Technical Olympic: Operating profits against losses

Operating profits against losses and a turnover of 6.8 million euros were shown in 2021 by the Technical Olympic group.

In particular, the consolidated turnover of the Technical Olympic Group from continuing operations for the year 2021 amounted to 6.816 million euros compared to 0.539 million euros of the previous corresponding year 2020, according to a relevant announcement.

The increase is mainly due to the charter sales of the subsidiary ROMA HOLDING LLC.

The consolidated gross results from continuing operations for the year 2021, were profitable and amounted to 0.356 million euros against losses of 4.16 million euros in the corresponding period 2020.

The consolidated operating results from continuing operations (before taxes, financial investment results and depreciation – EBITDA) for the year ended 2021 were positive and amounted to profits of 1.16 million euros compared to losses of 6.14 million euros in 2020.

Total equity amounted to 154.35 million euros in 2021 compared to 116.16 million euros in 2020, an increase of about 33%. This increase came from the valuation value of the 7 ships.

According to a relevant announcement, the financial figures of the Group reflect only part of the financial activity of the fully consolidated investments, as the ship ROMA contributed to the group results only for a period of 9 months and the other investments are expected to contribute within 2022.

The Technical Olympic Group, although in 2021 was a period of recovery of the Greek and world economy, due to the ongoing pandemic, intense inflationary pressures and the increase of energy costs and materials, continued its growth within the year.

At the same time, with consistency and dedication to the implementation of the investment plan, the Group continued the smooth implementation of its strategic planning, further enhancing its returns with a significant increase in turnover and operating profitability.