“Resistant” the scales during the 9 months of the pandemic

The financial figures of EYATH SA appear “resistant” to the pandemic during the nine months of 2020, as the health crisis brought only limited fluctuations in the business activities and the liquidity of the company.

In particular, according to the data of the financial statements of the company for the nine months of 2020, the turnover amounted to 53.6 million euros compared to 54.5 million in the corresponding period last year, recording a decrease of 1.66% mainly due to the first wave of the pandemic, which forced the company to take immediate action and limit its activities. The cost of sales reached 32.1 million euros compared to 31.3 million euros, an increase of 2.6% mainly due to increased electricity bills for the operation of the facility. Pre-tax profits amounted to 13.6 million euros compared to 18.25 million euros, decrease of 25.48%. Also, the profits before taxes, interest and depreciation (EBITDA) of EYATH SA amounted to 17.9 million euros during this period compared to 22.24 million (decrease of 19.71%). Cash equivalents in the nine months amounted to 74 million euros compared to 77.5 million in the corresponding period last year, showing a decrease of 4.48% due to increased dividend distribution during the year 2019. It should be noted that in the third quarter of 2020 there are no substantial changes compared to the published results of a 6 – month period, while the company remains with zero borrowing and strong cash.

“We are now operating in an ever-changing business environment, the changes that are taking place in the market are huge. At EYATH, we remain safe and invest in a series of projects in the viability of the company and the immediate transition of its services to an integrated digital ecosystem, needs that were clearly demonstrated by the health crisis. However, in addition to our financial performance, with substantial corporate responsibility actions, we are next to vulnerable groups in the local community, to help mitigate the effects of social and economic exclusion caused by the pandemic “, said the CEO of EYATH, Anthimos Amanatidis.