Business
Pipe Works L Girakian Profil S A : Announcement of FY 2024 Financial Highlights
Pipe Works L Girakian Profil S A : Announcement of FY 2024 Financial
About this update from Pipeworks L. Girakian Profil Sa
[{"type":"text","content":"COMPANY ANNOUNCEMENT\n Announcement of FY 2024 Financial Highlights\n PIPEWORKS LIMBAR TZIRAKIAN PROFIL S.A. (hereinafter referred to as ΅the CompanyΆ), informs the investing public about the key financial results for FY 2024.\n \n \n The gradual slowdown in the global economy, due to inflationary pressures and high financial costs, had a significant impact on international demand for steel products. Significant problems in the construction industry in China, the European Union and other major economies had a negative impact on the consumption of steel products, resulting in a further decline in international prices. The downward trend in input prices, which lasted throughout the year, also had a significant impact on sales prices in the domestic market. During the same period, production costs continued to rise as inflationary pressures continued to affect all production factors. An additional burden during the year was the early exhaustion of quarterly quotas for imports of raw materials from third countries, due both to the fall in prices and to changes in European Union policy. This led to instability in the smooth supply of production, high stock levels, delays in the execution of orders and, ultimately, a decline in sales volumes. As a result of these unfavourable conditions, sales, gross profit and operating profitability decreased, while increased financial costs and the creation of extraordinary provisions for doubtful accounts, inventories and other risks contributed to the final negative result.\n \n \n The key financial figures for the financial year 2024 are as follows:\n Am ounts in EURO\n 31/12/2024\n 31/12/2023\n Turnover\n \n \n 25.699.005\n \n \n 30.312.612\n \n \n Gross Profit / (Loss)\n \n \n 933.738\n \n \n 3.389.825\n \n \n Earnings Before Interest, Tax, Depreciation, Amortization (EBITDA)\n \n \n (1.883.885)\n \n \n 1.273.704\n \n \n Profit / (Loss) before tax, financing and investing results (EBIT)\n \n \n (2.389.257)\n \n \n 830.201\n \n \n Profit / (Loss) before tax\n \n \n (3.969.985)\n \n \n (939.337)\n \n \n Profit / (Loss) after tax\n \n \n (3.749.874)\n \n \n (861.171)\n \n \n The Company's total debt, equity and total capital employed at 31 December 20024 are as follows:\n Am ounts in EURO\n 31/12/2024\n 31/12/2023\n Total debt\n \n \n 15.994.076\n \n \n 17.373.156\n \n \n Net debt\n \n \n 15.819....