DOCSLIB.ORG

Gek Terna Societe Anonyme Holdings Real Estate Constructions

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Gek Terna Societe Anonyme Holdings Real Estate Constructions GEK TERNA SOCIETE ANONYME HOLDINGS REAL ESTATE CONSTRUCTIONS 85 Mesogeion Ave., 115 26 Athens, Greece General Commercial Registry No. 253001000 (former S.A. Reg. No. 6044/06/Β/86/142) ANNUAL FINANCIAL REPORT for the period 1 January to 31 December 2019 In accordance with article 4 of L. 3556/2007 and the relevant executive Decisions by the Board of Directors of the Hellenic Capital Market Commission [page intentionally blank] CONTENTS I. STATEMENTS BY MEMBERS OF THE BOARD OF DIRECTORS ....................................................... 7 II. ANNUAL MANAGEMENT REPORT OF THE BOARD OF DIRECTORS FOR FY 2019 ON CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS ................................................................................... 9 A. Financial Developments and Performance in the Reference Period ........................................... 9 Β. Significant events for the fiscal year 2019 ................................................................................ 10 C. Significant Events after the end of the period 01.01 – 31.12.2019 ............................................ 18 D. Risk Factors and Uncertainties ................................................................................................. 26 E. Alternative Performance Measures (“APMs”) .......................................................................... 30 F. Report concerning Payments to the Government .................................................................... 34 G. Non‐Financial Information Report 2019 .................................................................................. 34 Η. Outlook and Prospects ............................................................................................................ 57 I. Treasury Shares ........................................................................................................................ 60 J. Transactions with Related Parties ............................................................................................. 61 CORPORATE GOVERNANCE STATEMENT .......................................................................................... 68 EXPLANATORY REPORT OF THE BOARD OF DIRECTORS ACCORDING TO ARTICLE 4 OF L. 3556/2007 ............................................................................................................................ 78 III. Independent Auditor’s Report .................................................................................................. 81 IV. ANNUAL FINANCIAL STATEMENTS SEPARATE AND CONSOLIDATED OF 31 DECEMBER 2019 ..... 88 CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION 31ST DECEMBER 2019 ..... 90 CONSOLIDATED AND SEPARATE STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD 01.01‐31.12.2019 ............................................................................................................ 92 CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOWS FOR THE PERIOD 01.01‐31.12.2019 ........................................................................................................................ 94 CONSOLIDATED AND SEPARATE STATEMENT OF CHANGES IN EQUITY FOR 2019 ......................... 96 NOTES ON THE FINANCIAL STATEMENTS ................................................................................................. 99 1. ESTABLISHMENT AND ACTIVITY OF THE COMPANY ......................................................................... 99 2. BASIS FOR THE PRESENTATION OF THE FINANCIAL STATEMENTS ................................................. 101 3. SIGNIFICANT ACCOUNTING ESTIMATES AND MANAGEMENT ASSESSMENTS ............................... 108 3.1 Significant judgments of the Management .................................................................................... 109 3.2 Uncertainty of estimates and assumptions .................................................................................... 109 4. SUMMARY OF KEY ACCOUNTING PRINCIPLES ................................................................................ 113 4.1 Basis for consolidation .................................................................................................................... 113 4.2 Business combinations ................................................................................................................... 116 4.3 Foreign currency translation ........................................................................................................... 117 4.4 Operating segments ........................................................................................................................ 117 4.5 Goodwill .......................................................................................................................................... 118 4.6 Intangible assets ............................................................................................................................. 118 3 4.7 Tangible assets ................................................................................................................................ 120 4.8 Borrowing costs .............................................................................................................................. 121 4.9 Impairment of non‐current assets (intangible, goodwill and tangible assets/investments in consolidated companies) ................................................................................................................ 121 4.10 Investment Property ....................................................................................................................... 122 4.11 Inventory ........................................................................................................................................ 123 4.12 Cash and Cash Equivalents ............................................................................................................. 123 4.13 Financial instruments ..................................................................................................................... 123 4.13.1 Recognition and derecognition ................................................................................................... 123 4.13.2 Classification and initial recognition of financial assets .............................................................. 124 4.13.3 Impairment of financial assets .................................................................................................... 124 4.13.4 Classification and measurement of financial liabilities ............................................................... 125 4.13.5 Derivative financial instruments and hedge accounting ............................................................. 126 4.13.6 Offsetting financial assets and financial liabilities ....................................................................... 128 4.13.7 Offsetting financial assets and financial liabilities ....................................................................... 130 4.14 Receivables on Embedded Derivatives .......................................................................................... 130 4.15 Service concession agreements ..................................................................................................... 131 4.16 Employee benefits .......................................................................................................................... 132 4.17 Leases ............................................................................................................................................. 133 4.18 Government grants ........................................................................................................................ 135 4.19 Provisions, contingent Assets and Liabilities ................................................................................. 136 4.20 Revenue ......................................................................................................................................... 137 4.21 Income tax ..................................................................................................................................... 141 4.22 Earnings per share ......................................................................................................................... 142 4.23 Share capital, reserves and distribution of dividends .................................................................... 142 5. GROUP AND COMPANY STRUCTURE .............................................................................................. 143 6. OPERATING SEGMENTS .................................................................................................................. 151 7. BUSINESS COMBINATIONS ‐ GOODWILL ........................................................................................ 157 8. INTANGIBLE FIXED ASSETS .............................................................................................................. 160 9. RIGHT OF USE ASSETS ..................................................................................................................... 165 10. TANGIBLE FIXED ASSETS ................................................................................................................. 167 11. INVESTMENT PROPERTY ................................................................................................................. 172 12. PARTICIPATIONS IN SUBSIDIARIES .................................................................................................. 177 13.
Load more

Recommended publications
  • Abai, Oracle of Apollo, 134 Achaia, 3Map; LH IIIC
    INDEX Abai, oracle of Apollo, 134 Aghios Kosmas, 140 Achaia, 3map; LH IIIC pottery, 148; migration Aghios Minas (Drosia), 201 to northeast Aegean from, 188; nonpalatial Aghios Nikolaos (Vathy), 201 modes of political organization, 64n1, 112, Aghios Vasileios (Laconia), 3map, 9, 73n9, 243 120, 144; relations with Corinthian Gulf, 127; Agnanti, 158 “warrior burials”, 141. 144, 148, 188. See also agriculture, 18, 60, 207; access to resources, Ahhiyawa 61, 86, 88, 90, 101, 228; advent of iron Achaians, 110, 243 ploughshare, 171; Boeotia, 45–46; centralized Acharnai (Menidi), 55map, 66, 68map, 77map, consumption, 135; centralized production, 97–98, 104map, 238 73, 100, 113, 136; diffusion of, 245; East Lokris, Achinos, 197map, 203 49–50; Euboea, 52, 54, 209map; house-hold administration: absence of, 73, 141; as part of and community-based, 21, 135–36; intensified statehood, 66, 69, 71; center, 82; centralized, production, 70–71; large-scale (project), 121, 134, 238; complex offices for, 234; foreign, 64, 135; Lelantine Plain, 85, 207, 208–10; 107; Linear A, 9; Linear B, 9, 75–78, 84, nearest-neighbor analysis, 57; networks 94, 117–18; palatial, 27, 65, 69, 73–74, 105, of production, 101, 121; palatial control, 114; political, 63–64, 234–35; religious, 217; 10, 65, 69–70, 75, 81–83, 97, 207; Phokis, systems, 110, 113, 240; writing as technology 47; prehistoric Iron Age, 204–5, 242; for, 216–17 redistribution of products, 81, 101–2, 113, 135; Aegina, 9, 55map, 67, 99–100, 179, 219map subsistence, 73, 128, 190, 239; Thessaly 51, 70, Aeolians, 180, 187, 188 94–95; Thriasian Plain, 98 “age of heroes”, 151, 187, 200, 213, 222, 243, 260 agropastoral societies, 21, 26, 60, 84, 170 aggrandizement: competitive, 134; of the sea, 129; Ahhiyawa, 108–11 self-, 65, 66, 105, 147, 251 Aigai, 82 Aghia Elousa, 201 Aigaleo, Mt., 54, 55map, 96 Aghia Irini (Kea), 139map, 156, 197map, 199 Aigeira, 3map, 141 Aghia Marina Pyrgos, 77map, 81, 247 Akkadian, 105, 109, 255 Aghios Ilias, 85.
    [Show full text]
  • ELLAKTOR Presentation March 5Th, 2020 Table of Contents
    ELLAKTOR Presentation March 5th, 2020 Table of contents 1 Executive summary 2 Business Overview 3 Capital Structure 4 9M 2019 Financials 1 1 Executive summary 2 Business Overview 3 Capital Structure 4 9M 2019 Financials 2 Executive Summary ELLAKTOR history 1950s-1990s 1990s-2000s 2000-2009 2010-2018 2018 - forward 1950s: Establishment of 1999: Led domestic 2007: Acquisition of TEB, ELLINIKI construction sector Pantechniki, leading to Industry TECHNODOMIKI and consolidation (Merger of controlling stake in Attiki consolidation AKTOR TEB, Elliniki Odos (59%) Technodomiki & AKTOR) 1996: Signed first 2003: Entry into concession projects environment segment Diversification (Attiki Odos and Rio- 2008: Signed 3 out of 5 of activities Antirrio Bridge) major concession projects awarded in Greece 2004: First international 2012: c. €600m of construction contracts in projects in the Balkans Romania and Kuwait Geographic 2014: €3.2bn Doha metro 2005: Internationalisation diversification project in Qatar of HELECTOR through acquisition of Herhof GmbH 2010-2012: Sale of gold 2018: Sale of Athens Resort assets Casino (€13.5 ml) Focus on core 2014: ELTECH ANEMOS 2018: Increased stake in IPO Attiki Odos by 6.5% competencies 2019: Sold Corporate Headquarters (€25.5 ml) and stake in Elpedison (€ 18 ml) 2015: 1st Waste PPP in July 2018: Newly elected Greece Board post 1st proxy fight in Renewed 2016: Moreas completed Greece opportunity / in full operation July 2019: Group 2017-18 :Olympia Odos rationalization / ELTECH & Maliakos completed ANEMOS absorption 4 The ELLAKTOR group led the construction sector consolidation in Greece H’ (Highest) grade construction companies in 1998 (€m) 7th grade(1) construction companies in 2018 (€m)(2) Thessaliki SA Etep SA Parnon SA Themeli SA Odon & Odostromaton SA Ekter SA INTRAKAT SA Gekat SA Europaiki Techniki SA I.G.
    [Show full text]
  • Article Reporting Distress and Quality of Life of Patients with Diabetes Mellitus in Primary and Secondary Care in Greece
    C:/Postscript/05_Papathanasiou_MHFM5_2_D2.3d – 1/12/8 – 13:54 [This page: 85] Mental Health in Family Medicine 2008;5:85–93 # 2008 Radcliffe Publishing Article Reporting distress and quality of life of patients with diabetes mellitus in primary and secondary care in Greece Athanasia Papathanasiou MD Clinic of Social and Family Medicine, School of Medicine, University of Crete, Greece; Health Medical Centre of Stylida, Lamia, Greece and Diabetes Center ‘Tzaneio’ General Hospital of Piraeus, Piraeus, Greece Sue Shea Psychologist, Clinic of Social and Family Medicine, School of Medicine, University of Crete, Greece Anastasios Koutsovasilis MD Diabetes Centre ‘Tzaneio’ General Hospital of Piraeus, Piraeus, Greece Andreas Melidonis MD PhD Head, Diabetes Centre ‘Tzaneio’ General Hospital of Piraeus, Piraeus, Greece Eustathios Papavasiliou MD PhD Associate Professor, Department of Endocrinology, Diabetes Mellitus and Diseases of Metabolism, University Hospital of Heraklion, Greece Christos Lionis MD PhD Associate Professor and Head, Clinic of Social and Family Medicine, School of Medicine, University of Crete, Greece ABSTRACT Background and aim This study constitutes an (PCS) and Mental Component Summary (MCS) initial attempt at elucidating the relationship and six subscales of the SF-36 v2 demonstrated between quality of life (QoL), health status and significant differences between the two partici- psychological distress in patients with diabetes pating centres (P<0.0001). The mean PAID score mellitus (DM) in Greece, by comparing patients was 19.18 (Æ15.58) for patients from the PHCC, with DM registered at a rural primary healthcare versus 40.19 (Æ17.36) for the DOC (P<0.0001). centre (PHCC) and those attending a diabetes Lower scores on the MCS of the SF-36 v2, and outpatient clinic (DOC) at an urban hospital.
    [Show full text]
  • The Role of Turkey As Energy Hub in the Greek REPEC
    Munich Personal RePEc Archive The role of Greece and Turkey as energy hubs in the region Ketenci, Natalya Yeditepe University 2017 Online at https://mpra.ub.uni-muenchen.de/83862/ MPRA Paper No. 83862, posted 11 Jan 2018 15:20 UTC The role of Greece and Turkey as energy hubs in the region. Dr. Natalya Ketenci Yeditepe University Abstract The Greek-Turkish relations have been complex in different aspects for a long time. However, neighborhood makes these countries close to each other in political, military and economic terms. Geopolitical location of Turkey makes it strategically important for Greece. Despite of the economic crisis in Greece bilateral trade between these two countries almost doubled for the last five years. Energy and minerals are significant part of this trade and it is expected that natural gas will be one of the most important determinants of the bilateral trade. The energy products trade is two sided and creates strategic meaning for both countries. This chapter analyzes energy markets in Greece and Turkey separately and the Greek-Turkish relations in terms of energy. Completed natural gas pipeline of 296 km connects Turkey and Greece and delivers natural gas of Azerbaijan to Europe. There are several planned or under construction projects that connect Turkey and Greece. Impact of Turkey and Greece as energy hubs on the Greek-Turkish relations and various possibilities for the future cooperation at the energy market are discussed in this chapter. 1 Energy – economic growth relationships The Energy Union is the European Union’s (EU) long-term project, which consists of five targeting dimensions.
    [Show full text]
  • Archived Content Contenu Archivé
    ARCHIVED - Archiving Content ARCHIVÉE - Contenu archivé Archived Content Contenu archivé Information identified as archived is provided for L’information dont il est indiqué qu’elle est archivée reference, research or recordkeeping purposes. It est fournie à des fins de référence, de recherche is not subject to the Government of Canada Web ou de tenue de documents. Elle n’est pas Standards and has not been altered or updated assujettie aux normes Web du gouvernement du since it was archived. Please contact us to request Canada et elle n’a pas été modifiée ou mise à jour a format other than those available. depuis son archivage. Pour obtenir cette information dans un autre format, veuillez communiquer avec nous. This document is archival in nature and is intended Le présent document a une valeur archivistique et for those who wish to consult archival documents fait partie des documents d’archives rendus made available from the collection of Public Safety disponibles par Sécurité publique Canada à ceux Canada. qui souhaitent consulter ces documents issus de sa collection. Some of these documents are available in only one official language. Translation, to be provided Certains de ces documents ne sont disponibles by Public Safety Canada, is available upon que dans une langue officielle. Sécurité publique request. Canada fournira une traduction sur demande. Institute for Strategic International Studies ISIS - 2011 REPORT Emergency Readiness is Leadership Driven Institute for Strategic International Studies - ISIS 2011 Contents Membership … 3 Executive Summary … 4 Domestic Research Plan … 6 Global Research Plan … 7 International Field Studies - Interviews … 10 ISIS 2011 – Consolidation Of Research – What Canada Needs to Know … 11 ISIS 2011 - Themes … 12 1.
    [Show full text]
  • The Emigration of Muslims from the Greek State in the 19Th Century
    BALCANICA POSNANIENSIA XXVII Poznań 2020 THE EMIGRATION OF MUSLIMS FROM THE GREEK STATE 1 IN THE 19TH CENTURy. AN OUTLINE kr z y s z t o f Po P e k Abstract. Modern Greek statehood began to take shape with the War of Independence that broke out in 1821 and continued with varying intensity for the next years. As a result of these events, the Greeks cast of the foreign rule, which for many not only meant separation from the Ottoman Empire, but also the expulsion of Muslims living in these lands. During the uprising, about 25 000 Muslims lost their lives, and a similar number emigrated from the territory of the future Greek state. The next great exodus of Muslims from Greek lands was related to the an- nexation of Thessaly by the Hellenic Kingdom, which was to a larger extent spread over time. Since the region was incorporated into Greece until the beginning of the 20th century, the 40 000-strong Islamic community had virtually disappeared. Author: Krzysztof Popek, Jagiellonian University, Faculty of History, World Contemporary History Department, Gołębia st. 13, 31-007 Cracow, Poland, [email protected], OrciD iD: http://orcid.org/0000-0001-5864- 5264 Keywords: Greece, 19th century, Muslim minority, migrations, Thessaly, Greek War of Independence Balcanica Posnaniensia. Acta et studia, XXVII, Poznań 2020, Wydawnictwo Wydziału Historii UAM, pp. 97– 122, ISBN 978-83-66355-54-5, ISSN 0239-4278. English text with summaries in English and Polish. doi.org/10.14746/bp.2020.27.7 INTRODUCTION Although Greece itself does not want to be treated as one of the Balkan countries, the Greek experience of the period of building its own nation-statehood is character- istic of this region.
    [Show full text]
  • Greek Energy Directory 2 0 1 6
    ) ENERGIA•gr Greek Energy Directory 2 0 1 6 t n e m Business The Oil Sector Natural Gas The Electricity SectorRenewable EnergyEnergy Sources Efficiency &The Co Genera2on Legal FrameworkResearch & DevelopDirectory TERNA ENERGY is a major player in the Renewable Energy Market and specifically in the development of Wind Parks, in Hydroelectric Projects, Solar Energy Plants as well as Waste to Energy and Biomass Projects, with presence in Greece, Europe and the USA. The total installed capacity of the Group accounts for 664 MW: 394 MW in Greece, 138 MW in the USA, 102 MW in Poland and 30 MW in Bulgaria, while 274 more MW are currently under development in Greece and abroad. Overall, the company operates, is constructing or has fully licensed 938 MW of RES installations in Europe and the USA. The company is targeting to reach almost 1,000 MW of RES projects in operation in all countries where it is active, over the following years. T A B L E O F C O N T E N T S Publisher’s Foreword 9 Preface by the Minister of Environment and Energy, Mr. PANOS SKOURLETIS M.P. 11 1. An introduction to Greece’s Energy Sector by COSTIS STAMBOLIS, Execu=ve Director, IENE and Managing Editor of Energia.gr 14 2. The Oil Sector Overview of Greece’s Oil Sector by COSTIS STAMBOLIS 40 Hellenic Petroleum, A Market Leader in SE Europe by GRIGORIS STERGIOULIS, CEO, HELPE 49 Hydrocarbon E &P sector: When the Vision Becomes a Reality by Professor SOFIA STAMATAKI, ex - Chairman, Hellenic Hydrocarbons Managements Company (ΕΔΕΥ) 53 A New Era for Greece’s Upstream Sector by MATHIOS RIGAS, CEO, Energean Oil & Gas 61 Greece’s Oil Retail Market by DIMITRIS MEZARTASOGLOU, Research Associate, IENE 67 3.
    [Show full text]
  • AXIA Research
    Greece Outlook 2019: The year of the elections AXIA Research Table of Contents Start of a new era ......................................................................................................... 3 Early elections or at the end of the government’s term? ....................................................................... 3 Unexciting economic performance, while fiscal space shrinks without pro-growth ........................................... 4 Elections is the key catalyst for the markets .................................................................................... 5 Top picks ......................................................................................................................... 5 2019, the year of the elections ......................................................................................... 6 The day after the Prespa Agreement ......................................................................................................................................... 6 Timing of elections: May vs. September/October ...................................................................................................................... 7 Looking at recent polls ............................................................................................................................................................... 9 Strategies by Syriza and ND ahead and after the elections ...................................................... 13 Syriza to try to close the gap with ND as is already regrouping
    [Show full text]
  • D1.4 Registry of Mediterranean Practitioners
    Ref. Ares(2018)5063294 - 03/10/2018 Mediterranean practitioners’ network & capacity building for effective response to emerging security challenges MEDEA is a project that has received funding from the European Union’s Horizon 2020 - Research and Innovation Framework Programme H2020-SEC-21-GM-2016-2017, under grant agreement no 787111. Additional information about the project and the consortium can be found at www.medea-project.eu D1.4 Registry of Mediterranean Practitioners Contractual Delivery Date: 08/2018 Actual Delivery Date: 03/10/2018 Dissemination level: Public Version: 1.0 Abstract This deliverable lists the major International, Regional and National organizations, around the Management of Migration Flows and Asylum seekers, Border Management and Surveillance, Cross Border Crime and Terrorism and Natural Hazards and Natechs, containing profiling and contact information, as well as their particular area of expertise. The main scope and objectives of the Registry are defined in the current document. DISCLAIMER: This document contains material, which is the copyright of the MEDEA consortium members and the European Commission, and may not be reproduced or copied without permission, except as mandated by the European Commission grant agreement no. 787111 for reviewing and dissemination purposes. Copyright by the MEDEA consortium, 2018-2023. D1.4 Registry of Mediterranean Practitioners Document Control - Revision History Issue Date Comment Author / Institution 0.1 30/08/2018 Finalise Practitioners template EUC, DGAP Desktop research in 4 TCPs. Create excel 30/08/2018 KEMEA 0.2 registry 0.3 06/09/2018 Transfer Excel entries to Deliverable KEMEA 0.4 17/09/2018 Add inputs from partners KEMEA, EUC The information contained in this document is provided by the copyright holders "as is" and any express or implied warranties, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose are disclaimed.
    [Show full text]
  • An Insight Guide of Prespa Lakes Region Short Description of the Region
    An Insight Guide of Prespa Lakes Region Short description of the region Located in the north-western corner of Greece at 850 metres above sea level and surrounded by mountains, the Prespa Lakes region is a natural park of great significance due to its biodiversity and endemic species. Prespa is a trans boundary park shared between Greece, Albania and FYR Macedonia. It only takes a few moments for the receptive visitor to see that they have arrived at a place with its own unique personality. Prespa is for those who love nature and outdoor activities all year round. This is a place to be appreciated with all the senses, as if it had been designed to draw us in, and remind us that we, too, are a part of nature. Prespa is a place where nature, art and history come together in and around the Mikri and Megali Prespa lakes; there are also villages with hospitable inhabitants, always worth a stop on the way to listen to their stories and the histories of the place. The lucky visitor might share in the activities of local people’s daily life, which are all closely connected to the seasons of the year. These activities have, to a large extent, shaped the life in Prespa. The three main traditional occupations in the region are agriculture, animal husbandry and fishing. There are a lot of paths, guiding you into the heart of nature; perhaps up into the high mountains, or to old abandoned villages, which little by little are being returned once more to nature’s embrace.
    [Show full text]
  • Opening Ceremony in Athens Exchange for the Commencement of Trading Announcement of GEK TERNA Group Corporate Bond
    Athens, 6 July 2020 Opening ceremony in Athens Exchange for the Commencement of Trading Announcement of GEK TERNA Group Corporate Bond Chairman and CEO of GEK TERNA Group, Mr. George Peristeris extends his gratitude Good morning. On behalf of GEK TERNA Group, I would like to express our warm thanks to all those who contributed to the truly great success of our bond issue, especially in this very special period. Let's not forget that this is the largest bond issue for the Greek market and the first after the public health crisis, which changed so many things in the lives of all of us. In this context, I would like to thank the competent authorities of the Stock Exchange and the Hellenic Capital Market Commission for the excellent cooperation, our Advisors and Underwriters for the valuable support they offered us, all our employees within the Group who have been working hard for fifty years to get us where we are today, our executives who gave their best for the success of the bond issue and of course and above all the thousands of investors, private as well as institutional ones, that once again showed in practice how much they trust us. We believe that this trust is our greatest success, the greatest reward and recognition for the hard work we put in every day and we are truly grateful that it is expressed over time. Thousands of people show their trust towards our Group by placing their savings and this is both fascinating and really moving. At the same time, however, it is for us a very big responsibility and a moral commitment for the future.
    [Show full text]
  • A Qualitative Study of the Competitiveness of the Port of Thessaloniki
    Erasmus University Rotterdam MSc in Maritime Economics and Logistics 2019/2020 A qualitative study of the competitiveness of the port of Thessaloniki By Tsioukanaras Paraskevas Copyright Tsioukanaras Paraskevas 1 Acknowledgements I would like to express my deepest appreciation and love to my parents and my brother who did not only financed my studies but underpinned me mentally throughout the whole year and inspired me to keep on trying on pursuing a career in the maritime industry. I would also like to express my sincere gratitude to my supervisor, professor Elvira Haezendonck who entrusted me to carry out this study and facilitated me in the process of making it. I would also like to thank the MEL office and the professors of the whole program for their help during my studies. I would like to acknowledge the help of many of my fellow students with whom we spent this year and worked hard during all the academical year. Special thanks to Ioanna Christodoulou, Prithvin Leonard, Elisabeth Mathisen, Nikolas Pantagias and Alex Karalis should be attributed. Last but not least, i am extremely grateful to all the experts who participated in my study by giving out in-person interviews and contributing substantially to the current qualitative research. 2 Abstract Nowadays ports are facing a fast-changing environment which imposes many alterations to their functions. As ports are trying to adopt to these circumstances, they search for ways that can enhance their competitiveness so as to get ahead of competition. The current paper puts the second biggest port of Greece, namely the port of Thessaloniki, under scope and efforts to find out how its competitiveness can increase.
    [Show full text]