The public limited company under the name "ELVE S.A." announced the financial results for the fiscal year 2025 based on International Financial Reporting Standards (IFRS).
- The company's sales in fiscal year 2025 amounted to €15.66 million, compared to €14.20 million in the previous fiscal year, representing an increase of €1.46 million, i.e. 10.34%, which is mainly due to the increase in revenues from workwear/uniforms. Domestic sales showed a significant increase of €1.83 million (17%), while export sales showed a slight decrease of €360 thousand (7.24%).
- The company's gross profit amounted to €5.08 million compared to €4.40 million in the previous fiscal year, and the gross profit margin showed a marginal increase compared to the previous fiscal year (32.45% and 30.97% respectively). The improvement in gross profit is attributable to better management of production costs by the Company, as well as the stabilization of inflation compared to previous fiscal years.
- Total administrative & distribution expenses showed a slight decrease of €46 thousand.
- Other expenses showed a significant decrease, as the relevant line item in the previous fiscal year was burdened with extraordinary equipment impairments of €1.34 million, related to replacements (completed and planned) of photovoltaic panels with the aim of increasing their output and the resulting increase in revenues.
- Additionally, in the previous fiscal year, a loss from the sale of a participation in an associate company of €397 thousand was recognized, which does not exist in the current fiscal year.
- Financial income (securities income, sales gains, valuations of financial instruments, etc.) showed an overall decrease of €250 thousand, primarily from the corresponding valuations of securities (mutual funds, bonds).
- Pre-tax profits increased to €3.94 million, compared to profits of €1.68 million in the previous fiscal year, mainly as a result of the extraordinary equipment impairments of €1.34 million and the extraordinary loss from the sale of the associate company that burdened the previous fiscal year.