IKTINOS HELLAS S.A. recorded a decrease of 26.04% in its turnover in the first three quarters of 2019 compared to the respective period of 2018, at a parent company level. The turnover amounted to 31.35 million Euros, compared to 42.38 million Euros in the first three quarters of 2018.
The exports of marble in the first three quarters amounted to 95% of the turnover of the company.
In the same period, profit before tax decreased by 59.5% and amounted to 6.67 million Euros compared to 16.46 million Euros in the first three quarters of 2018.
The EBITDA in the first three quarters of 2019 amounted to 9.51 million Euros, compared to 18.41 million Euros in the respective first three quarters of 2018, presenting a decrease of 48.38% .
The company is proceeding to the implementation of its investment plan, of the transition to the new underground extraction system at its main quarry at Volakas, which will allow the company to fully meet the increased demand with marble of higher quality. This necessary transition led to a reduced production capacity of the company in the previous period, which affected negatively the company’s sales and, therefore, its profitability.
Respectively, on a consolidated basis, for the first three quarters of 2019:
- the turnover decreased by 28.47% and amounted to 34.37 million Euros, compared to 48.05 million Euros in the respective previous period,
- the EBITDA amounted to 10.12 million Euros, compared to 20.06 million Euros in the respective first three quarters of 2018, showing a decrease of 49.53%, and
- profit before tax amounted to 5.69 million Euros compared to 16.90 million Euros in the respective first three quarters of 2018, presenting a decrease of 71.41%.