High profitability in 2021

The high operating performance and at the same time the high energy costs form the image of the financial results of the group of EYATH SA. for the fiscal year 2021.

Specifically, according to the consolidated financial statements for the year 2021 presented today to financial analysts, the turnover amounted to 73.6 million euros compared to 71.9 million in the corresponding period last year, an increase of 2.4%. The cost of sales amounted to 50.5 million compared to 44.3 million in 2020 (increase of 14.13%). The group’s pre-tax profits reached 15.8 million compared to 16.7 million, a decrease of 5.81%. Profit after tax amounted to 11.3 million euros from 11.9 million in 2020, a decrease of 4.59%. The gross profit for the year amounted to 23.1 million euros compared to 27.6 million euros last year (decrease of 16.46%). Also, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 20.97 million euros during the closing year compared to 22.6 million, recording a decrease of 7.24%.

At the same time, the cash and cash equivalents of the group on December 31, 2021 reached 91.3 million compared to 81.9 million on 31/12/2020, recording an increase of 11.46% which reflects the large receivables of the previous year.

“No company can be unaffected by the situation in the energy sector, but it can reduce their impact methodically and with preventive measures. At EYATH, for three years now, we have been designing and implementing energy saving projects, reducing CO2 emissions, as well as own production projects in our energy-intensive production infrastructures. At the same time, all this time we continue consistently in the direction of sustainability, as shown by the publication in 2021 of our first Sustainability Report for the years 2019-2020 “, pointed out the president of EYATH SA, Professor Agis Papadopoulos.

“In 2021, despite the adversity, our operational performance was excellent, our earnings were the highest in recent years and our cash flow increased significantly, thanks to our business planning and the valuable contribution of our employees. We decided to absorb and balance the high energy costs in the medium term, without burdening our consumers by 2023. We look forward to 2022 in responsible, sustainable development, with projects of energy balance and social solidarity “, noted the CEO of EYATH SA, Anthimos Amanatidis.

In fact, as he pointed out in today’s presentation, EYATH’s investment projects for contracting include the installation of “smart” water meters, the implementation of a new integrated customer service and pricing system, the creation of new water storage tanks and, above all, the start of expansion works. Thessaloniki Water Treatment, which will improve the water supply “performance” of the company in cases of emergency and will allow to increase its turnover by expanding to new areas.

From the left, EYATH Finance Director Dimitris Alexandris, EYATH President Agis Papadopoulos and CEO Anthimos Amanatidis in today’s presentation

From the energy upgrade works of the biological treatment plant in Sindos