11 Cretan companies in the 500 most profitable businesses in Greece

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 Ta Nea news daily, 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, toys’ giant 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 supermarkets, 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.

Eleven companies and businesses in Crete reached the top-500:

  • Forthnet
  • Plastika Kritis
  • Karatzis
  • Creta Farm
  • Kilindromiloi Kritis
  • Diethnis Enossis Insurance Company
  • INKA Super Markets
  • Olympion Clinic
  • “To Manna” Tsatsaronakis
  • Elounda S.A.
  • ANEK Lines

The business publication Business Leaders in Greece includes the 500 more profitable enterprises in Greece and presents analytically the best Success Stories of Greek Market.

This publication, which ICAP aspires to establish it as an annual institution for outstanding enterprises, is absolutely aligned with the values of ICAP, that are guiding us to promote and share knowledge, to embrace and give an impulse to new ideas as well as always be close to our customers.

Classification

The classification of 500 companies is based on their profits, according to the published balance-sheets of 2007. Even if many of these companies will be the largest in Greece also according to their turnover, our objective is to identify those companies that yield the biggest profits.

Click here to view the Business Leaders in Greece on line!

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