Elin announced its financial results for the first quarter of 2024 in summary, together with the highlights and business outlook.

Elin Group's operating turnover, after intercompany eliminations, amounted to €702 million in the first quarter of 2024 compared to 604.6 million euros in the corresponding period of 2023, an increase of 16.09% as a result of increased sales in the International Trade segment, according to the accounting statements.

The group's gross profit for the first quarter of 2024 amounted to € 18,394 thousand compared to € 15,568 thousand in the corresponding period of 2023, showing an increase of 18.15%. This increase is the result of increased sales in international trade, which covered the decrease in profitability in the domestic market.

The group's operating profit before interest, taxes, depreciation, and amortization (EBITDA) amounted to €8,846 thousand compared to €6,972 thousand in the corresponding period of 2023, showing an increase of 26.88% as a result of the increase in gross profit as mentioned above.

The significant increase in international trade sales compared to the previous year's period as well as the needs of the new investment in Spain led to an increase in financial expenses to €4.6 million from €1.8 million in the corresponding period of 2023.

The consolidated result before tax 01/01-31/03/2024 amounted to a profit of € 2,507 thousand, compared to a profit of € 3,489 thousand in the corresponding period of 2023.