An initial evaluation for listed companies on the Athens Stock Exchange (ATHEX) of significantly higher turnover in 2018 has been confirmed, with results also improved, although the state-run Public Power Corp. (PPC) comprises the sole and primary aberration.
According to collected results by all ATHEX-listed companies, their turnover in 2018 increased by 10.81 percent, with operational profits nevertheless down by 6.5 percent, or eight billion euros in absolute terms. The same figure for 2017 was operational profits of 8.56 billion euros. Net profits also fell by 18.5 percent in 2018, to 1.79 billion euros.
However, if PPC is excluded from the total, then operational profits post a marginal 1-percent increase yoy; even more spectacularly, net profits jump 12 percent, overall, if PPC is excluded.
Based on the total accumulated results of 170 listed companies – excluding banks and the Hellenic capital Market Commission – turnover in 2018 reached 70.5 billion euros, with two-thirds of the companies posting increased sales. The latter figure was substantially affected by the increase in turnover of Greece’s two refinery groups, which recorded higher sales in 2018 of 3.4 billion euros.
