AKRITAS wood processing industry is expanding its investment plan for its “green” transition to 25 million euros over a three-year horizon.
As the company’s CEO, Efthimios Konstantopoulos, told “N”, this year investments of 1.5 million euros will be completed, which concern the recycling of industrial wood (either from its own material or from packaging pallets), as well as part of the planned energy saving actions.
The procedures (permits, amendment of the environmental study, etc.) for the large energy investment included in the program for the utilization of the biomass remaining in the company after the processing of the raw material, with the aim of co-producing electricity and thermal energy (ed. biomass burner) are underway. This investment is expected to exceed 10 million euros.
In addition to the two aforementioned investment actions, which had been announced since the end of 2023, Akritas will also proceed with additional green investments, taking advantage of the upcoming first cycles of the new development law, with its three-year green investment plan ultimately reaching 23-25 million euros.
Financial results
In 2024, consolidated turnover amounted to 38.298 million euros compared to 40.588 million euros in the previous year, with this small decrease (5.6%) mainly due to the limitation of its exports to the Middle East, especially Lebanon, due to geopolitical developments in the region. However, the company looks forward to increasing its exports either to new markers or to the existing ones where geopolitical tension will hopefully de-escalate.
Despite the decrease in turnover, the company’s improved productivity combined with the appropriate commercial policy and the containment of production costs, led to an increase in the gross consolidated sales margin, which amounted to 17.3% compared to 14.9% in the previous year. In Therefore, EBITDA amounted to 4.385 million euros compared to 4.259 million euros in 2023, with the corresponding EBITDA margin at 11.5% compared to 10.5% in the previous year, while the adjusted EBITDA amounted to 5.028 million euros compared to 4.524 million euros in 2023, increased by 11.1%.
After-tax profits amounted to 2.956 million euros compared to 15.672 million euros in 2023, a year in which a decisive factor in shaping the financial results of the company was the completion of the refinancing agreement and impairment of its bank borrowings.
