Corporates had tough first quarter as pandemic dragged on
Corporations kick off Q1 earnings season with improved profits
Terna Energy net profit increases by 39.3 pct in 2020
GEK Terna posts net profit of 12.5 million in 2020
PPC returns to profitability in 2020, posting net income of 35.2 mln
Lamda Development reports net loss of 51.7 mln in 2020
Investment gains drive Viohalco profit jump despite revenue dip
Revenue for the year came to 3.85 billion euros, down from 4.2 billion euros in 2019, mainly due to the drop of the metal prices, as well as the slowdown of sales due to the pandemic. EBITDA, including the effect of metal prices, increased 4.7 percent to 286 million euros.
Aside from the increase in commercial values of investment properties, which led to the reverse of previous recognized impairment losses, the company’s results were also driven by a strong performance in the copper segment, with the pandemic having only...
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