IKTINOS HELLAS SA would like to announce the below published results for the 1 half of 2022:
COMPANY
- The turnover during the first half of 2022 amounted to 15.5 million euros, while the corresponding amount during the first half of 2021 was 18.4 million euros. There was a decrease of 2.9 million euros and at a percentage of16.02%. Exports are the 96% of the year's turnover
· Earnings before taxes, financing, investment results and depreciation (EBITDA) for the 1st half of 2022, amounted to 2.5 million euros, while the corresponding amount in the 1st half of 2021 was 5.7 million, showing a decrease by 3.2 million euros and at a percentage of 56.31%.· Profits before taxes for the 1st half of 2022 amounted to 0.3 million euros, while the corresponding amount in the 1st half of 2021 was 3.2 million euros. In other words, there was a decrease of 2.9 million euros and at a percentage of 91.86%.· Net loan obligations on 30/6/2022 amounted to 43 million, while on 30/6/2021 they were 42.1 million, i.e. they increased by 0.9 million euros
GROUP
· The turnover for the 1st half of 2022 amounted to 16.8 million euros, while the corresponding amount in the 1st half of 2021 was 19.5 million euros, i.e. a decrease of 2.7 million euros and at a percentage of 14 .01%. · Earnings before taxes, financing, investment results and depreciation (EBITDA) for the 1st half of 2022, amounted to 3.4 million euros, while the corresponding amount in the 1st half of 2021 was 6.6 million, showing a decrease by 3.2 million euros and at a percentage of 48.96%.· Profits before taxes for the 1st half of 2022 amounted to 0.3 million euros, while the corresponding amount in the 1st half of 2021 was 3.2 million euros, i.e., there was a decrease of 2.9 million euros and at a percentage of 89.63%.· Net loan obligations on 30/6/2022 amounted to 43.4 million, while on 30/6/2021 they were 43.0 million, i.e. they increased by 0.4 million euros One of the main factors affecting the company's turnover is the sales of raw marbles in the Chinese market. China, which in previous years absorbed approximately 60% of the company's exports, was reduced to 45% in 2021 and even more to just 25% in the first half of 2022.The sudden increase in the price of oil and electricity, a result of the unprecedented international crisis, the problems in the supply chain and the unimaginable costs of transport due to the given situation create a very difficult business environment. The pandemic that has caused a permanent lock down in the Chinese market, but also the bad developments in the global market, limited the company's potentials to manage to return to pre-Pandemic figures. But at the same time there are also positive effects for the company, reducing the risk of its dependence on the Chinese market and focusing its strategy on increasing sales dispersion. The increase in sales of semi-finished and finished products by 30% in the first half of 2022, compared to the corresponding period last year, have modified the sales mix. The company continues to invest in upgrading production both quantitatively and qualitatively by expanding its presence in new markets on the one hand, and on the other in markets that bring greater added value, such as the USA and the Arab Gulf countries which are the largest markets for processed Greek marbles. The company has also turned to markets that absorb large quantities of raw products of lower quality such as the countries of North Africa, Tunisia, Algeria, Egypt and Morocco. IKTINOS is simultaneously following its inquiry to find new deposits, and is currently investigating more than ten areas in N. Greece and abroad. With the given situation, the preparation for the next day becomes even more difficult as the developments in the global market change at a very fast pace. The Management of the company closely monitors the developments focusing on flexibility and quick adaptability to the changes brought by unexpected external factors.