- Significant penetration in India, Egypt and Tunisia
- New quarry in Drama with the popular in international markets white dolomite marble
- Quadrupling of Iktinos investments compared to the corresponding period of 2021
Iktinos Hellas closely monitors the developments of the global market and estimates that it will limit the impact of revaluations, through the reduction of production costs, due to the better performance of the production process both qualitatively and quantitatively, a consequence of its investment program of the last three years. Indicative of the company’s dynamism, despite the temporary problems in the Chinese market, is the significant increase in investments recorded in the financial results. During the first 9 months of 2022, investments quadrupled and reached 3 million euros from 0.7 million euros in the corresponding period of 2021.
At the same time, from the second half of 2022 it gradually increased the prices of the company’s products by approximately 12%, in order to cover its increased operating costs, a fact that will be reflected in the results of the last quarter of 2022.
An optimistic message is coming from the Chinese market with the lifting of restrictive measures by the Chinese government due to the growing and ongoing backlash against the country’s strict restrictions due to the pandemic. A new opening of the Chinese market is evident as company receives increasing orders which exceed 3 million euros and will be executed by the end of the year. At the same time, customers are preparing to travel to Greece, submitting visa applications.
Indicative of the normalization of the situation is the fact that the international marble exhibition held in Xiamen will take place this year as normal in early June, after three years of cancellations due to covid. The official organizer of the exhibition has already sent relevant information to the major Greek marble exporters. This particular exhibition brings together all interested marble buyers from the vast market of China.
Meanwhile, while the Chinese market was experiencing the known problems, Iktinos managed to make up for much of the lost sales with sales mainly in India, Egypt and Tunisia, where exports tripled compared to the corresponding period in 2021. Movements have also been made in other markets, such as the United Arab Emirates, while the first results from the recent presence of Iktinos at the exhibition in Dubai can be seen. The UAE is the second largest market for processed Greek marbles with a share of 15%. The presence of Iktinos in this exhibition has been stable for more than 10-15 years. The result of these efforts is that the participation of third countries, excluding China, in Iktinos exports rose from 40% to 70%.
In Greece, Iktinos obtained a license and started mining operations at a new quarry site in the area of Drama with new white dolomite marble that has great appeal in international markets Thus, our turnover is predicted to be improved compared to the first half of 2022.
