Financial results 2016

Date: 28.04.2017

Financial results 2016

VARVARESSOS S.A. turnover during 2016 reached 18,97 million EURO compared to 18,7 million EURO in 2015 an increase of 1,44%. The company’s exports came up to 13,26 million EURO which is 69,90% of the revenues. Losses before depreciation (EBITDA) have reached 217,26 thousand EURO contrary to losses 1,259 million EURO during the same period of 2015 which is an important reduce of losses about 82,7%. Gross margin was positive at 910 thousand EURO (4.79%) vs. 217 thousand EURO (1.16%) of the previous year. Losses after taxes reached 1,96 million EURO compared to losses 3,08 million EURO in 2015 which was a 36% reduce of losses

The aforementioned statements are posted at the company’s website

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