One of the few Greek companies to record impressive profits amid the Covid-19 pandemic was the Petropoulos Group, as its earnings after taxes and minority interests amounted to 1.8 million euros from 200,000 euros in the corresponding quarter of 2020.
The group, dealing in manufacturing, modifying, distributing, and supporting a wide range of automotive products saw its total sales rise by 34.2%, during the period January 1 – March 31, and amounted to 29 million euros compared to 21.6 million euros in the corresponding period of 2020.
The group’s EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increased by 233, 4% and amounted to 2.8 million euros from 0.8 million euros on 31.3.2020. Profit before taxes amounted to 2.4 million euros, an increase of 550%, compared to 0.3 million euros in the corresponding period of 2020. Profits after taxes and minority interests also increased by 649% and amounted to 1.8 million compared to 0.2 million euros on 31.3.2020.
Total bank lending decreased by 27.3% to 18 million euros from 24.7 million euros on 31.12.2020 and net bank lending amounted to 10.3 million euros, from 13.7 million euros on 31.12. 2020.
Petros Petropoulos Commercial & Industrial S.A was established in Thessaloniki in 1922. It manufactures, modifies, distributes, and supports a wide range of automotive products including automobiles, trucks, and buses, generating sets, diesel engines, boats, outboard engines, agricultural, earthmoving, and industrial equipment, batteries, lubricants, and tyres. The Company has a leading position in the Greek market in the sectors which it serves.