Amortization

The 500 most profitable Greek enterprises showed remarkable resilience amid the climate of political uncertainty and serious lack of liquidity in 2015.

According to an ICAP Group analysis based on last year's financial reports, the aforementioned businesses considerably improved their earnings despite the small decline in their sales volume.

A new development law will be tabled to Parliament by the end of January told Economy Minister Giorgos Stathakis to radio station ‘Kokkino’.

It will include 3-4 basic principles and it will be simplified compared with a prevailing bureaucracy putting an end to mistakes made in the past such as no safeguarding of funds and piling up state debts to private investors.

Kathimerini Publishing SA swung from losses to profits last year, the company announced on Monday, saying that it posted a net profit of 5.9 million euros in 2014 against a net loss of 15.5 million euros in 2013.

Athens Water Supply & Sewage Co. SA, Greece’s largest water provider, said 9-month net income fell 45 percent to 41 million euros ($51.1 million) from a year earlier as it charged less to those with lower income.

Greece’s biggest oil refiner Hellenic Petroleum said on Monday its third-quarter core profit almost doubled year-on-year, helped by improved refining margins and production.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA), which strips out inventory losses, rose to 146 million euros from 74 million euros in the same period last year.

The Athens Water Supply and Sewerage Company’s (EYDAP) first-half net income fell to 15.6 million euros from 33.9 million in the same period of 2013, according to its financial statement published on Friday.

By Stathis Kousounis

Foreign funds are increasingly eager to enter the Greek tourism business market, having already proceeded with the acquisition of hotel units and with more expected to follow.

The Athens Water Supply & Sewage Company (EYDAP) reported first-quarter profit fell 79 percent as a one-time tax gain at the largest Greek water supplier wasn’t repeated while net income also declined at the Thessaloniki Water & Sewage Co.

Greek gambling monopoly OPAP posted a bigger-than-expected drop in its 2013 net profit, hurt by a new tax the country imposed on the firm to help plug its budget shortfall.

Greece slapped a 30 percent levy on OPAP’s gross gaming revenue last year to meet the terms of its 237-billion-euro international bailout.