Professional
Added to YB: 2024-08-09
Pitch date: 2024-07-26
PPA.AT [bullish]
Piraeus Port Authority S.A.
+76.24%
current return
Author Info
No bio for this author
Company Info
Piraeus Port Authority S.A., together with its subsidiaries, provides port services in Greece. It operates through Container Terminal; Consession Arrangement Pier II &III; Car Terminal; Coasting; Cruise; Ship repairing; and Other segments.
Market Cap
EUR 1.1B
Pitch Price
EUR 25.93
Price Target
N/A
Dividend
4.17%
EV/EBITDA
7.91
P/E
13.20
EV/Sales
4.18
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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