EYATH recorded an increased turnover in 2023, at the same time that the EBITDA index increased by 665%, according to the announcement of the company’s financial results. Cost of sales decreased by €4.2 million, while gross profit margin rose to €13.6 million compared to €5.5 million in 2022.
Specifically, EYATH’s turnover in 2023 amounted to 72,796 thousand euros compared to 70,902 thousand euros in 2022, marking an increase of 2.67% due to the application of increases in the context of what was foreseen in the company’s pricing policy (Government Gazette 1105/03.04.2019) as well as in increased consumption.
Gross profits in 2023 amounted to 13,654 thousand euros compared to 5,572 thousand euros in 2022, i.e. increased by 145.05%, due to a reduction in energy costs by 7,949 thousand euros or 26.27%.
The pre-tax results of 2023 amounted to 2,629 thousand euros compared to -4,242 thousand. euros of 2022, showing an increase of 161.97 %.
The following-tax results of 2023 amounted to 1,242 thousand euros compared to -3,993 thousand euros in 2022, showing an increase of 131.11%.
EBITDA profits amounted to 6,724 thousand euros compared to 878 thousand euros in the previous year, showing an increase of 665.83%.
Cash and cash equivalents amount to 65,901 thousand euros compared to 71,481 thousand euros, recording a decrease of 7.81%.
The Share Capital remains unchanged at 40,656 thousand euros divided into 36,300,000 shares with a nominal value of 1.12 euros each.
The group’s Equity amounts to 178,646 thousand euros on 31.12.2023.
The president of EYATH, Agis Papadopoulos, states: “The results of the 2023 fiscal year confirm our commitment to continue moving in the direction of sustainable and responsible development of the company: to be financially robust, outward-looking, with modern and durable infrastructures, which ensure the sustainability of our aquatic ecosystem.
We operate within a strict framework of environmental legislation, with a regulated pricing policy, having the Greek State as our main shareholder from August 2023.
We are happy that our energy and environmental interventions are starting to pay off for the benefit of our shareholders and consumers.”
The CEO of EYATH, Anthimos Amanatidispoints out: “Our performance in 2023 confirmed our strategic focus on digital and energy transformation.
The normalization of electricity costs from March onwards, the indisputable competitive advantages of domestically produced clean energy, which we will enjoy through PPAs for an 8-year period, we expect to ensure an even better course for us”
Finally, Mr. Amanatidis concludes: “Beyond the financial benefit we will secure from the ‘green’ bilateral contractswe will achieve a reduction of our environmental footprint, with a positive impact on the company’s valuation, as we participate in the ESG Index of the Athens Stock Exchange”.
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