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Grigoris Group: EBITDA at € 10.7 million in 2020, compared to € 16.2 million in 2019

The Grigoris Group announced a reduction in Turnover and EBITDA for 2020, affected by the measures due to a coronavirus pandemic. In particular, according to the relevant announcement, at the beginning of 2020, both at group and corporate level, an increase in sales was recorded compared to the corresponding period of 2019. However, due to the compulsory measures to suspend economic activity imposed by the state Due to the pandemic, the Group’s activities received a slight decrease, with the result that its Turnover amounted to € 42.6 million (compared to € 62.0 million in 2019). Nevertheless, the company’s network of stores remained open and continued to serve customers through delivery and take-away, thus maintaining sales at such a level as to avoid significant losses. The Group’s operating profitability, as reflected by earnings before interest, taxes, depreciation and amortization (EBITDA), amounted to € 10.7 million compared to € 16.2 million in the previous year, mainly due to the limited activity of the subsidiary, operating in the closed markets of airports.

The capital structure of the Group remained strong, with the ratio of Equity to Total Liabilities amounting to 33%.

Meanwhile, during 2020, the Grigoris Group further expanded its network, with the opening and operation of 33 new stores in Greece and abroad. In this development context, the Group and the Company in the current year, employed an average of 385 and 130 employees respectively. At the same time, the Group, through its network of branches, employs more than 2,000 employees, thus offering jobs in the Greek Economy.

At the same time, the Grigoris Group, as mentioned in the relevant announcement, continues to set high goals of Sustainable Development (SDG’s) concerning Man, Society and the Environment. “With a strong sense of responsibility, both to its customers and to society as a whole, in 2020 it implemented a series of actions, maximizing its contribution to Corporate Social Responsibility. Key actions are the reduction of food waste, the support of local communities and the availability of environmentally friendly packaging “, the announcement concludes.

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Source From: Capital

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