INTERTECH: The return to profitability (semi-annual net result +119 thousand euros) in combination with a series of management agreements that have expanded the range of products offered by the listed company, are undoubtedly good news for Eurobank, which will at some point seek to liquidate its stake in Intertech (what until the summer was held by Dimitris Kontominas ).
After + 23% in first half sales (from € 8.79 to € 10.84 million), Intertech’s management estimates that second half of 2021, it is considered difficult to maintain the growth rate of sales in the first half, but it is expected that the positive course of turnover will continue “.
MOUZAKIS: Net profits approaching one million euros were recorded by the Mouzakis group in the first half of this year, while achieving such good cash flows that on 30/6/2021 it has positive net fund EUR 1.43 million .
And this despite the fact that in the first half of the year another part of its high debts was repaid to the heirs of its late founder.
KREKA: KREKA is in a difficult position, based on the results of the first half: Losses 1, EUR 2 million, negative equity EUR 20.8 million, negative working capital EUR 27.8 million, long-term loan liabilities which have become overdue and payment orders amounting to 11.6
The management of the listed company states that it has submitted a proposal to DoValue for the settlement of its bank debts , which is in the process of being evaluated by the managing bank.
DIONIC: Only by a miracle does Dionic seem to be saved, market circles claim. Apart from the loss-making result of the first half of this year (-1.5 million), the accounting statements show negative equity (-59.4 million euros), non-performing banking (close to 45 million) and other liabilities, but and the remarks of the statutory auditor, who among other things mentions:
- The stagnation observed in the discussions with the banks and the inability to reach refinancing agreement or restructuring of loan obligations.
- Second, the lack of business plan from which the ability to continue the activity arises.
At the same time, adverse developments such as:
- The inability of the group to maintain significant collaborations in the field of human resources services and in particular the exclusion companies of the group in its participation in public tenders due to lack of guarantees of participation and good
. The termination of imports of electrical goods due to lack of financing and exports of technology products to Europe.
Finally, overdue Atcom’s subsidiary ους 8.4 million also has loan liabilities.
VARVARESOS: “If the company had the required liquidity, it could “ much better economic results in the first half”, as demand from abroad was strong, yarn prices high and profit margins satisfactory “, noted market cycles (the has modernized its production equipment through a series of investments).
However, the loss of EUR 2.45 million brought equity to net debt to be set at EUR 14.5 million, to which should be added and another big opening to PPC .
Everyone understands that without…
For its part, the Varvaresos administration states that it has commissioned Grant Thornton to draw up Restructuring Business Plan for the company and for informing investors. “The management, in direct cooperation with its advisors, coordinates the actions with the banks, in order to make targeted contacts to find an investor or a strategic investor to finance it. “Exploratory contacts are underway, in the framework of which discussions are held with investors and investment funds both domestically and abroad”, it is typically mentioned.
ALUMINUM: Moments of glory for the aluminum industry. Three important factors contribute to enhancing the profitability of related companies. First of all, China’s decision to carbonize and shift to a “green” economy. From overproduction of aluminum and meeting the demand itself, it has now entered a green transition trajectory. This practically means that new stricter rules are imposed in this country as well, so it is in the process of reducing its production.
Secondly, after the lockdowns, during which it was recorded accumulation of liquidity , economies recover and consumers, slowly but steadily, return to their consumer habits, and therefore to products that have aluminum as a raw material.
Third , aluminum is very actively involved in the energy transition . For example, photovoltaic panels are made of aluminum in Greece and abroad. Like the columns for wind turbines, batteries, etc. Therefore, the demand for aluminum is further strengthened.
All this leads to a very large increase in demand, It is called unrealistic in the market when supply is low. This justifies the very large increases in aluminum prices internationally, as the product can not be replaced by another metal.
Experts say that these three factors came to stay, therefore, Aluminum prices will also increase.
Entrepreneurs in the industry are rightly smiling.
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