Most Profitable Greek Companies - The Best from Greece

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Posted on: 29/Sep/2009

Most profitable Greek companies

(ANA-MPA) -- Hellenic Telecoms (OTE), National Bank and Cosmote were the most profitable groups in Greece in 2008, a survey on Business Leaders in Greece, published by ICAP Group, announced on Monday.

ICAP said the survey included the 500 most profitable companies and the 200 most profitable group of companies in Greece based on their EBITDA and balances sheets for the year 2008.

The 200 most profitable groups recorded a 20-pct increase in annual turnover, while EBITDA fell 9.0 pct in the year, while the 500 most profitable companies reported a 13-pct decline in pre-tax, interest and amortization earnings.

The top 20 groups accounted for 71 pct of total EBITDA in 2008 and 60 pct of total turnover. Hellenic Telecoms (OTE) was the top group in 2008, followed by National Bank and Cosmote SA.

ICAP said the 500 most profitable companies recorded a 19-pct increase in turnover hit by higher than expected costs, while the 500 companies accounted for 79 pct of total EBITDA. The 500 companies of this year’s list, reported 4.3 billion euros less profits compared with 2007.

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