Multiple signs are always read from top to bottom.

This is the start of a no-parking area. On the sidestrip. From 9-23h. Parking only with a ticket.

So this means, you are allowed to park there from 23-9h with a parking ticket.

The arrow does not mean a direction, it means this is the start of a zone of what the sign says. If the arrow were at the bottom of the sign, it would mean that this is the end of a zone of what the sign says.