The turnover in the nine months of 2022 of the Loulis Mills company jumped to 154.1 million euros compared to 95.4 million euros during the corresponding period last year.
According to the company’s data, the Sales Revenue, Profit before Taxes, Earnings before Taxes, Interest and Depreciation (EBITDA) and Earnings before Taxes and Interest (EBIT) of the Group and the Company for the Nine Months and the Third Quarter of 2022, compared to the corresponding periods of the previous fiscal year, are summarized as the following table:
The main financial figures of the Group and the Company, in the Nine Months and in the Third Quarter of 2022, appeared increased compared to the corresponding period of the previous year, mainly due to the increases in the selling prices of the products in the first half of 2022, as compensation for unprecedented increase in a) purchase prices of raw materials and packaging materials used in production, b) energy costs in production, and c) transportation costs of finished products.
Specifically, during the 3rd Quarter of 2022 (from 01.07.2022 to 30.09.2022), compared to the corresponding period of the previous year, a) Revenues from Sales increased by 64.30% in the Group and 63.24% in the Company , b) Profits before Taxes increased by 209.32% in the Group while they decreased by 11.01% in the Company, c) Profits before Taxes, Interest and Depreciation (EBITDA) increased by 52.59% in the Group and 19.09 % in the Company and d) Earnings before Taxes and Interests (EBIT) increased by 203.83% in the Group and 52.67% in the Company.
The results of the Group and the Company were also affected during the period from 01.01.2022 to 30.09.2022, as compared to the corresponding period of the previous year a) Sales Revenues increased by 61.59% in the Group and 60.19% in the Company, b) Profits before Taxes increased by 188.14% in the Group and 18.99% in the Company, c) Earnings before Taxes, Interest and Depreciation (EBITDA) increased by 59.51% in the Group and 31.76 % in the Company and d) Earnings before Taxes and Interests (EBIT) increased by 166.82% in the Group and 83.58% in the Company.
Additional credit limits
In addition, and in order to address increased working capital needs, management proceeded to secure additional credit lines to address future liquidity needs, which may arise as a consequence of the continued energy crisis, the war conflicts in Ukraine and the macroeconomic environment in general. Thus, the Net Debt of the Group and the Company on 30.09.2022 amounted to € 76.26 million and € 67.45 million respectively, increased by € 13.32 million (21.16%) and € 9.13 million (15.65%) respectively.
The extent of the impact of the energy crisis, the war conflicts in Ukraine and the macroeconomic environment in general, on the Group’s activities in the coming period will depend to a large extent on future international and domestic developments.
The management constantly monitors the developments, assesses the risks and takes the necessary actions in order to minimize any negative effects on the financial results of the Group, to continue the implementation of the strategic plan without interruption and to ensure the business continuity of the Group. Based on the data valid at the time of this writing, the management estimates that in any case, the energy crisis and the war conflicts in Ukraine will not affect the continuation of the Group’s and the Company’s activity.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
