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Economy

Survey: A 67% of Greek Enterprises Expect Hit in Turnover This Year

November 24, 2020

ATHENS — A 67 pct of Greek enterprises expect their turnover to be hit by pandemic crisis in 2020, with a 25 pct expecting an improvement, an ICAP survey said on Monday.

The survey, conducted on a sample of 1,513 enterprises operating in Greece and covering all sectors of economic activity, showed that Greek enterprises are expecting an average 21 pct decline in the their turnover, a 21 pct drop in EBITDA and a 22 pct decline in liquidity in 2020. The tourism sector is expected to be hit more, with an expected 66 pct drop in turnover, followed by the restaurant/café sector with a 38 pct decline. From the 22 business sectors, 17 pct recorded a double-digit decline rate, with the IT and telecoms sector expected to report to lowest decline (-1.0 pct).

Very small enterprises are expecting a 24 pct decline in this year’s turnover, with medium-sized enterprises expecting a 14 pct decline and large enterprises expecting a 10 pct decline in turnover.

For 2021, enterprises expect their turnover to fall by 13 pct, EBITDA to fall by 14 pct and liquidity to decline by 15 pct.

Seven out of 10 enterprises are focusing on securing liquidity and contain spending (56 pct), while a 42 pct said they saw the crisis as an opportunity.

 

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