The Greek Companies That Resist Crisis


Despite the dire economic conditions prevailing in the country, some Greek companies were able to withstand the crisis and maintain or even increase their profit.

ICAP Group presented the 500 most profitable companies in Greece, based on their published accounts for 2013. The criterion for their selection was their profit based on EBITDA (earnings before interest, taxes, depreciation and amortization).

According to the ICAP report that was published in the Greek newspaper “The Nea,” the ranking of the top 500 most profitable companies in 2013 remained largely stable. Sixteen companies that were in the top 20 spots, maintained their position in both 2012 and 2013.

Alpha Bank was pronounced the top company for 2013, followed by Piraeus Bank. The new entries in the 2013 top 20 were Aegean Airlines and Duty Free Shops.

Motor Oil Corinth Refineries topped the sector of industry leaders, followed by Karelia Tobacco, Metka and Greek Defense Systems.

In the trade sector, Jumbo was the “champion” for the fifth consecutive year, leading the list of top five companies with profits of over 40 million, followed by Duty Free Shops, AB Vassilopoulos, Sklavenitis and Masoutis.

In the tourism industry, the top five consists of two car rental companies, Autohellas and Olympic SA, as well as by two hotels led by FAIAX.