You should read with satisfaction George Gatzarosits main shareholder and president Papoutsaniyour report Euroxxwhich gives an upside of 46% for the listed company’s shares. This is yet another piece of news that adds to the recent flurry of positive developments.
Let’s not forget that in mid-April the administration announced the distribution of a new dividend, but also the improving net profitability of the first quarter by at least 50%, thanks to the normalization of raw material and energy prices.
For the whole of 2024, Giorgos Gatzaros, who controls 24.4% of the share capital and has served as president for 14 years, expects a significant strengthening of financial figures, especially in the second half of the year“betting” heavily on new partnerships and increasing the production potential of the Ritsona factory – one of the most modern in the soap sector in Europe.
Analysts are optimistic operating profit of 11 to 13 million euros for the year as a whole compared to 9.2 million in 2023 and 7.2 million euros in 2022.
After personal care goods and hotel products to be the spearhead of the listed company, which is now worth more than 67 million euros in Athens Stock Exchangethe next day looks quite auspicious for Giorgos Gatzaros, as exports account for 58% of turnover and the share is around 2.5 euros, not far from the highs of the last 2 years (2.7 euros).
The price – your goal Euroxx take the forearm in 3.6 eurosthat have been ignored since 2007 (!).
The near bankruptcy
Of course, things weren’t always so rosy for him and the company. Thanks to his own intervention as well as his Menelaus Tasopoulos (shareholder with 23.7% and general director) was avoided 2010 the collapse of the historic industry, which counts more than 150 years of life.
At that time, the two men decided to take action, regaining management and the family’s majority stake. David Leventiswhich controlled the listed companies since 1989.
Reestablishing the historic brand – it had been temporarily changed to Plias SA-, the capital “injections” and large investments were gradually rewarded and led Papoutsanis back to prosperity (turnover fivefold compared to 2010), with the pandemic era proving to be one of the best in history of, as the turnover exceeded the value of 70 million euros (use the year 2022).
It is possible, however, that there will be a new record this year.
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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 stock)