Professional
Added to YB: 2024-08-09
Pitch date: 2024-07-26
PPA.AT [bullish]
Piraeus Port Authority S.A.
+56.95%
current return
Author Info
No bio for this author
Company Info
Piraeus Port Authority S.A. provides port services at the port of Piraeus, Greece. It operates through Container Terminal, Car Terminal, Coasting, Cruise, Ship Repairing, and Other segments.
Market Cap
EUR 997.5M
Pitch Price
EUR 25.93
Price Target
N/A
Dividend
4.81%
EV/EBITDA
6.37
P/E
10.69
EV/Sales
3.51
Sector
Transportation Infrastructure
Category
value
Palm Harbour Capital Portfolio Holding: Piraeus Port Authority S.A.
PPA.AT: Major Greek port, 5th largest in Europe. Cosco owns 67%. €294M mandatory investments, €155.5M completed. Double-digit FCF yield, 25% of market cap in net cash. Risks: trade decline, geopolitics. Competitive advantage from location, infrastructure. Finishing investment program, expect higher dividends. 11x P/E, 7.5x EV/EBITDA.
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