2024-08-16 21:15:18
A cumulative one rally over 20% its share has recorded in recent days Cecrops at Athens Stock Exchange, making a first reaction after the recent plunge to the lows of the year (1.27 euros).
It is characteristic that, in today’s session, the stock of the listed company climbs by at least 9%, as a result of which it forms on the fringes of 1.55 euroswhile earlier it reached up to 1.61 euros.
In fact, the ongoing jump is accompanied by a particularly high transaction turnover, as 89,668 pieces have been traded so far, with a total value of almost 140,000 euros.
Today’s increase comes to continue the recovery path from this year’s lows of 1.27 euros (closing on August 5), with the cumulative increase to exceed +20%.
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This has the consequence that the stock exchange value of the company returns above the area of 30 million euros.
Of course, we must not forget that the plunge from early 2024 still reaching -20%with the year’s highs of 1.96 euros set just in the first session of the year.
The biggest problem
It is clear that the company purchase and sale of plots of land it is not going through the best period of its long history (it was founded in pre-war Greece in the 20s).
In the 12th month of 2023, Mr turnover fell to 13,000 euros (from 16,000 in 2022), while operating expenses remained 17 times higher (222,000 euros).
Kecrops’ biggest problem is the mix of its real estate portfolio, with most of it in process of expropriation by the municipality of Filothei – Psychiko.
This, in essence, deprives the administration of the possibility of exploiting the real estate, the objective value of which amounts to 41.5 million euros.
Therefore, without resolving all judicial and urban planning issues, any improvement in economic prospects, which will only come through the exploitation of real estate, becomes impossible.
Major shareholders
The main shareholders of Kecrops, but also the main blood donors in this difficult situation, are GEK TERNA with 37.2% and Intracom with 29.6 million euros.
6.6% is also controlled by Alpha Bankwhile o Petros Suretismanaging director of the listed company, owns a percentage slightly below 5%.
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(The above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)