Ukraine: Warehouses with products of the Greek Elton were blown up

of Matinas Harkoftaki

The developments concerning the activities of the Elton group in Ukraine are rapid. According to secure information available to Capital.grthe warehouses in which the products traded by the listed company were housed were completely destroyed and which are mainly channeled to the Ukrainian market, while an official announcement from the group is expected to be issued within the day.

Extensive damage was caused to the warehouses after they were attacked and exploded, destroying all the products that were stored.

“This is a large logistic center, which is located on the outskirts of Kiev”, note to capital.gr sources close to the company and continue saying:

“Elton leases a portion of these warehouses, which it has been using since the first day it began operating in that country.”

It is worth noting that this is a logistic center, in which they had chosen to house their products in addition to the Greek Elton and other companies about 40 to 50.

So far, the listed company does not have a clear picture of the quantity of its products – mainly chemical raw materials intended for industrial use – that have been destroyed while searching through its accounting system to identify the exact numbers that will allow it. estimate the extent of the damage more accurately.

It should be noted that the Elton group maintains in Ukraine the subsidiary Elton Corporation LLC based in Kyiv, which has suspended its activities since the first day of the Russian invasion of Ukraine.

“It is a small company, which employs 10 to 12 employees. It has not yet managed to grow,” they note in Capital.gr the same sources. We remind you that the participation of the Ukrainian subsidiary in the financial figures of the group is limited and is not expected to have a significant impact on them.

Specifically, its contribution is estimated at 1.6% in terms of the financial position of the group, 2% in terms of turnover and 0.8% in terms of its financial results.

Its exposure to the local market of Ukraine is also moving at a low level, at the same time that the management of the group is in constant contact with its associates on Ukrainian territory in order to be informed of all developments.

It should be noted that the group, which has more than 40 years of activity, distributes more than 8,000 products in 15 countries, while the same sources state that in addition to its suspended operations in Ukraine, its activities in the rest continue unabated without problems. .