AKRITAS Wood Processing Industry Expands Green Investment Plan to €25 Million
Efthimios Konstantopoulos, the CEO of AKRITAS, announced to “N” that the company is ramping up its investment plan for a “green” transition to €25 million over the next three years. This year, €1.5 million will be allocated to complete projects focused on the recycling of industrial wood, sourced from either its own materials or packaging pallets, alongside initiatives for energy savings.
Currently, procedures for a significant energy investment are in progress, which aims to repurpose the biomass leftover from raw material processing into electricity and thermal energy through a biomass burner. This major investment is anticipated to surpass €10 million.
In addition to the previously mentioned initiatives announced at the end of 2023, Akritas plans to undertake further green investments, capitalizing on the first cycles of the new development law. Ultimately, the company’s three-year green investment strategy is projected to reach between €23 million and €25 million.
Financial Performance
In 2024, AKRITAS reported a consolidated turnover of €38.298 million, down from €40.588 million the previous year—a decline of 5.6%, primarily attributed to reduced exports to the Middle East, particularly Lebanon, due to regional geopolitical challenges. Nevertheless, the company remains hopeful about expanding its exports to new markets or resuming business in existing markets as tensions ease.
Despite the turnover decline, enhanced productivity and effective commercial strategies, along with controlling production costs, resulted in a rise in the gross consolidated sales margin, which increased to 17.3% from 14.9% in the previous year. Consequently, EBITDA rose to €4.385 million from €4.259 million in 2023, with the corresponding EBITDA margin improving to 11.5% from 10.5%. Adjusted EBITDA also saw an increase, reaching €5.028 million compared to €4.524 million in 2023, reflecting an 11.1% growth.
After-tax profits stood at €2.956 million, significantly lower than the €15.672 million reported in 2023, a year that was influenced by the completion of a refinancing agreement and the impairment of bank borrowings.
