The Mart, one of the key wholesale companies of the Sklavenitis Group and a major player in the Greek basic consumer goods market, recorded a significant decline in profitability for 2024, despite an increase in turnover.
Specifically, the company’s turnover reached €444.86 million, marking an increase of approximately 3% compared to 2023, when it stood at €432.15 million. This rise was mainly due to strengthened merchandise sales, which exceeded €412.9 million.
However, gross profits showed a slight decrease of 1.8%, reaching €88.05 million compared to €89.73 million the previous year, primarily due to increased cost of sales.
The profitability decline is more pronounced in net profits after taxes, which decreased by 44%, reaching €6.2 million from €11.1 million in 2023. This drop is attributed to increased cost of sales by approximately €14.4 million, rising operating expenses, as well as a slight increase in financial costs. Pre-tax profits also declined by 43%, from €14.38 million to €8.25 million.
The company’s EBITDA decreased by 19%, reaching €20.76 million from €25.69 million in 2023, demonstrating the pressure that increased expenses exert on operational profitability. Meanwhile, depreciation increased by 8%, reaching €6.49 million.
Read more at Powergame.gr
