Depreciation

The residential property market of Athens ranks fourth among numerous European cities in terms of how attractive it is as a destination for investors interested in exploiting real estate, according to data prepared by investment company ProfitLevel.

OTE Telecom will cut expenses drastically to ensure it meets its targets for 2020 earnings before interest, tax, depreciation and amortization (EBITDA) and free cash flow, the CEO of Greece's biggest telecom operator said on Tuesday.
OTE Telecom, which is 46 percent owned and managed by Deutsche Telecom, Europe's biggest, has projected free cash flow of 350 million euros this year.

OPAP, Europe's fourth-biggest betting business, said it had seen almost all its revenue wiped out by the closure of its outlets due to a coronavirus lockdown in Greece and Cyprus.

The Hellenic Corporation of Assets and Participations (EESYP), better known as the state asset hyperfund, has announced increased revenues and profits for 2019.

The national currency has not depreciated in recent months and it is worse than an exaggeration to say that the (national currency) leu is on the bottom of the precipice, the governor of the National Bank of Romania (BNR), Mugur Isarescu told a Thursday's press conference, mentioning that the forint and zloty depreciated more than the leu compared to the euro.

Freezer and glass bottle and jar manufacturer Frigoglass saw its sales rise 14.2 percent in the second quarter of 2019, to 162.69 million, up from 142.44 million in the same period in 2018.
The growth allowed it to get into the black, with a net profit of 8.77 million, compared to an 836,000-euro loss in the same period last year.

Energean Oil & Gas said on Thursday its full-year adjusted core earnings more than doubled, driven by higher output at its Greece operation and lower production costs.

Energean trimmed the top end of its 2019 production forecast after facing delays at its Epsilon well in Greece, the oil and gas producer said on Thursday.

Energean expects to produce between 5,000 and 5,500 barrels of oil per day in 2019, compared to its earlier outlook range of between 5,000 and 6,000 bopd.

The country's 500 most profitable companies in 2017 generated impressive returns according to the figures stemming from their financial reports as processed by ICAP for its special annual publication "Business Leaders in Greece 2018."

The total turnover of the 500 leading firms in terms of profits rose 9.5 percent last year compared to 2016, reaching 91.02 billion euros.

Greece's asset register is expected to have launched operations by the end of the first quarter of next year, although not in all areas that it is finally expected to cover. It is destined to include all the properties that each taxpayer owns. Greeks who conceal revenues, properties and other assets of high value will face huge fines if caught out by the authorities.