Half Year 2024 Gr Sarantis SA Earnings Call Transcript
Key Points
- Net sales grew by more than 30%, reaching EUR302 million.
- Reported EBITDA increased by 45%, indicating strong operational performance.
- The acquisition of Stella Pack significantly boosted numbers, contributing EUR39.2 million in net sales.
- Strong performance in key markets such as Greece, Poland, and Romania, with Greece showing an 18.5% growth.
- Strategic partnerships and innovations have led to good growth, particularly in the Beauty, Skin, and Sun Care categories.
- The situation in Ukraine remains challenging, with market conditions expected to stay tough for the rest of the year.
- Hungary showed a decline in sales, attributed to market conditions and strategic shifts.
- Private Label business, despite growth, reported a loss in EBIT, highlighting its low-margin nature.
- The second half of the year is expected to face significant competitive pressure, potentially impacting margins.
- There is some uncertainty regarding the full-year guidance due to external factors like the situation in Ukraine and competitive pressures.
Ladies and gentlemen, thank you for standing by. I am Vassilios, your Chorus Call operator. Welcome and thank you for joining the Gr Sarantis Group conference call and live webcast to present and discuss the Gr Sarantis Group first half 2024 financial results.
At this time, I would like to turn the conference over to Mr. Giannis Bouras, Group CEO; and Mr. Christos Varsos, Group Chief Financial Officer. Gentlemen, you may now proceed.
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Hello, everyone. Welcome to our half year results call today, and I'm together with Christos Varsos here to share the latest update in March. A little bit more details on the on the numbers and of course, we are -- will be able to have all the questions at the end of their presentation.
And before, we go into the numbers as a reminder, we'd like to -- I'd like to mention that in terms of our scope of work our competitive advantages and general strategy, things remain unchanged. And so the scope of Sarantis
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