Κ4-02-021

Kifisia 28/08/2020

 

Announcement on the commentary of the Financial Statements for the first half of 2020

 

PAPERPACK SA continues its profitable course, in the period of the first half of the year from 1/1/2020 to 30/06/2020. More specifically:

The turnover of the Company amounted to € 9,254 thousand compared to € 10,031 thousand in the corresponding period of the previous year, showing a decrease of 7.74%.

The operating profits (EBITDA) of the Company amounted to € 2,315 thousand compared to € 2,567 thousand in the corresponding period of the previous year.

The results before taxes amounted to profits of € 1,426 thousand compared to € 1,590 thousand in the corresponding period of the previous year.

Profits after taxes amounted to € 1,038 thousand compared to € 1,172 thousand in the corresponding period of the previous year.

The number of employees of the Company on 30/06/2020 amounts to 168 people while on 30/06/2019 it amounted to 162 people.

The Company presented positive operating cash flows of € 1,990 thousand compared to € 2,758 thousand in the corresponding period of the previous year.

Cash and cash equivalents amounted to € 2,279 thousand compared to € 2,079 thousand in the corresponding period of the previous year.

The basic earnings per share amounted to € 0.2626 compared to € 0.2964 in the corresponding period of the previous year.

The company implements investments in mechanical and other equipment amounting to more than € 1.5 million in the current year.

The extent of the effects of the spread of the COVID-19 pandemic cannot yet be quantified, as it depends significantly on its duration, as well as on the measures taken by governments around the world to reduce it.

 

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