Hefty gains for market’s leading firms

TAGS: Business

The country’s 500 most profitable companies in 2017 generated impressive returns according to the figures stemming from their financial reports as processed by ICAP for its special annual publication “Business Leaders in Greece 2018.”

The total turnover of the 500 leading firms in terms of profits rose 9.5 percent last year compared to 2016, reaching 91.02 billion euros.

Their total earnings before interest, tax, depreciation and amortization (EBITDA) grew 15.1 percent year-on-year to 12.8 billion euros, while their total pretax profits were up 25.8 percent compared to 2016, amounting to 7.2 billion euros. Last year’s top-500 performers also posted a 5.1 percent increase in their assets, which added up to 78.88 billion euros.

Based on their operating profits, the top five companies in the industrial sector last year were Hellenic Petroleum (HELPE), Motor Oil, Papastratos, Mytilineos and ElvalHalcor. In retail commerce the best performers were AB Vassilopoulos, Jumbo, Hellenic Duty Free Shops, Sklavenitis and Masoutis.

In the service sector (excluding financial companies) the leaders were PPC, OTE, Cosmote, Athens International Airport and OPAP, and in tourism it was Autohellas, Technical Olympic, Sani Resort, LeasePlan Hellas and Faiax.