The pandemic throughout most of 2020 dramatically affected the balance sheets of Greece's ATHEX-listed company, with the deadline for announcing results for 2020 coming on Wednesday.
By A. Dokas
[email protected]
The pandemic throughout most of 2020 dramatically affected the balance sheets of Greece's ATHEX-listed company, with the deadline for announcing results for 2020 coming on Wednesday.
Total losses by listed companies reached 775 million for the year.
Nevertheless, profit-making companies, in absolute numbers, out-paced loss-making ones by a ratio of 6 to 4. Specifically, 89 companies traded on the Athens Stock Exchange (ATHEX) board reported net profits, compared to 60 that reported losses.
Refineries were the big losers of the year, a development attributed to unprecedented lower demand due to the Covid-19 pandemic.
Total turnover reported by the 149 listed companies for 2020 reached 56.773 billion euros, significantly reduced from 71.733 billion euros reported in 2019, a reduction of 20.9 percent. In terms of EBITDA, listed companies in 2020 reported 6.524 billion euros in profits, down from 9.237 billion euros in 2019.