The company showed growth in sales and losses during 2022 Yalko – Konstantin, who is actively engaged in production and trade types of household and hotel equipment.

In particular, the listed company, which expects to double its size in the next two years, increased its sales by 21% compared to 2021 to around 5 million euros and increased its gross profit to 1.2 million euros from 1.1 million euros.

The increase in sales was largely supported by €1.36 million in financing Yalco received from related parties.

Last year, the company posted negative operating results of -2.1 million euros against a profit of 589,000 euros in 2021 and a loss before interest, taxes and depreciation (Ebitda) of 1.7 million euros. According to the company, the results of the previous period 2021 were positively influenced by other operating income from the profit received from non-recurring activities of about 2 million euros. The company posted a net loss of 2.3 million euros (from 845,000 euros), a negative working capital of -42 million and a negative operating cash flow of -634,000 euros.

As noted in the annual financial report, significantly limited inventory availability prevents the company from capitalizing on the demand for its products for both residential and primarily professional use (hotels and restaurants), resulting in the current conditions and at these levels of activity results operating activities of the company remain significantly unprofitable.

However, according to Yalco management, a significant improvement is expected this year based on first-quarter turnover.

This estimate is based on, among other things, a 16.4% increase in sales compared to the corresponding quarter of 2022, an increase in bookings, leveraging demand for the two brands Ionia and Fest, and further strengthening the hospitality and household business. equipment.

“Undoubtedly, Yalco is entering a new era. Our actions are aimed at the quick settlement of credit obligations and the shortest and optimal provision of working capital, having positive developments so far. In addition, we are investing in production using our two super brands, Ionia and Fest, highlighting our export activities and strengthening HO.RE.CA. and home appliances,” Yalco Managing Director Sokratis Konstantinou said.