Julia Chaida: Iktinos completing a €8.2 million investment program in machinery and production modernisation

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On Tuesday, 21 June 2022, the Deputy CEO of IKTINOS HELLAS, Mrs Ioulia Chaida, presented the company’s activities to journalists from Athens and Thessaloniki. The presentation took place at the Volakas quarry, in underground mining areas.

More specifically, as Mrs Chaida pointed out, Iktinos has intensified its efforts to replace the decrease in exports to China, which has been observed due to the restrictive measures in force there. Specifically, exports to China that were over 60% of exports before the pandemic are now down to about 30%. “We have reached the point of selling to our Chinese customers through photos and videos, as we cannot travel, and all contacts with that country have become difficult,” said Mrs Chaida. She explained how the international health and economic crisis affected exports to the flagship market of the listed company.

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The company’s exports to China, until 2020, accounted for 60% of total turnover, fell to 40%-45% in 2021, while in 2022, they dropped to 30%. Mrs Chaida pointed out that a recovery in the Chinese market began last April and continued in May, while there are reasonable indications that the improvement in demand will continue in the summer months. Finally, it is worth noting that total exports account for more than 95% of turnover.

In addition, Mrs Chaida announced that the company expects new permits for quarries in Greece and permits for expansions of existing quarries.

Finally, Mrs Chaida said the company is completing a EUR 8.2 million investment program in machinery and production modernisation.