The cash reserves of its “big ones” are maintained at satisfactory levels Athens Stock Exchangeas the constant improvement in profitability appears to largely balance both the “generous” dividends for shareholders (estimated at €4 billion by 2024 – a multi-year record) and continued growth investments.
Financial data for the first half of the year shows that the total fund (cash and cash equivalents) of the 21 non-bank blue chips, still exceeds 12 billion euros (12.3 billion euros, to be exact), despite a -quite justified- 6% delay compared to the end of 2023 (13.1 billion euros).
Stock Market: The Timeline for Third Quarter Corporate Earnings
Those listed with the largest fund
In individual companies, the largest… portfolio belongs to PPCwhich has a liquidity of 2.1 billion euros. This, in fact, helped the administration to return to the distribution of dividends this year (95 million euros), ignoring the “inflated” debt, which burdens the balance sheet with the amount of 6 billion euros.
The amount of money available is also at high levels GEK TERNAwhich reaches 1.4 billion euros. And this makes the debt of 2 billion euros clearly more manageable – without including in this amount the benefit of the counterpart for the imminent sale of the stake in Terna Energy.
From then on, engine oil and Coca Cola, against the fact that they “distributed” a dividend of 199 and 346 million euros, respectively, they see the fund remaining stable above one billion euros. As for the Hellenic Energy, its liquidity is estimated at around 800 million euros.
In her case MetlenNow, cash reserves amount to 747.6 million euros, with the decrease compared to December 2023 (919 million euros) attributed, on the one hand, to this year’s dividend (275 million euros), on the other, to large investments. The administrations also have a fund of more than half a billion OTE – Ellaktor – Lamda Development – Aegean.
Stock Exchange: With liquidity of 2.2 billion euros, the “average” – Who has the largest fund
The comparison with 2023
Making a comparison with the end of December, it appears that 12 listed companies see liquidity at lower levels, while nine listed companies manage to “lay eggs» available money.
Of these, therefore, the biggest percentage drop concerns Sarantis (-75%), which is linked to the acquisition of Stella Pack, while in absolute terms the sharpest decline is recorded in the PPP (from 2.59 to 2.11 billion euros), with the last acquisitions will be responsible for the reduced fund.
On the other hand, the greatest increase occurs in OTE both in percentage (+47%) and in absolute size (222 million euros).
Largest cash reserves of non-bank blue chips (H1 2024/H2 2023)
• PPP 2.11 / 2.59 billion euros
• GEK TERNA 1.38/1.31 billion euros
• Engine Oil 1.25 / 1.32 million euros
• Coca Cola 1.09/1.26 billion euros
• Helleniq 799.4/919.4 million euros
• Metlen 747.6 / 919.9 million euros
• OTE 686 / 463.9 million euros
• Less 643.6/520.6 million euros
• Lamda 523.5 / 464.1 million euros
• Aegean 541.5 / 575.7 million euros
Stock Exchange – Listed: More than 7.8 billion euros of funds “rained” in the last 2 years
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)