Financial results for the 6-month period of 2022

Date: 30.09.2022

Financial results for the 6-month period of 2022

VARVARESSOS S.A. turnover during the 6-month period of 2022 reached 4,459 million EURO contrary to 4,095 million EURO in the same period of 2021, increased by 8,88%. The company’s exports came up to 3,9 million EURO (87,48% of the total revenues). Losses before depreciation (EBITDA) have reached -2,271 million EURO contrary to losses -1,456 million  EURO during the same period of 2021. The company’s result was formed in losses of -3.46 million EURO for 2022 compared to losses of -2,45 million EURO in the corresponding period of the previous year.

The Company is in contact and discussions with strategic investors and investment funds for the financing of the Company.

After the completion of the business plan and the expected financing of a new investor, the Company, according to the Independent Business Plan (IBR), will have a new sustainable perspective by penetrating new, innovative, niche markets, and also a financing stability, liquidity and profitability.

The aforementioned statements are posted at the company’s website