According to the study conducted by ICAP, in the framework of the issue of “Business Leadrers in Greece”, the 500 most profitable Companies and the 200 most profitable Groups in Greece in 2017 improved their profitability.
The 11th business edition of “Business Leaders in Greece” includes the most profitable Companies and Groups of Greece for 2017 and presents in detail the most successful Success Stories of the Greek market. In addition, it has a number of current articles by Eminent Officers and Executives.
This edition, which has been established by ICAP as an annual institution and benchmark for distinguished businesses, is fully aligned with ICAP’s values that guide it to promote and share the knowledge, to embrace and promote new ideas and to be close to its customers.
In the field of tourism, the leading companies are:
- Autohellas (Hertz) ATE
- Olympic Olympic SA
- Sani SA
- Leaseplan Hellas SA
- FAIAX SA
Top groups for 2017 (based on EBITDA profit) are the following
- OTE Group of Companies S.A.
- PPC Group of Companies S.A.
- Hellenic Petroleum Group of Companies S.A.
- MOTOR OIL (HELLAS) CORINTH REFINERIES S.A.
- OPAP Group of Companies S.A.
| Sectoral Distribution of Companies – Basic Sizes of 500 Most Profitable Companies (2017) | ||||
| Sector | Number of Companies | EBITDA Profit (in thousand €) | Profit before tax(in thousand €) | Turnover(in thousand €) |
| Industry | 165 | 3.587.535 | 2.366.644 | 29.380.940 |
| Trade | 94 | 1.196.154 | 699.733 | 22.770.139 |
| Tourism | 45 | 484.558 | 202.269 | 1.420.830 |
| Banks-Factoring | 12 | 1.325.318 | 1.120.391 | 7.219.805 |
| Insurances | 22 | 420.440 | 384.231 | 2.990.929 |
| Other services | 162 | 5.795.547 | 2.446.791 | 27.245.957 |
| TOTAL | 500 | 12.809.552 | 7.220.059 | 91.028.600 |
Statement of Nikitas Konstantellos
Nikitas Konstantellos, Chairman and CEO of ICAP Group, said: “After a long period of recession, the Greek economy was on the rise in 2017, as the country’s GDP recorder low but positive rates of change, which also continued during the first half of 2018.
The improvement of the economy was obvious not only in the country’s macroeconomic figures, but also in companies performances at that time. Indeed, according to the 2017 balance sheets, the 500 most profitable greek companies sifnificantly improved their results, achieving an impressive increase in their profitability. At the same time, the progress of both their overall sales and the capitals was positive.
More specifically, the total EBITDA profit of the 500 most profitable companies increased by 15% and reached to €12,8 billion. The total profit before tax increased dramatically by 26% and reached to €7,2 billion, an amount that exceeds the corresponding final net result of all the greek companies with available balance sheets for 2017.
The evolution of the profitability of issuing companies is undoubtedly a great achievement, considering the general unfavourable economic environment in which the corporate sector has operated in recent years. It is typical that 92 of the companies of this ranking are repeatedly distinguished as “Business Leaders in Greece” from 2008 to 2017. Therefore, they are rightly regarded as the “champions” of the country’s most profitable companies.
Consequently, these leading companies worth congratulations, since with their persistence and systematic effort they continue to record impressive performance. Surely, the economy’s revival with low but positive change rates favoured the business sector. Therefore, the need for the continuation of structural reforms and the domination of a stable economic environment is urgent, in order for the Greek economy to attract investments and to set the basis for a business-friendly environment”.
