“Sphere” goes Energean in London

ENERGEAN: We observe, among many others, the share of Energean in London. From mid-August until now, it has run a race of 50%, from 6 to 9 pounds, as investors and analysts see that the day of the start of gas production in Israel is approaching, production in Egypt and Italy is going well, while the group had in early September its first announcement with the fully integrated acquired Edison E&P , something that seems to have been fully realized from the markets the size of the “new” Energean.

The market has started and “sees” the sizes predicted by the group in the medium term: daily production (in the vast majority of gas), almost $ 1.5 billion EBITDA per year.

Given the green climate, it is very likely that ESG sector performance , after Energean has been rated AA by MSCI, shows a steady decline in emissions and has significantly enhanced diversification , with the participation of more and more women in senior management. A more recent example, the assumption of Country Manager duties in Greece by (from Grant Thornton) Katerina Sardi .

All this is very good for those who have invested in the paper.

Since we talked about Greece, however, we realize that the great losses of Prinos during the last two years and the .. Non-developments in the projects that the company has in the development and research of hydrocarbons in our country, are completely ignored by the investing public.

In other words, they do not measure what characterizes the internal front, fortunately for the group, unfortunately for our reality, which proves to be negligible for the markets …

DAPSOS PLASTICS : Daios is one of the listed companies that were severely affected by the pandemic, as in addition to the plastics sector, it has a strong presence in the hotel sector .

If in all this one also takes into account his net borrowing o closed on June 30 at 85 million euros (debt interest 1.42 million only in the first half), then realizes the challenges facing the company.

However, things are evolving this year much better than last year . In the first half, it increased its plastic sales by 28% and also saw its two hotel units start reopening. Thus, pre-tax losses in the first half fell from 4.18 to 1.4 million euros.

Even better, however, is expected to develop in the second half of 2021, as – beyond “Traditional” positive seasonality that the company shows in the specific period of time – the growth in the plastics sector continues and tourism moves better than the initial forecasts, how much better than last year.

Specifically, the management of Daios estimates, among other things, that “in the field of industrial production, it is expected that there will be a continuation of the consistent course of the first half of 2021, with an estimated increase in turnover in double digits” and also that “the revenues of the hotel industry are revised for the better as the tourist season progresses, compared to the forecasts at the beginning of the year, however, due to the sharp fluctuations mainly due to external factors, their evolution can not be quantified consequence for sec

In conclusion, the administration of Daios concludes, based on the current data and the course of the pandemic, it is expected to increase the work in double digits and for the second half. The progress of the works will depend mainly on the revenues of the hotel unit in Crete and the epidemiological situation of the country in the months of September-October “.

MODA BAGNO: Much better this year the listed company, as in the first half returned to profitability (from -807 to +224 thousand euros) and reduced its net debt to 5.89 million through positive free cash flows

In addition, the management of Moda Bagno is optimistic about the second half of 2021, noting that “the business environment in the areas where the company operates, until the publication of the financial report, have significant improvement, which will be seen in the financial results of the second half.

The already continuous increase of the construction activity and at the same time the extremely good course that the tourist season had this summer in our country have can be seen in the results so far of the INTERNI restaurant in Mykonos , where the turnover will approach the levels of 2019. As a result, the company currently has liquidity reserves and does not face any problems in

B&F: The financial results of the first half of the year for the bondholders of the clothing company B&F caused a positive surprise.

It was not only the increase in sales from 25.1 million to 31.2 million euros, but also the return to satisfactory profitability despite the restrictive measures due to the pandemic (from -765 thousand to +3.07 million euros), as well as the achievement of positive free cash flows, amounting to 7.8 million euros.

Note that through own bond purchase programs, the company has acquired through the ATHEX its own bonds with a price lower than “100”.

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