ICAP: Greek businesses recover by 9.8% in the period 2016-2017

ICAP: Greek businesses recover by 9.8% in the period 2016-2017

A significant increase of 9.8% recorded in the period 2016-2017 the revenues of the non-financial sector, amounting to EUR 125.9 billion. According to figures from an ICAP study, sales in eight of the nine broader sectors – excluding the financial sector – moved upward, with the biggest increase was recorded in manufacturing (16.2%). agriculture and fisheries (13.9%) and hotels-restaurants (12.0%).

The lower growth rate was recorded in the trade sector (8.3%), energy-water supply (7.3%), other services (7.2%), transport-communications (5.1%) and mining – quarries (3.8%). In contrast, only the construction sector recorded a small decline in turnover (-2.6%).

Regarding the overall results of the corporate sector (irrespective of the branch of activity), the following is observed: In addition to the increase in total sales (by 9.8%), total gross profits also increased, but at a lower rate (6.5%), indicative of the increase in sales costs. Administrative and distribution costs increased by 5.4%, while financial expenses were down 3.0%. These changes contributed to a significant improvement in total operating results (by 16.9%) and ultimately to a significant increase in profitability (13.7%). It is noted that the majority of the sample’s companies (64.6%) were profitable in 2017.

Changes

These changes contributed to a significant improvement in total operating results (by 16.9%) and ultimately to a significant increase in profitability (13.7%). It is noted that the majority of the sample companies (64.6%) were profitable in 2017, and their profits outweighed and also determined the overall result.

This year’s 10th consecutive annual publication gives a brief overview of the 40 selected sectors, based on their respective 2018-2017 studies.

After a long recession, the Greek economy moved at a low but positive rate of change over the past two years, as the country’s GDP recorded an increase of 1.5% in 2017 compared to 2016 (in terms of volume), while according to the first estimates in 2018 rose further, by 1.9%./ibna