Surveys, Trends & Stats ICAP Study: Tourism Enterprises Among Greece’s Most Profitable by GTP editing team 19 December 2018 written by GTP editing team 19 December 2018 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 20 Photo Source: @Grecotel Hotels & Resorts Tourism enterprises are bringing in the cash, holding leading positions among Greece’s 500 most profitable businesses in 2017, as presented by consulting and research services group ICAP this week. According to ICAP’s study on Greece’s “500 Most Profitable Companies and 200 Most Profitable Groups for 2017”, tourism ventures Hertz AutoHellas, Olympic ΕΤΕ, Sani SA, LeasePlan Hellas and FAIAX AETA (Grecotel Group) are among Greece’s top 500 in terms of profitability accounting for 48.9 percent of the total EBITDA earnings in the sector with profits at 237.2 million euros. Among Greece’s 500 most profitable companies, 45 – or 1.6 percent of the total in terms of turnover – are tourism industry players, with EBITDA total profits at 484.5 million euros, pre-tax profits at 202.3 million euros and turnover at nearly 1.4 billion euros. The study is presented as part of ICAP’s 11th edition of “Business Leaders in Greece”, which features the most successful Greek companies in terms of profitability and overall performance. “After a long period of recession, the Greek economy moved upward in 2017, with the country’s GDP recording a low but positive rate of change, a trend that continued in the first half of 2018,” said Nikitas Konstantellos, president and CEO ICAP Group. According to Konstantellos, this improvement was reflected in both the country’s macroeconomic figures and in company performance. Based on 2017 financial figures, Greece’s 500 most profitable companies significantly improved their results, achieving an increase in profitability, while overall sales and capital gains were also positive. Overall, according to ICAP, the most profitable Greek company in 2017 (and 2016) is the Bank of Greece, followed by the Public Power Corporation (PPC SA), Hellenic Petroleum SA, OTE (Hellenic Telecommunications Organization), and Motor Oil – Corinth Refineries SA. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post Lloyd’s List Names 15 Greeks Among World’s Top 100 Shipping Giants next post ABTA Says Post-Brexit UK-EU Flights to Continue Visa-free You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ