PPAP’s FY’22 Revenue Lifted Despite Q4 Dip

Although public-listed Phnom Penh Autonomous Port’s port operations slipped in the fourth financial quarter, revenue held sway in FY22, rising 20 percent year-on-year
Phnom Penh Autonomous Port (PPAP), December 19, 2022. Kiripost/Siv Channa
Phnom Penh Autonomous Port (PPAP), December 19, 2022. Kiripost/Siv Channa

A two percent dip in revenue was recorded by Phnom Penh Autonomous Port (PPAP) in its fourth financial quarter ended December 31, 2022 (Q422), bringing the total to $8.9 million, compared to $9.1 million a year ago.

Port operations, which made up two thirds of the port’s overall revenue, slipped three percent to $6.7 million from nearly $7 million in Q421, its filing with Cambodia Securities Exchange shows.

However, gains from port authority activities rose 25 percent to $1.1 million as opposed to $905,530 in the corresponding period in 2021.

For the financial year ended December 31, 2022 (FY22), the inland port’s revenue saw a 20 percent growth at $40.8 million versus $34.1 million in FY21, thanks to port operations and port authority fees.

These segments grew 18 percent and 22 percent to $31.8 million and $4.3 million, respectively.

On Wednesday, PPAP shared that container throughput increased 19.7 percent year-on-year to 417,696 TEUs (twenty-foot equivalent units) in FY22 from 348,898 TEUs.

Its cargoes and gas fuel tonnage also grew 5.2 percent to 4.04 million tonnes from 3.8 million tonnes in the corresponding period a year ago.

At the time of writing, the counter was down 0.56 percent at 14,320 riel with 100 shares transacted for a full market capitalization of 296.2 trillion riel (approximately $72.6 million).