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Companies listed on Athens bourse take off on 9-month earnings

This is a new economic reality, where on the one hand, the bourse’s general index has not been able to break away from the 900-point mark for months, while on the other hand, many blue and mid cap companies have reported their strongest earnings figures.

Companies listed on the Athens bourse have unveiled a strong set of nine-month earnings, indicating that they have overcome the shocks of 2020.

This is a new economic reality, where on the one hand, the bourse’s general index has not been able to break away from the 900-point mark for months, while on the other hand, many blue and mid cap companies have reported their strongest earnings figures.

On Tuesday, OPAP announced turnover of more than 1 billion euros in the first 9 months of 2021, more than doubling net profits (+ 143%) compared to 2020, while Motor Oil, thanks to higher oil prices and fuel consumption, has achieved a historic high turnover of over 7 billion euros in the 9 months (compared to 4.47 billion last year), with net profits reaching 205 million euros, versus losses of 111 million euros last year.

The best results on record were announced yesterday by Quest Holdings group, showing group sales of 669.3 million euros, EBITDA of 57.9 million euros, while net profit after taxes increased fivefold (due to the sale of Cardlink).

Plaisio announced a turnover in the 9 months of 303.4 million euros compared to 234.9 million euros in the corresponding period last year (+ 29%). This is the largest 9-month turnover shown by the company in its 51-year history, which is one of the most favored of the pandemic, due to the growing demand for technology products. Earnings before taxes (EBT) increased by 131% to 4.5 million euros compared to 1.9 million euros last year.

Hellenic Petroleum also performed strongly in the 3rd quarter and 9-month period. In the consolidated financial results for the third quarter, the comparable EBITDA amounted to 125 million euros, up 90% compared to last year and 58% compared to the previous quarter. The corresponding net profit for the quarter amounted to 39 million euros. At the 9-month level, net profits amounted to 258 million euros, an improvement over last year (when there were losses) of more than 600 million euros.

Robust growth was also shown by OTE, which last year, of course - due to the nature of its services - had benefited from the crisis, while historic records were set by Mytilineos.

The company had a turnover of 1.698 billion euros in the first half of this year compared to 1.341 billion euros last year (+ 27%), while net profit, after taxes and minority interests, amounted to 115.2 million euros against 101.8 million. euros last year (+ 13%). If the comparison was made on an adjusted basis for extraordinary and non-recurring events, the increase compared to the 9 months of 2020 amounts to 55%.

Titan showed 9-month turnover of 1.268 billion euros compared to 1.202 billion euros last year (+ 5%), while net profit amounted to 81.9 million euros from 58 million euros last year, an increase of 41.4 billion.

Autohellas' performance was astonishing as, despite the lockdown of the first four months of this year and the delayed resumption of tourism activity, its turnover and profitability, both in the nine months and in the third quarter, exceeded pre-pandemic levels, ie 2019 which was the historically best tourist season for the country. Autohellas in the 9 months presented a turnover of 485.9 million euros compared to 360.6 million euros last year (+ 34.8%), while the group's profit after taxes (EAT) for the same period amounted to 46.4 million compared to 13.2 million euros last year, in an increase of 251%.

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