COMMENTARY ON FINANCIAL RESULTS FOR THE FISCAL YEAR 2024
COMMENTARY ON FINANCIAL RESULTS FOR THE FISCAL YEAR 2024
DAIOS PLASTICS S.A.
The company "DAIOS PLASTICS S.A.", with G.E.MI. registration number 21048426000, announces its annual consolidated financial results for the fiscal year 2024, confirming its dynamic growth and export-oriented nature.
The Group operates in two business sectors:
A) In the manufacturing sector, the Company primarily produces specialized plastic-based products for agricultural purposes. It holds more than 50 patents, both European and PCT, which enables it to place its products in markets such as Germany, the Netherlands, the United States, and others.
B) In the hospitality sector, the Company operates a 5-star hotel in Thessaloniki as a branch. At the Group level, there is also the totally owned subsidiary HELLAS HOLIDAY HOTELS S.A., which owns a luxury hotel resort situated on a plot of approximately 32 hectares in Agios Nikolaos, Crete.
In fiscal year 2024, the Group's consolidated turnover reached €58,064,641.87, compared to €53,664,607.54 in the previous year, marking an 8.20% increase. In more detail, turnover from the plastics sector rose by 7.86%, amounting to €24,279,759.41, compared to €22,510,843.95 in 2023, while sales from the hospitality sector (services rendered) amounted to €33,787,347.07, up from €31,154,954.64 last year, representing a year-on-year increase of 8.45%. The increase in turnover of the plastic sector in 2024 is primarily attributed to the increase in sale volumes.
The improvement in sales in the hospitality sector is partly due to increased prices compared to 2023, as well as a slight rise in occupancy rates.
At the same time, operating profits remained at high levels, registering an increase of 23.78%, earnings before taxes, financial and investment results, and depreciation (EBITDA) increased by 16.79%, and consolidated pre-tax profits rose by 41.42%.
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Key Consolidated Financial Figures (in € thousands): |
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2024 |
2023 |
Change |
|
|
Turnover |
58.065 |
53.665 |
8,20% |
|
Gross profit |
19.354 |
16.096 |
20,24% |
|
Operating profit |
12.960 |
10.470 |
23,78% |
|
Pre-tax profit |
9.394 |
6.642 |
41,43% |
|
Net profit (after tax) |
7.444 |
5.223 |
42,52% |
|
EBITDA |
17.547 |
15.024 |
16,79% |
Based on current data, there are expectations for improved performance in the Group’s operations and results in 2025. However, sales forecasts for the upcoming year depend on various external factors, mainly related to macroeconomic developments and cost pressures resulting from raw material price volatility due to the energy crisis, geopolitical uncertainty and, of course, the maintenance or further growth of demand for the Company’s products.
For more information, interested parties can refer to the Annual Financial Report 2024 and the XBRL file, both available in Greek on the Company’s website:
https://www.daiosplastics.com/el/financial-reports/