The Income of IPTO HOLDINGS SA for the period January-December 2021 reflect its participation by 51% in the profits of the IPTO SA Group. and amount to 35.4 million euros, recording a decrease of 18.3% compared to the same period in 2020.
The Operating expenses during the period under review amounted to 601 thousand euros compared to 419 thousand euros in 2020. This increase is mainly due to the fact that the executive members of the Board in the period 01.01.2020- 15.07.2020 had given up their salaries as they held executive positions in affiliated Company IPTO SA, while an increase of 70 thousand euros is due to expenses related mainly to trading on the Athens Stock Exchange but also to services related to the Company’s compliance with the provisions of the law on Corporate Governance.
As a result of the active management of cash and cash equivalents, the financial income amounted to 157 thousand euros compared to 264 thousand euros in 2020, offsetting a significant part of the Company’s Operating Expenses.
The Cash Available of the company on 31.12.2021 amounted to 4 million euros. while it is worth noting that its debt is zero.
The Net profit of IPTO HOLDINGS SA amounted to 35 million euros, recording a decrease of 19% compared to 43.2 million in 2020. In June 2021, the Company received as a dividend the amount of 21.45 million euros from the Affiliate company IPTO SA, of which , distributed as an interim dividend the maximum amount provided by the legislation for the financial year 2021, adjusted to the total expenditure and which corresponded to 19.8 million euros or 0.085 euros per share, and this amount was the total dividend for the use 2021.
In addition, the Company based on the dividend it will receive from the Affiliate IPTO SA. within 2022, will propose the distribution of the maximum permissible interim dividend of a gross amount of 0.068 euros per share for the year 2022.
* See on the right in the Column “Relevant Archives” the Financial Results 2021 of IPTO.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
