It was founded almost a century ago (1927) by Asia Minor refugees, which had just been uprooted from its place and arrived in Attica. Years passed, little one industry fabrics was converted into SA, until in the 70s it was introduced stock Exchange, gradually gaining the trust of consumers. However, in recent years it has fallen on hard times.
Her reason Three Alpha Creation of the family Efraimoglu, which is waging its own “battle” to pull the listed company out of the multi-year quagmire. Today, the management of the company is in your hands Dimiri Efraimoglouson of Minas Efraimoglou, who passed away in 2019. Without a doubt, the new generation of the family is making recovery efforts.
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Improving the balance
Tria Alpha Eriourgia’s production process was interrupted and replaced by imports, with the aim of limiting operating costs. This development, combined with some other measures, led to swing on a swing.
It is characteristic that the operating profit in the 2023 semester they amounted to 162 thousand euros, with sales expand to 777 thousand euros (+58%). At the same time, the equity returned to positive territory (473,728 euros).
On the other hand, the loan obligations of the company exceeds 2 million euros, so high interest rates put pressure on the final “fund”, since corporate debt is characterized by floating interest rates. Therefore, any change in interest rates has a direct impact on economic numbers.
From time to time, Mr. Efraimoglou, owner of the 29.5% of shares (her sister, Christina, controls 14.2% and her mother, Agapi, owns 12.4%), received “bumps” for private property in Nea Ionia. At the same time, there is no shortage of rumors about the acquisition or conversion of a company into an imported “vehicle” AEEAP. However, all of this, to this day, remains… just scenarios.
Thus, the Efraimoglou family continues to fight their own daily “battle”. Don’t forget, also, that the company’s stock ends in Surveillance status since 2018, that is, for six whole years. Claim new contracts for the army clothes and the rest of the State seems to be the necessary condition for the listed company to turn the knob sustainability.
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(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)