{"id":16437,"date":"2024-03-20T22:41:27","date_gmt":"2024-03-20T22:41:27","guid":{"rendered":"https:\/\/andromeda.eu\/?post_type=press-center&p=16437"},"modified":"2025-04-02T12:19:26","modified_gmt":"2025-04-02T12:19:26","slug":"press-release-fiscal-2023-results-bod-will-propose-to-agm-dividend-amounting-to-0-30-euros-per-share","status":"publish","type":"press-center","link":"https:\/\/andromeda.eu\/en\/press-center\/press-release-fiscal-2023-results-bod-will-propose-to-agm-dividend-amounting-to-0-30-euros-per-share\/","title":{"rendered":"PRESS RELEASE: Fiscal 2023 Results \u2013 BoD will propose to AGM dividend amounting to 0.30 euros per share"},"content":{"rendered":"

ALPHA TRUST-ANDROMEDA <\/a>Investment Trust S.A. released annual 2023 results today.<\/p>\n

The Company\u2019s key figures for FY 2023 were:<\/p>\n

The Company\u2019s gross income amounted<\/strong> to profits<\/strong> of <\/strong>\u20ac 8.92 million<\/strong>, vs. losses of \u20ac 0.35 million for the same period last year. Gross income mostly reflects profits from valuation of securities at fair value based on IFRS amounting to \u20ac 4.6 million, profits from the purchase and sale of securities amounting to \u20ac 3.39 million and gains from portfolio revenues amounting to approximately \u20ac 0.93 million euro.<\/p>\n

Profits before tax <\/strong>amounted to \u20ac<\/strong> 6<\/strong>.54 million <\/strong>compared to losses of \u20ac 1.11 million for the same period last year.<\/p>\n

Profits after tax <\/strong>amounted to \u20ac<\/strong> 6.40 million<\/strong> vs. losses of \u20ac 1.13 million for the same period last year.<\/p>\n

The Company\u2019s Net Asset Value (N.A.V.) increased by 26.41%<\/strong> in FY 2023, amounting to \u20ac<\/strong> 29.95 million<\/strong> or \u20ac<\/strong> 8.37<\/strong> per share <\/strong>as at 31.12.2023.<\/p>\n

At the end of FY 2023, the Company\u2019s portfolio was wholly invested in Greece, by 96.61% in ATHEX listed shares and 3.39% in fixed income securities and cash.<\/p>\n

On March 15th, 2024, the stock price closed on the Athens Stock Exchange at \u20ac 7.04 which corresponds to a discount of 20.43 %.<\/p>\n

In addition, the Board of Directors decided to propose to the Annual General Meeting the distribution of dividend from 2023 profits of total amount \u20ac 1,073,064.90, i.e. 0.30 euros per share, under the five-year dividend reinvestment program (2023 – 2028). The exact amount will be determined according to the number of the Company\u2019s treasury stock at the record date.<\/p>\n

The Company\u2019s key financial figures and key indicators are included in the following tables:<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Profit and loss account (amounts in th.)<\/strong><\/td>\n1\/1-31\/12\/2023<\/strong><\/td>\n1\/1-31\/12\/2022<\/strong><\/td>\n<\/tr>\n
Gross income from portfolio management<\/td>\n\u20ac 8,924<\/td>\n\u20ac -350<\/td>\n<\/tr>\n
Gross profit\/loss<\/td>\n\u20ac 6,923<\/td>\n\u20ac -754<\/td>\n<\/tr>\n
Earnings\/Loss before tax (EBT)<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u20ac 6,543<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u20ac -1,105<\/td>\n<\/tr>\n
Earnings\/Loss after tax (Net profit after tax)<\/td>\n\u00a0\u20ac 6,403<\/td>\n\u00a0\u20ac -1,135<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Key Indicators<\/strong><\/td>\n31\/12\/2023<\/strong><\/td>\n31\/12\/2022<\/strong><\/td>\n<\/tr>\n
Net Asset Value (N.A.V.)<\/td>\n\u20ac 29,951 th.<\/td>\n\u20ac 24,675 th.<\/td>\n<\/tr>\n
Net Asset Value (N.A.V. per share)<\/td>\n\u20ac 8.37<\/td>\n\u20ac 6.98<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The CEO of the Company, Mr. Vassilis Kletsas, commented: \u201cFiscal 2023 was an important year for Alpha Trust Andromeda as the company returned to profitability as a result of the upward trend of the Athens Stock Exchange as well as the very satisfactory financial performance of the portfolio companies. It also reflects the company\u2019s investment policy of selecting companies that have the potential to create value to our portfolio\u201d.<\/p>\n

\u201cThe positive bottom line allows us to continue our dividend policy and distribute a dividend of 0.30 Euros per share\u201d, Mr. Kletsas added.<\/p>\n

\u201cIt is our intention to distribute dividend twice a year. We intend to implement the same if conditions permit. Please note that in the last six years, Andromeda\u2019s dividend yield exceeded that of the Athens Stock Exchange\u2019s aggregate yield every year in a row and we aim to achieve the same this year, too\u201d, Mr. Kletsas concluded.<\/p>\n

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