During the three years 2018-2020, the total contribution of the Heracles group to value added for the Greek economy was estimated at 681 million euros, with the average corresponding to 0.13% of the country’s GDP. Respectively, its total contribution to the state tax revenues of the state amounts to 222 million euros, with the average corresponding to 0.10% of the tax revenues of the Greek state.
In addition, for every 1 euro of direct value added of the group on average per year, an additional 3.5 euros are created in the Greek economy, thus highlighting that the dynamics of the group is such that its turnover more than triples the value generated.
The value it adds to the country on a socio-economic level was captured for the first time by the group in the exhibition entitled “Priority to society”, which is based on a study implemented by the Department of Climate Change and Sustainable Development of EY Greece.
At the same time, the Heracles group contributed significantly to employment by offering an average of 6,537 full-time jobs, which correspond to 0.02% of total employment in Greece. It is worth noting that for every 1 job, an average of 7 additional jobs are supported annually in the wider economy. Also, the activity of the group is supported by the income of more than 15,000 citizens on average per year.
In addition, through the multifaceted Corporate Social Responsibility program of the group, 130 bodies were supported in practice and more than 210 social responsibility actions were implemented.
Mr. Dimitris Chanis, CEO of the Heracles group, stated: “The data reflected in the study of EY prove that at the Heracles group our constant priority is to constantly improve our performance, while taking care of the environment, people and societies in which we operate but also enhancing the growth prospects of the domestic economy. Our strategy and business steps are fully in line with our vision for a better and more sustainable future. Each of us, the people of the Heracles group, is committed that in the next three years we will have to show “projects” that will contribute positively to the country’s economy and will “build” added value for Greek society. “
Latest News
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction
Greek 30Y Bond Issue Oversubscribed by 11 Times
Very high demand pushed down the coupon's interest rate to 4.125%
Athens Int’l Airport Wins Top Prize at Routes Europe Awards
The Routes business is focused entirely on aviation route development and the company's portfolio includes events, media and online businesses
IOBE: Income Gap Between Poor and Wealthy Greeks Widens
The findings in the analysis, entitled “Progressivity in Income Taxation in Greece, 2012-2021", paint a bleak picture for Greeks in the bottom half of the income bracket, warning that income inequality is growing