Domiki Kritis, a player in the construction sector, reported a 24.7% decline in revenue for the fiscal year 2024, reaching EUR 15.6 million, down from EUR 20.8 million in 2023.
The decrease is primarily attributed to the company’s dependence on the construction industry, which was negatively impacted by the low pace of project financing. This slowdown in funding resulted in delays in both invoicing and collections.
Correspondingly, the company’s EBITDA dropped from EUR 2.5 million in 2023 to EUR 1.3 million in 2024, reflecting the overall decrease in revenue. Pre-tax profits also saw a significant decline, falling to EUR 0.387 million in 2024 from EUR 2.69 million in 2023.
On the balance sheet, the company recorded a reduction in receivables by EUR 1.8 million, in line with the drop in revenue and invoicing. Cash reserves also decreased by EUR 1 million, mainly due to the repayment of commercial obligations, which were reduced to EUR 5.6 million in 2024, down from EUR 7.2 million in 2023.
