- 19 April 2019
- Posted by: eyath-news
- Category: All News
19.04.2019. High profitability, strong cash basis and investment in human capital “show” the financial results of 2018. In particular, the turnover remained mainly stable, showing a marginal decrease of 0.51%, reaching 73 million against 73.4 million in the corresponding last year. Sales cost amounted to € 42.7 million compared to € 43.25 recording a decrease of 1.19%.
Group pre-tax profits amounted to € 20.95 million over € 24.9 million, a decrease of 15.96%, while after tax profits amounted to € 14 million from € 16.45 million, recording a decrease of 14.88%. Gross profit for the year amounted to 30.3 million over 30.1 million euros in the previous year, an increase of 1.19%. Group profits before taxes, interest and depreciation are applied (EBITDA) amounted to € 25.8 million over € 29.5 million (12.48% decrease). The cash position of the company remained at a high level, amounting to 71.6 million euros over 65.2 million, recording an increase of 9.85%. The reduction in earnings is mainly attributed to an increase in staff remuneration due to the completion of the recruitment of 150 employees through ASEP in 2018 and the appropriation of the accounting standard IFRS 9 “Financial Means” for the measurement of the further reduction of trade receivables.