The financial results of the P. Petropoulos Group showed a decrease during the first half of the year, according to the data published by the listed company.
In particular, the Group’s sales during the period 1 January – 30 June decreased by 5.5% and amounted to €70.24 million from €74.36 million on 30.6.2021, which had marked a very large increase compared to the first half of the previous year.
The fall in sales is due to reduced sales in the agricultural sector, pending the start of the new National Improvement Plans, as well as ongoing pressures on the vehicle and parts supply chain.
The increase in expenses comes mainly from non-recurring expenses, inflationary pressures on the prices of suppliers of products and services, as well as increased storage costs to reduce the impact of difficulties in the supply chain.
Despite the difficulties of the external conditions, the profit margin remained at the same level as in 2021.
Profits after taxes and minority rights decreased by 38.1% and amounted to €1.69 million against €2.73 million on 30.6.2021.
Total bank lending decreased by 31.8% to €9.00 million from €13.20 million on 31.12.2021, while net bank lending was nil (0).
The Group’s solvency ratio (net position as % of total assets without cash and equivalents) on 30.6.2022 was 61.9%.
Source: Capital
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