{"id":23688,"date":"2024-12-09T09:01:59","date_gmt":"2024-12-09T07:01:59","guid":{"rendered":"https:\/\/www.kiriacoulis.com\/corporate\/?p=23688"},"modified":"2024-12-09T13:24:29","modified_gmt":"2024-12-09T11:24:29","slug":"financial-information-of-the-group-and-the-company-for-the-third-quarter-of-2024","status":"publish","type":"post","link":"https:\/\/yknot.gr\/ir\/financial-information-of-the-group-and-the-company-for-the-third-quarter-of-2024\/","title":{"rendered":"FINANCIAL INFORMATION OF THE GROUP AND THE COMPANY FOR THE THIRD QUARTER OF 2024"},"content":{"rendered":"

FINANCIAL INFORMATION OF THE GROUP AND THE COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA FOR THE THIRD QUARTER OF 2024<\/strong><\/p>\n

 <\/p>\n

COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA announces:<\/p>\n

Selected figures of the Statement of Comprehensive Income for the third quarter of 2024, for the nine months of 2024 and their comparatives:<\/p>\n

\u00a0<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n
<\/td>\n\u00a0GROUP<\/strong><\/td>\nCOMPANY<\/strong><\/td>\n<\/tr>\n
<\/td>\n1\/1-30\/09\/2024<\/strong><\/td>\n1\/1-30\/09\/20223<\/strong><\/td>\n1\/7-30\/9\/2024<\/strong><\/td>\n1\/7-30\/9\/2023<\/strong><\/td>\n1\/1-30\/09\/2024<\/strong><\/td>\n1\/1-30\/09\/2023<\/strong><\/td>\n1\/7-30\/9\/2024<\/strong><\/td>\n1\/7-30\/9\/2023<\/strong><\/td>\n<\/tr>\n
Net sales revenue<\/td>\n32.943.946<\/td>\n34.275.945<\/td>\n5.097.694<\/td>\n5.237.499<\/td>\n2.218.662<\/td>\n3.168.615<\/td>\n1.555.438<\/td>\n1.981.982<\/td>\n<\/tr>\n
Profit \/ (loss) before interest and taxes (EBIT)<\/td>\n(654.677)<\/td>\n1.300.410<\/td>\n(649.850)<\/td>\n2.402.670<\/td>\n(964.058)<\/td>\n(525.587)<\/td>\n551.757<\/td>\n876.783<\/td>\n<\/tr>\n
Profit before interest, taxes, depreciation and amortization (EBITDA)<\/td>\n454.762<\/td>\n2.307.866<\/td>\n(292.346)<\/td>\n2.110.721<\/td>\n(92.633)<\/td>\n396.483<\/td>\n1.962.984<\/td>\n1.494.217<\/td>\n<\/tr>\n
Profit \/ (loss) after taxes<\/td>\n(1.151.053)<\/td>\n488.383<\/td>\n(783.120)<\/td>\n484.572<\/td>\n(1.148.620)<\/td>\n(774.772)<\/td>\n551.274<\/td>\n1.007.365<\/td>\n<\/tr>\n
Profit \/ (loss) after taxes attributable to the Company\u2019s shareholders<\/td>\n(1.133.195)<\/td>\n484.165<\/td>\n(658.102)<\/td>\n483.482<\/td>\n(1.148.620)<\/td>\n(774.772)<\/td>\n551.274<\/td>\n807.234<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

From the above table arise the following:<\/p>\n

 <\/p>\n

The\u00a0Net Sales Revenue<\/strong>\u00a0of the third quarter of 2024 for the\u00a0Parent Company<\/strong>\u00a0showed a decrease of 426.543 \u20ac or 21,52% in relation to the comparable period, while cumulatively the Net Sales Revenue for the period 1\/1-30\/9\/2024 showed a decrease of 949.952\u20ac or 29,98% in relation to the comparable period.<\/p>\n

 <\/p>\n

The\u00a0Net Sales Revenue<\/strong>\u00a0of the third quarter of 2024 for the\u00a0Group<\/strong>\u00a0showed a decrease of 139.805 \u20ac or 2,67% in relation to the comparable period, while cumulatively the Net Sales Revenue for the period 1\/1-30\/9\/2024 showed a decrease of 1.331.999 \u20ac or 3,89% in relation to the comparable period.<\/p>\n

 <\/p>\n

In the third quarter of 2024, the\u00a0Parent Company<\/strong>\u00a0produced Profit after taxes, decreased by 456.090 \u20ac or 45,28%\u00a0in relation to the comparable period of 2023, while cumulatively in the period 1\/1-30\/9\/2024 it produced losses after taxes increased by 373.848 \u20ac or 48,25% in relation to the comparable period.<\/p>\n

 <\/p>\n

In the third quarter of 2024, the\u00a0Group<\/strong>\u00a0produced Losses after taxes amounting to 783.120 \u20ac % compared to Profit of 484.572 \u20ac in the comparable period of 2023. The same trend is observed cumulatively in the period 1\/1-30\/9\/2024 with Losses after taxes amounting to 1.151.053 \u20ac compared to Profit of 488.383 \u20ac in the comparable period of 2023.<\/p>\n

 <\/p>\n

In the third quarter of 2024, the\u00a0Group<\/strong>\u00a0produced Losses after taxes, corresponding to the shareholders of the Parent Company amounting to 658.102 \u20ac compared to Profit of 483.482 \u20ac in the corresponding period of 2023.Similarly, cumulatively in the period 1\/1-30\/9\/2024, produced Losses after taxes, corresponding to the owners of the Parent Company amounting to 1.133.195 \u20ac compared to Profit of 484.165 \u20ac in the corresponding period of 2023.<\/p>\n

 <\/p>\n

It is noted that, the Parent Company and the Group during the first 9 months of 2024 and 2023 had neither revenues and expenses from discontinued operating activities nor total comprehensive income.<\/p>\n

 <\/p>\n

Selected figures of the Financial Position at 30\/9\/2024 and their comparatives are as follows:<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n
<\/td>\nGROUP<\/strong><\/td>\nCOMPANY<\/strong><\/td>\n<\/tr>\n
<\/td>\n30\/9\/2024<\/strong><\/td>\n31\/12\/2023<\/strong><\/td>\n30\/9\/2024<\/strong><\/td>\n31\/12\/2023<\/strong><\/td>\n<\/tr>\n
Equity attributable to the owners of the Company<\/td>\n6.779.051<\/td>\n7.912.245<\/td>\n11.750.209<\/td>\n12.898.829<\/td>\n<\/tr>\n
Total equity<\/td>\n6.772.882<\/td>\n7.923.934<\/td>\n11.750.209<\/td>\n12.898.829<\/td>\n<\/tr>\n
Non-current borrowings<\/td>\n3.240.305<\/td>\n3.279.139<\/td>\n3.133.482<\/td>\n3.018.503<\/td>\n<\/tr>\n
Current borrowings<\/td>\n2.239.015<\/td>\n2.180.494<\/td>\n1.896.275<\/td>\n1.824.299<\/td>\n<\/tr>\n
Total borrowings<\/td>\n5.479.320<\/td>\n5.459.633<\/td>\n5.029.757<\/td>\n4.842.802<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

From the above table arise the following:<\/p>\n

 <\/p>\n

The Equity of the Parent Company decreased by 1.148.620 \u20ac or 8,90% compared to that of 31\/12\/2023.<\/p>\n

 <\/p>\n

The Equity attributable to the owners of the Parent Company decreased by 1.151.052 \u20ac or 14,53% compared to that of 31\/12\/2023.<\/p>\n

 <\/p>\n

On 30\/9\/2024 the loans of the\u00a0Parent Company<\/strong>\u00a0constitute of 14,24% of the total equity and liabilities. In terms of maturity, consist of 37,70% of loans with a repayment period of less than or equal to one year, 49,02% of loans with a repayment period of between one and five years and at a rate of 13,26% of loans with a repayment period of more than five years.<\/p>\n

During the third quarter of 2024, the\u00a0Parent Company<\/strong>\u00a0received funds from borrowings amounting to 1.284.947\u20ac while it repaid loans by paying 476.790 \u20ac. During the first 9 months of 2024, the Parent Company received funds from borrowings 1.284.947 \u20ac, while it repaid loans by paying 1.065.394 \u20ac.<\/p>\n

 <\/p>\n

On 30\/9\/2024 the loans of the\u00a0Group<\/strong>\u00a0constitute of 13,91% of the total equity and liabilities. In terms of maturity, consist of 40,86% of loans with a repayment period of less than or equal to one year, 52,43% of loans with a repayment period of between one and five years and at a rate of 6,70% of loans with a repayment period of more than five years.<\/p>\n

During the third quarter of 2024, the\u00a0Group<\/strong>\u00a0received funds from borrowings amounting to 1.284.947\u20ac while it repaid loans by paying 477.016 \u20ac. During the first 9 months of 2024, the Group received funds from borrowings 1.316.947 \u20ac, while it repaid loans by paying 1.256.475 \u20ac.<\/p>\n

 <\/p>\n

Consequences of the Energy Crisis.<\/strong><\/p>\n

The negative impact of the increase in energy supply costs on the Group\u2019s results is considered manageable. The energy consumption of the consolidating companies relates mainly to the electrification of office buildings, car park and port facilities, while a minor part of it relates to the electrification of yachts during their docking period. The following table shows the electricity consumption costs for the period 1\/1\/2024-30\/9\/2024 as a percentage of net sales revenue for that period for those companies that have the largest contribution to consolidated net sales revenue:<\/p>\n\n\n\n\n\n\n\n\n
<\/td>\n<\/tr>\n
\n

1\/1\/2024-30\/9\/2024<\/strong><\/p>\n<\/td>\n

KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA.<\/strong><\/td>\nMARINA KALAMATAS TOURISM SOLE SHAREHOLDER S.A<\/strong><\/td>\nKIRIACOULIS MARINAS S.A.<\/strong><\/td>\nSARL KIRIACOULIS FRANCE (Group) *<\/strong><\/td>\n<\/tr>\n
Net sales revenue<\/td>\n2.218.662<\/td>\n435.938<\/td>\n121.274<\/td>\n29.276.257<\/td>\n<\/tr>\n
Electrical energy<\/td>\n34.031<\/td>\n41.296<\/td>\n3.292<\/td>\n2.270<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
%\u00a0 of net sales revenue<\/strong><\/td>\n1,53<\/strong><\/td>\n9,47<\/strong><\/td>\n2,71<\/strong><\/td>\n0,01<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

* Includes Companies SARL KIRIACOULIS FRANCE,\u00a0 SARL VENT PORTANT, SARL KIRIACOULIS POINT D\u2019AMURE and SCI DU DONATOR.<\/p>\n

 <\/p>\n

The figures in the above table show that the increase in the cost of electricity supply exerted a strong pressure on the results of the subsidiaries MARINA KALAMATAS TOURISM SOLE SHAREHOLDER S.A. and KIRIACOULIS MARINAS S.A..<\/p>\n

 <\/p>\n

Recognizing that the protection of the natural environment requires \u2013 among other things \u2013 the rationalization of resource consumption, the implemented energy saving policy of the Parent company aims at the efficient use of artificial lighting, air conditioning systems and other office equipment. In the same direction the subsidiaries have taken similar measures to the Parent.<\/p>\n

 <\/p>\n

Consequences of the war in Ukraine.<\/strong><\/p>\n

The hostilities that started on 24 February 2022 in Ukraine and continue to this day, the consequent imposition of sanctions by the Member States of the European Union on Russia and the latter\u2019s reaction by issuing travel advisories warning of risks and undesirable behavior to which Russian citizens may be exposed during their stay in European Union countries, have prevented a large part of the Russian population from taking holidays in the geographical areas in which the Group operates service points. In addition, leisure travel is not a priority for citizens of countries at war (as is currently the case in Ukraine). Chartering of yachts without permanent crew was hardly affected, because the share of charterers from both Russia and Ukraine appears to be small over time. More specifically:<\/p>\n

In the year 2019, before the pandemic of COVID \u2013 19, the share of charter days booked by brokerage agencies established in Russia in the total number of charter days performed by yachts managed by the Group was 1,66%. This share for the year 2021, before the start of the military conflicts in Ukraine, was 1,06%, while for the year 2022 it was calculated equal to 0,30% and for year 2023 it was calculated to 0,45%, while for the year 2024 it was calculated equal to 0,21%.<\/p>\n

In 2019, the share of charter days booked by brokerage agencies established in Ukraine in the total number of charter days performed by yachts operated by the Group was 0,25%. This share for the year 2021 was 0,77%, for the year 2022 it was calculated equal to 0,11% and for the year 2023 it was calculated to 0,20%, while for the year 2024 it was calculated equal to 2,59%.<\/p>\n

 <\/p>\n

Consequences of the war in the Eastern Mediterranean.<\/strong><\/p>\n

The events that began on October 7, 2023 had no impact on the 9-month 2023 financial results of the Parent Company and the Group, given that they took place at the end of the tourist season.<\/p>\n

In 2023 the share of charter days booked by brokerage agencies established in Israel accounted for 1,60% of the total number of charter days performed by yachts managed by the Group. This share decreased to 0,84% for the year 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

FINANCIAL INFORMATION OF THE GROUP AND THE COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA FOR THE THIRD QUARTER OF 2024   COMPANY KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING SA announces: Selected figures of<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,890],"tags":[],"class_list":["post-23688","post","type-post","status-publish","format-standard","hentry","category-corporate-news","category-year-2024"],"_links":{"self":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/23688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/comments?post=23688"}],"version-history":[{"count":0,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/23688\/revisions"}],"wp:attachment":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/media?parent=23688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/categories?post=23688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/tags?post=23688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}