Financial results 2014

Date: 31.03.2015

Financial results 2014

VARVARESSOS S.A. turnover during 2014 reached 16,3 million EURO compared to 17,8 million EURO in 2013. The company’s exports came up to 10,96 million EURO which is 67,27% of the revenues. Profits before depreciation (EBITDA) have reached 2,24 million EURO contrary to profits 11,5 million EURO during the same period of 2013. Profits after taxes reached 0.7 million EURO compared to profits 9,5 million EURO in 2013.
On 09.10.2014 the company succeeded to sell a property for 9.350.000 EURO. The whole amount was allocated to reduce debts of the company.
On 10/11/14 the Ministry of Development extended the company’s implemented restructuring plan till the end of 2016.
The aforementioned statements are posted at the company’s website

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