The 22 commercial and industrial listed companies that have announced nine-month results, managed to maintain their profitability stable.
Tourism and inflation, which raises the prices of services provided, positively affect the results of the businesses, which will likely have another profitable financial year in continuation of last year.
However, the turnover falls short of the corresponding last year, as the reduction in consumer spending is starting to become evident, although the sample to date is small, since it corresponds to only 14% of all listed companies.
The net profits of the 22 listed companies amount to 2.270 billion euros, compared with 2.084 billion euros in the same period last year, showing an increase of 8.29%. At the same time, their operating profitability in the first nine months of the year is 4.66 billion euros, up 5.06% compared with 4.44 billion euros last year.
The turnover stands at 31.361 billion euros from 38.025 billion euros which was the corresponding performance in the nine months of 2022, down 17.53%.
Regarding the individual sectors, Autohellas recorded strong profitability due to an increase in tourist arrivals. Coca-Cola HBC (CCHBC) seems to have performed well, overcoming last year’s problems due to the Russian-Ukrainian war.
The Mytilineos Group, after the exceptional profitability of the nine months (462 million euros compared with 312 million euros), appears to be expanding in existing markets (aluminum, construction, energy ) and new activities inside and outside Greece.
The Titan cement industry took advantage of the rising demand in the USA and the Balkans and, combined with the decline in energy costs, managed to achieve record profitability in the nine months.
OPAP saw a surge in net profits in the nine-month results (from 47.1 million to 65.9 million euros), largely boosted by the strongly rising tourist traffic (cruises, shipping sector).
Ideal, through the increase in the performance of its subsidiaries, but also through acquisitions of other companies, raised the pro forma net profit of the nine months from 12 million euros to 22 million euros.
Finally, Cenergy Holdings increased its sales by 12% (from 1.045 billion euros to 1.169 billion euros), with the expansion of operations being even greater, due to the fact that the decline in metal prices in international markets also affected sale prices.