Government factions are continuing to give the impression that all is well while downplaying the consequences of capital controls, the final results of nine months, in various sectors, paint a totally different picture. In the above framework, it is clear that external trade and a series of fields, such as insurance, construction, cement, metal, retail and IT are struggling to get out of the rut created by the government’s retractions. The only exceptions on an otherwise negative arket are tourism and, generally, transport.

In particulary, a major problem that has arisen in the retail market, especially in industries such as supermarkets that have a decline of around 7-10% and a weakness in carrying out the imports of raw materials and commodities.

A series of retail sub-sectors have also received major blows, such as electrical supplies, technology products (a large group is already considering restricting its network), furniture (with Neoset giving a battlel of survival) and even companies noting growth, such as Fourlis, ending up changing their plans. Within this frameowrk, the group reduced its losses from 10.2 million to 3.6 million, but could have expected even better results had the market been smoother.

Lamda Devepment S.A. noted losses worth 19.1 million euros during the nine months of 2015, compared to 4.7 million euros in the same period of the previous years, as a result of the plight of the real estate market. The damage from the revaluation of the group’s investment properties amounted to 20.6 million euros, up by 13.4 million euros compared to the same period last year. The positive trend of the commercial centers of the company could have been even greater had there not been capital controls.

The cement industry had internal problems once again that crushed the sector. Titan noted an increase in sales and profit, but not due ot Greece where activity has dropped. Instead, the positive course of the US market is what saved the group.

Specifically, consolidated turnover was at 1,029.5 million euros, noting gains worth 18.9%. Operational costs, prior to taxes, interest rates and depreciation (EBITDA) increased by 12.6% and amounted to 165.2 mln euros. In contrast, activities in Greece remained problematic in relation to the positive course noted abroad.