Scroll to top

OLP: Reduction of turnover 5.8% in the first half of the year

In the first half of 2020, the turnover of OLP amounted to 66.5 million euros, compared to 70.6 million in the corresponding period of 2019, showing a decrease of 5.8% (4.1 million euros).

According to the company, this change is mainly due to the significant decrease in revenues from the Cruise Sector by 83.9% (3.7 million euros), the revenues of the Shipping Sector by 32.8% (1.6 million .)), as well as revenues from Car Traffic by 28.3% (EUR 2.2 million).

This decrease was mainly offset by an increase in revenue at the Container Station by 17.8% (€ 2 million) and revenue from Shipbuilding Repair by 21.8% (€ 1.4 million).

The total expenses amount to 44.8 million euros, compared to 49.4 million euros in the first half of 2019 (-9.2%).

Profits before taxes in the first half amounted to 20.9 million euros, compared to 21.9 million euros in the corresponding period of 2019, reduced by 4.7%, while profits after taxes amounted to 15.5 million euros, reduced by 2.2%, compared to 15.9 million euros in the first half of 2019.

The Chairman of the Board of OLP SA, Yu Zenggang, commented that, “despite the undeniable impact of Covid-19 on the activities of OLP , we are making great efforts to reduce the negative side effects on our financial results. The second half is expected to be even more difficult, due to the impact on Cruise and Shipping. However, we are strengthening our actions in all other sectors, especially in Container and Car Terminal “.