DA: 354.834 (-29,6%)
240.462
22,68%
ROA 3,96% | ROE 11,64%
1,94
10

(.000)
2014

2.040.921
(-1,3%)
443.995

2.231
2.146
2.046

2010

2011

2012

2.067

2013

2.041

2014

O &
(.000)

E (.000)

1.850

1.500

40%
1.408

1.800
1.789

31,8

1.801

1.799

30%
1.000

1.750

22,7

22,2

20%

1.735

1.700

1.699

500
411

1.650

10%
274

244

240

0
2011

2012

2013

2010

2014

ROE

3,3

0%
2011

2012

2013

2014

2010

RO
8%

22,3

25%

2011

2012

2013

2014

2,5

7,1

2010

12,1

2,3

20%

6%

2,1

2,0
4,0

4,1

11,6

4%

21.6%

1,9

15%

1,5

10%
2%

1,0

0,6

0,5

4,8

5%

-2,0

-5%
2010

2011

2012

0,5
-0,6

0%

0%

-2%
2013

2014

2010

2011

2012

0
2013

2014

15
10

10,2

13,0

5
0
2010

2011

by P&S Advisory

1,4

1,5

1,5

2012

2013

2014

82

GRP 2016

0,1

0,1

2010

2011

2012

2013

2014


2014
()

2013

2.040.921 2.066.812

2014/2013

2010

2014/2010

-1,3%

2.231.273

-8,5%

2005
2.046.337

2014/2005
-0,3%

2014

2013

2014/2013

2010

2014/2010

2005

2014/2005

1.699.351

1.800.508

-5,6%

1.789.306

-5,0%

1.586.334

7,1%

385.332

572.360

-32,7%

216.966

77,6%

503.362

-23,4%

244.773

441.111

-44,5%

193.323

26,6%

271.723

-9,9%

-29,6%

DA

354.834

504.211

2.103.124

1.981.704

4.070.429

4.218.856

240.462

273.616

10

10

by P&S Advisory

83

275.794

28,7%

493.320

-28,1%

4.026.449

-47,8%

732.646

187,1%

-3,5%

461.552

781,9%

431.589

843,1%

-12,1%

243.685

-1,3%

62.291

286,0%

6,1%

10

GRP 2016

10

. (BSc, MA, PhD (ath, UK), Fulbright

(Columbia, USA)) .
,
.
:
& (), (UNCTAD),
European Sea Port Organisation (ESPO), International Association
of Ports & Harbors (IAPH), International Association of Port Cities
(AIVP), , .
. 2013
edCruise, .
Jean
Monnet (2003-2013),
PORTOPIA (Ports Observatory for Performance
Indicator Analysis). ,
(), alifax (), Norfolk (...)
. -
PortEconomics.eu.
Ports & Shipping (P&S)
Advisory,

. (BSc, Sc(), PhD - (

, ))Shipping, Trade and Transport, University of
the Aegean)
, .
,
,

.. , ,
.
PORTOPIA (Ports Observatory for
Performance Indicator Analysis)
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, master-plans ,
-
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Jean Monnet
.
- PortEconomics.eu.
2014 Ports & Shipping (P&S) Advisory,

.

(BSc
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(
, EM))

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. 2013
, MedCruise,

. , ,
, .

(BSc ( & ), MA
( ), MSc
(Maritime
and
Transport
Economics, Antwerp))

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. PORTOPIA (Ports
Observatory for Performance
Indicator Analysis)
,
Jean
Monnet
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by P&S Advisory

(BSc
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,

.
2013

,
edCruise,

.

.
,
. E

PortEconomics.eu. .

84

GRP 2016

(BSc
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&
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Ports & Shipping Advisory

Ports & Shipping Advisory (P&S Advisory)
,
, ,
.

, , ,
.
P&S Advisory :
,

, ,
,

,

, P&S Advisory

,
, .
, P&S
Advisory - :
1.
-
2. master plan ----
3. -

4. Study of the future of shipping in Cyprus

5. Port business market due diligence study,

6.
SWOT Analysis
Marketing
, P&S Advisory
,
Ernst & Young, Price Waterhouse Coopers, TBS B.V. Rogan Associates.

by P&S Advisory

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GRP 2016

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