EYATH reported an increase in net profits over 76% in the first half of 2017, with stable revenues and no increases in tariffs and no ‘discounts’ on its social policy; in fact quite the contrary, it offered additional discounts to those hit by frosts and also oversaw a major rise in the number of related repayment plans which were put in place.
According to the interim financial statements for the first half of 2017 turnover was at roughly the same level as last year, at € 37.7 million compared to € 37.8 million in the same period last year, down just some 0.20%. Gross profits for the period stood at € 16.95 million compared to € 15.9 million in the same period last year, up 6.64%.
Group EBT in the same period stood at € 14 million compared to € 10.7 million last year, up some 31.22% while earnings after tax stood at € 9.7 million, compared to € 5.49 million, up 76.58%. Moreover, cash assets stood at € 71 million on 30.6.2017 compared to € 56.7 million last year, which represents a rise of 25.68%. That rise in cash assets by such a degree was due to the dividend being paid after the end of the first half of 2017.
“I believe that the company’s results are indicative of how a listed company can combine the idea of making a social contribution  and caring for socially vulnerable groups with high profits and cash liquidity. During the first half of the year we rationalised expenditure even more, despite the cost of the maintenance works we had to carry out because of last winter’s frosts, and also made energy savings,” said EYATH S.A.’s Chairman and CEO, Prof. Giannis N.  Krestenitis. “It's clear that EYATH is able to implement its investment and business plan worth € 165 million up to 2023, and that is what it will do ... building the extension to its water treatment facilities and providing the residents of Thessaloniki with a complete water supply - sewerage system, which will also extend into new areas, and laying the foundations for a form of development beneficial to both the environment and natural resources,” he added.