Absolute satisfaction must be felt by the main shareholders her Petropoulos S.A., Kostas and Yiannis Petropoulosfor the performance of the historic company (founded in 1922), which operates in the import/sale of automobiles, buses, trucks, motorcycles, engines and agro-industrial machinery.
And this is because the people in the administration, especially the CEO, Michalis Economakistook the listed company’s profitability to… another path, succeeding consecutive records.
It is typical that 2023 “ran away” with turnover of 213 million euros (+36.8%) and net profit of 8.1 million euros (+24.6%), improving the historical performance of 2022. In fact, it is not excluded that 2024 will close at the same or even higher levels, given that in the first quarter sales exceeded 50 million euros and net profits of over 1.5 million euros were maintained.
Michalis Economakis’ management is undoubtedly largely credited for these increasingly improved performances as well as together with the CEO Theodoros Anagnostopoulos, created an effective duo, justifying the choice of the main shareholders to grant management in 2019.
That year, sales were 117 million euros and net profits amounted to 3.5 million euros. So, in a period of 5 years, the numbers soared. 82% and 131%respectively.
The attractive evaluation
And Michalis Oikonomakis can, who has a rich resume and at the same time is your boss Hellenic-Nigerian Chamber of Commercehaving lost the “battle” for the representation of the uprising BYD in electric carsbut that didn’t stop him from opening the company’s coffers and distributing a dividend of 0.86 euros/sharemore than triple last year’s value.
All this made her better its value listed for 60 million euros (8.5 euros/share), which is obviously still considered low based on fundamentals, given that the profitability multiplier ratio P/E below 5x. Let us not forget, however, that there was a 20% correction from the recent all-time highs of 10 euros.
The e-scooter project
Meanwhile, the project of “Ecological change“, which concerns the production of an electric scooter “made in Greece” and which, at least in the first phase, will be aimed at organizations and companies.
To meet the needs of the project, which is expected to be completed by the end of this year, the Economakis administration has budgeted additional investments 1.8 million euros in 2024.
Petropoulos: The “made in GR” vehicle, the… Chinese and the impact on acquisitions
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)