Varvaresos: At 8.22 million euros the turnover in 2021, increased by 9.76%

The turnover of the company Varvaresos in the year 2021 amounted to 8.22 million euros compared to 7.49 million euros in the corresponding period of 2020, recording an increase of 9.76%. Exports during the same period amounted to 7.77 million Euros or 94.49% of total sales.

Meanwhile, according to a relevant announcement of the company, the results before taxes of financial, investment results and depreciation (EBITDA) of 2021 amounted to losses of -4.35 million euros compared to losses of -74.74 million euros of 2020. The gross margin profit was negative at -3.77 million euros compared to -2.03 million euros in the previous year. The company’s results show losses of -6.78 million euros compared to losses of -5.78 million euros in the corresponding period of the previous period.

The management of Varvaresos is in exploratory contacts and discussions with investors and investment funds abroad for the financing of the company, it is noted in the announcement.

Following the completion of its consolidation business plan and the financing of the company by a new investor, according to the study prepared by the company Grant Thornton, the company acquires a new sustainable perspective by penetrating new innovative niche-markets focusing on sustainability, long-term financial , improved liquidity and profitability.