Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of 3.18 million euros for IKTINOS HELLAS in the 9 months of 2024. Positive prospects for 2025
- Increase in turnover by 23.12% and EBITDA by 189.50% in the 9 months of 2024
- Entry into new markets for the supply of marble in large projects abroad
- Two new quarries in Drama with the popular white dolomite marble in international markets and two new quarries in Livadia with gray and beige marble
- The restructuring of the Company's borrowing with Alpha Bank has been completed. Τhe restructuring of its borrowing with National Bank and Attica Bank is being completed
- • Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was recorded by IKTINOS HELLAS for the 9 months of 2024 at the parent company , which amounted to 3.18 million euros compared to 1.10 million euros. in the corresponding 9 months of 2023, showing an increase of 189.50%.
- • The turnover for the 9 months of 2024 amounted to 22.44 million euros compared to 18.22 million euros in the corresponding 9 months of 2023, recording an increase of 23.12%.
- • The results before taxes, the company reduced losses by 1.6 million euros and a percentage of 48.61%, which amounted to 1.69 million euros compared to 3.29 million euros in the corresponding 9 months of 2023.
- • The total Net borrowing for the 9 months of 2024 amounted to 42.4 million euros compared to 43.8 million euros, recording a decrease of 1.41 million euros compared to 31/12/2023.
- • The Company completed the restructuring of its debt with ALPHA BANK, while the general framework has been agreed with NBG and ATTICA BANK and the relevant contracts are expected to be signed immediately. The restructuring concerns the amortization of Bond Loans for the years 2023-2025 with a total value of 11.05 million euros.
- • The company met the challenges created by the difficult business environment shaped by various factors such as the increase in labor and energy costs, geopolitical and economic developments, uncertainty regarding environmental standards, as well as the continuous interest rate increases by the European Central Bank until the end of 2023, as well as the serious problems plaguing the supply chain.
- • Also, the decline in exports to China pressured the overall results of the broader Greek marble sector and significantly affected the company's results in previous years. IKTINOS HELLAS compensated for this decline with exports to other new markets, developing a sales network of finished products by undertaking the supply of marble to large projects abroad.
- • Since the beginning of 2024, IKTINOS HELLAS SA has been operating four new quarries, two in the Drama region with white dolomite marble where demand is very high.
Also with two new quarries in Livadia, one with gray marble and the other with beige marble which are alternative proposals in decorative options and are also in high demand. In order to strengthen its production of raw material, in addition to the above quarries, the company expects to receive the permit for the expansion of the existing quarry of approximately 100 hectares in Volakas within the coming days. An expansion that will bring about a production increase of 20% for 2025, with continued growth for the following years.
- • Based on a business plan that the company has drawn up for the years 2024-2029, and a gradual return to the figures of previous years.
This is confirmed by the increase in all significant figures in the 9 months of 2024.
- • Finally, the Management is closely monitoring the developments of the global market, promoting the enhancement of productivity.
The goal is to further reduce production costs, which will occur qualitatively and quantitatively, due to the better performance as a result of its investment program of the last three years.