2024-07-12 00:10:04
His increased income tourismthe manufacturing activity, the boom of companies IT and favorable spreads interest rates to banking sector are the 4 main catalysts for the positive picture presented by the performance of listed companies in the first quarter of 2024.
THE 42 listed companies – out of a total of 144 – (percentage 30%) that announced results in this year’s first quarter showed a 23.85% increase in net profits compared to last year, as they amounted to 2.326 billion euros from 1.878 billion euros in the first quarter of 2023.
Basic financial data of AX listed companies. the first 3 months of 2024 (in euros)
EBITDA (operating profit) increased by 12.42% and reached 2.715 billion euros, from 2.415 billion euros in the first quarter of 2023.
Consolidated turnover in this quarter amounted to 20.176 billion euros, showing a marginal increase of 0.75%, compared to 20.025 billion euros in the first quarter of 2023.
It is worth noting that the first three months of 2024 constitute the fourth quarter in a row that the listed companies show a positive sign in the changes of their key sizes from 2020 onwards.
They are also clearly much better than those of 2019, i.e. before the pandemic.
The sample (1 out of 3 listed companies) is not representative but can be considered satisfactory, as we are talking about the largest companies in terms of capitalization that determine the trend of the listed company’s profitability.
Of course, for the whole of 2024, two factors will affect the formation of the final result, as well as the liquidity of the balance sheets.
The first concerns the extraordinary taxation of the profits of the refineries of the previous year, which will amount to 300 million euros.
The second extraordinary factor concerns the transaction of Terna Energy, which will have a positive effect of 500-600 million euros, as it will appear in the profit line of the parent GEK TERNA at the end of the current year.
Extraordinary income will be seen in Motor Oil’s annual balance sheets from the sale of Elektor, while the addition of new holdings such as Enel of Romania and Kotsovolos will support the increase in sizes at PPC, as will Stella Pack for Sarantis.
The contribution of banks
The five banks (Alpha, Ethniki, Eurobank, Piraeus, Optima) showed a total net profit of 1.129 billion euros in this quarter, from 790.6 million euros in the corresponding period last year.
Total profitability for the first half of the year is estimated to approach 2.3 billion euros from 1.86 billion euros in last year’s half purely from operational performance.
The relative delay observed in interest rate cuts from European Central Bank will limit this year’s effects for Greek credit institutions in the second half of the year, while at the same time it seems that the banks will compensate to a very significant extent any losses through the inflation of commission income (asset management activity will contribute in this direction) .
For the first time since the fiscal year 2008, the Greek banks will distribute dividends, within July, which amount to 814 million euros.
The approval to distribute a dividend seals their return to normalcy, with the Greek banking system having traveled a difficult road.
Eurobank will pay a total dividend of 342 million euros or 0.0933 euros per share, National will pay 332 million euros (0.36 euros per share), Piraeus will pay a total dividend of 79 million euros (0.063 euros per share) and Alpha Bank 61 million euros (0.026 euros per share).
Other companies with a strong influence on shaping the results, such as METLEN, Titan, Airport El. Venizelos, HEXA, Jumbo, Coca Cola, have already given guidance for higher performance in the trends prevailing after the Q1 period compared to last year.
Foreign sellers in June cathodic
Foreign investors were sellers in June Stock exchange, liquidating shares worth 62.47 million euros. In contrast to the domestic share holders, who in the sixth month of the year made inflows of 62.47 million euros.
The distribution of the Portfolio Value of Beneficiary Units was 65.08% for foreign unit holders and 34.92% for nationals.
According to AXIANumbers June 2024 data, the Stock Market moved downwards during June, with the General Index showing a decrease of 1.93% compared to May levels.
Also last month, 1,634 new client and registered broker accounts were created compared to 1,809 new accounts in May, while collective client accounts as a whole (registered broker shares and collateral shares) hold €2.80 billion, i.e. 3, 05% of the total portfolio value.
The capitalization of the Stock Exchange stood at 91.85 billion euros at the end of June, showing a decrease of 2.27%, compared to the levels of May (93.98 billion euros).
The transaction value for June 2024 reached 2.336 billion euros, marking a decrease of 24.12% from the previous month’s transaction activity, which was 3.079 billion euros, while in relation to June 2023, when the transaction value was 2.535 billion euros, there was a decrease of 7.46%.
The countries with the largest portfolio value (customer shares) for the month were the USA, with a total portfolio value of €12.90 billion, Cyprus, with a portfolio value of €10.52 billion, and Germany, with a portfolio value of €5 .54 billion euros.
Foreign unitholders made 61% of total transactions (buys & sells) in June 2024 (compared to 68.7% in the previous month), while domestic unitholders made 39% of transactions (compared to 31 .3% in the previous month).
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