The turnover of the Pavlidis Group exceeded 100 million euros and profits of 50 million in 2020

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The year 2020, though associated with the unprecedented conditions experienced by the whole of humanity with the repercussions of the Covid-19 virus outbreak affecting the world economy to this very day, was for PAVLIDIS MARRBLES GRANITES particularly significant and creative, who in addition to reaching the 40th consecutive year of successful presence in the field of natural stones, placing it among the leading marble producing companies globally, has not deviated from its strategic planning.

Despite the overall decline in the field, adverse conditions and restrictions in mobility, given that Group exports edge on 90% of its turnover, the Group exhibited those sharp reflexes necessary to overcome underlying difficulties and obstacles instantaneously adjusting its trade policies utilising technology and innovative services. Instant reflexes in tandem with the powerful PAVLIDIS brand name, combined with dependability, assurance of top quality materials through extensive quality control, certification of production processes, constant expansion of product lines and promptly efficient shipment times, has achieved perpetuation of its high standard results. In particular for 2020, the Group’s turnover exceeded €100m while its EBITDA will exceed €50m, a particularly satisfactory result in view of current conditions.

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The Group set out on its investment strategy with resolve for 2020, concluding the 100% buy-out of DIONYSSOMARBLE BULGARIA shares resulting in 11 active quarries under its control, five of which are examples of high productivity standards. In fact, through this current take-over the board’s strategic objective was achieved, via which Pavlidis now holds the largest quarry exploitation interests among neighbouring countries. More specifically, the Group now maintains the top quarries in Greece: Ariston, Venus, Galaxy, and Kavala, Sivec in Northern Macedonia, Perla in Albania and Vratza Bulgaria. The new Vratza material is classified as an aesthetically high quality beige marble, suitable for exterior applications, adorning many buildings of high standards.

In the second half of 2020 construction of the wind turbine facility was completed in the district of Sidirokastro, a total investment of €42m, part of an overall development project for renewable energy sources of an overall budget of €60m. More specifically, the facility is equivalent to 42 MW total capacity and the energy produced is expected to power 40.000 homes. Translated into numbers, the positive environmental impact of this investment is the annual reduction of CO2 by 125.000 tons and SO2 by 2.800 tons, with all obvious benefits to our national economy. At completion of this investment RES projects in wind and solar power facilities constructed equate to a total capacity of 65MW.

Yet indications in the first half of 2021, herald equally optimistic outlooks both for the economy and gradual market restoration and stability. In fact, there is an outlook of normalisation for the Asian market, it being the main recipient of our market’s products, while at the same time new development potentials are created in other markets, provided however there will be no ill-effects from new health and geopolitical developments.