Announcement regarding the basic financial figures of ELGEKA Group during the third Quarter and Nine-months period of 2022

ELGEKA Group continues to present an increase in its activity during 2022, within an environment that constantly poses greater restrictions and challenges both to consumers and the businesses.

The basic figures of the Group were formed as follows:

The Sales for the nine-months of 2022 amounted to 145,2 million euro against 137,9 million euro in the comparable period of 2021 (increase by 5,3%), while for the third quarter of 2022 amounted to 50,7 million euro against 47,5 million euro in the comparable period (increase by 6,8%).
The Profits before interest and tax (“EBIT”) for the nine-months of 2022 amounted to 5,1 million euro against 4,5 million euro (increase by 13,6%), while for the third quarter of 2022 amounted to 1,1 million euro against 1,0 million euro (increase by 13,3%).
The Profits before interest, tax, depreciation and amortization (“EBITDA”) for the nine- months period amounted to 11,2 million euro against 10,5 million euro (increase by 6,5%), while for the third quarter amounted to 3,1 million euro compared to 3,0 million euro (increase by 4,7%).
The Adjusted Profits before interest, tax, depreciation and amortization (“Adjusted EBITDA” without the impact of IFRS 16) amounted to 7,5 million euro for the nine- months period compared to 6,9 million euro (increase by 8,2%), while for the third quarter amounted to 1,9 million euro compared to 1,8 million euro (increase by 4,8%).
Group’s Equity on 30.09.2022 amounted to 10.582 thousand euro against 11.297 thousand euro on 30.06.2022, while the borrowing position of the Group in the same date amounted to 83.330 thousand euro against to 83.339 thousand euro on 30.06.2022. The other figures of Financial Position of Group do not present any significant change.
The energy crisis has as a consequence the increase of both transportation and storage cost due to the energy used in it, a fact which tends to reduce the profit margin in activities of trading and distributing of products. ELGEKA Group’s results have been affected to controlled degree by this factor, as a series of actions, such as the adjustment of selling prices, the more efficient management of orders and routes, the saving of energy achieved through relevant investments, contributed to this direction.

At the same time, the further development in the activity of trade of food and other consumer goods as well as in the segment of logistics services had as result the offset of the aforementioned negative factor and finally the increase of operation profit compared to the comparable year of 2021.

ELGEKA Group has a strong portfolio of products and holds a strategic position in the market of both Greece and Romania, a fact which allows it to absorb a significant part of changes in demand resulting from the wider economic environment. Alongside, it is in a continue process of enriching its portfolio, by exploring for new partnerships or expanding existing ones, shielding in this way its financial figures and creating the necessary circumstances for their further development.

At the same time, the long-term partnerships which maintains in the logistics services with some of the most important business groups in their field as well as the completion of new agreements with companies which present especially positive prospects, contribute to the achievement of positive growth rates.

Finally, it is pointed out that ELGEKA Group is not affected directly from the war conflicts in Ukraine and the imposition of sanctions against Russia, as it has not business presence in these countries, and it also does not procure goods from these countries