Strong results and direct investments

EYATH SA has strong financial results, despite the obvious effects of the pandemic, business continuity and an active investment “portfolio” in the first half of 2020.

In particular, according to the data of the consolidated financial statements of the group for the period 01/01/2020 to 30/06/2020, the turnover amounted to 34.5 million euros compared to 35.6 million in the corresponding period last year, recording a decrease of 3.25%. The cost of sales reached 21.4 million euros compared to 20.9 million euros, an increase of 2.30% mainly due to increased energy costs. The group’s pre-tax profits amounted to 7.4 million euros compared to 10 million euros, recording a decrease of 26.46%, while post-tax profits amounted to 4.8 million from 6.6 million euros (decrease 26.95%). The gross profit for the year amounted to 13 million compared to 14.7 million in the previous period, recording a decrease of 11.15%. Also, the profits before taxes, interest and depreciation (EBITDA) of the group of EYATH SA. at the current period amounted to 10.2 million euros compared to 12.6 million (decrease of 19.14%). Cash, on June 30^th, 2020 reached 84 million euros compared to 75.8 million on December 31^st, 2019, recording an increase of 10.75%.

“The effects of the health crisis have begun to show and it is commonly accepted that the Greek economy is already facing adverse consequences. “Our results for the first half of the year reflect the significant reduction of professional and industrial activity – and therefore consumption – due to quarantine, but also in combination with the social profile of our company, which has been implementing a low pricing policy since May 2019,” said the CEO of EYATH, Anthimos Amanatidis.

“EYATH successfully responded to the unprecedented conditions of the pandemic, ensuring the operational continuity of the basic infrastructure we manage, for the benefit of public health. From the very first day of our return to this peculiar regularity, we returned to the implementation of our direct investment program of 65 million euros, which includes sustainable projects, environmental projects, projects to reduce our energy costs. We are transforming, changing, investing, this is our response to the effects of the pandemic “, concluded Mr. Amanatidis.