In July, it decreased even more at €69.49, from €121.32 a year ago.
Earnings per available room fell 62% this year, to €30.99, from €81.56 in January-July 2019. In July 2020, earnings were down 76.7%, from €108.69 in 2019 to €25.36 this year.
Data was provided by the Athens, Attica and Saronic Gulf Hoteliers’ Association and GBR Consulting.
Delivery Hero has acquired all InstaShop shares based on a valuation of USD 360 million. It is the biggest sum ever paid for a Greek startup.
InstaShop was launched in June 2015. The company generates approximately USD 300 million GMV on a Q2 2020 annualized basis, up c. 330% year-on-year, and a positive EBITDA margin.
It’s business model is marketplace-based: it connects customers with vendors and facilitates the purchase, while the shops take care of the logistics. The company offers scheduled as well as on-demand deliveries in 45 minutes on average.
Partnering with approximately 1,500 vendors, the company operates in five countries: the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon.
John Tsioris, CEO and Co-Founder of InstaShop, said: ”I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop.”
The monthly net flow was positive by €3,139 million, compared with a positive net flow of €270 million in June 2020.
InJuly 2020, deposits placed by the private sector increased by €3,322 million, compared with an increase of €448 million in the previous month; the annual growth rate increased to 9.5% from 8.4% in the previous month.
Corporate deposits increased by €2,653 million, compared with an increase of €398 million in the previous month; the annual growth rate increased to 24.8% from 19.3% in the previous month.
Deposits placed by households and private non-profit institutions increased by €669 million, compared with an increase of €50 million in the previous month; the annual growth rate stood at 6.0%, unchanged from the previous month.
The fall in travel receipts resulted from a 93.8% decline in inbound traveller flows and a 58.7% decrease in average expenditure per trip.
Net receipts from travel services offset 2.1% of the goods deficit and accounted for 9.2% of total net receipts from services.
In January-June 2020, the number of inbound visitors fell by 76.9% to 2,178 thousand (January-June 2019: 9,407 thousand).
Specifically, visitor flows through airports declined by 84.6% and visitor flows through road border-crossing points fell by 55.4%.
In the period under review, visitors from within the EU27 dropped by 78.6% year-on-year to 1,131 thousand, while visitors from outside the EU27 decreased by 74.7% to 1,046 thousand.
The number of visitors from within the euro area fell by 85.5%, while visitors from non-euro area EU27 countries dropped by 64.4%.
Specifically, the number of visitors from Germany fell by 89.1% to 148 thousand, while visitors from France decreased by 93.4% to 35 thousand.
Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 89.4% to 117 thousand, while visitors from the United States dropped by 79.6% to 86 thousand and visitors from Russia decreased by 85.8% to 22 thousand.
Gastrade is developing the LNG floating storage and regasification unit (FSRU) offshore Alexandroupolis, which will be a new, independent energy gateway for the markets of Southeastern and Central Europe.
The Station will be located 17.6 km southwest of the port of Alexandroupolis and will have an LNG storage capacity of 170,000 cubic meters and a natural gas supply capacity that will exceed 5.5 billion cubic meters per year.
The floating unit will be connected to the National Natural Gas System of Greece via a 28 km long pipeline, through which the regasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.
The project supports and completes the Greece-Bulgaria interconnector (IGB) involving Bulgarian Energy Holding, the parent company of Bulgartransgaz, and DEPA, through which natural gas will be channeled from the LNG Terminal in Alexandroupolis to Bulgaria and from there to the other markets of Southeast Europe.
The participation in the project of Bulgartransgaz, the public company that manages and develops the natural gas network and infrastructure in the neighboring country, falls within Bulgaria’s updated energy strategy and its decision to gain direct access to LNG through the Alexandroupolis terminal.
At the same time, it is a proof of the strategic role of the project in Southeast Europe and will have a key role in the penetration of LNG in the region, as well as in enhancing energy liquidity in the its markets.
This is a European Project of Common Interest (PCI – EU Regulation 347/2013), a priority project of the European Union, which strengthens security of supply, diversifies sources and routes of energy supply, enhances competition and supports the establishment of a Natural Gas trading hub in the wider region of Southeastern Europe, bearing obvious benefits for all final consumers.
The agreement was signed today in Athens by the Founding Shareholder & Chairman of the Board of Directors of Gastrade, Mrs. Elmina Kopelouzou and the CEO of Bulgartransgaz, Mr. Vladimir Malinov in the presence of the Prime Ministers of the Hellenic Republic and the Republic of Bulgaria, Mr. Kyriakos Mitsotakis and Mr. Boyko Borissov.
The LNG Terminal in Alexandroupolis is expected to be operational in early 2023.
The agreement is subject to the approval of the competent authorities.
Launching on 27 August in the heart of Mykonos Town, it will be the first time artists of this calibre have ever been exhibited together on the island, with the likes of Kaws, Banksy, Damien Hirst, George Condo and Jeff Koons headlining the exclusive show.
”XXI” will also be available to all virtually via HOFA Gallery’s website.
Hosted at HOFA’s new gallery space located a stone’s throw from the famous port of Mykonos and prestigious destinations such as Nobu, the Belvedere, and the new Scorpios Restaurant, ”XXI” promises to be a highlight of the summer calendar.
Artworks by elite international artists including Anthony James, Zhuang Hong Yi, Adam Parker Smith, and Daniel Arsham, among others, will also be featured as part of the ”XXI” exhibition portfolio, valued at over $1M (USD) collectively.
The securitization program finances consumer and corporate receivables originated by PPC in Greece.
The securitization program will allow PPC up to EUR 200 million in senior funding to further enhance the company’s liquidity position.
Finacity provided analytic and structuring support and will serve as the ongoing transaction administrator.
Public Power Corporation, a Greek State-controlled entity, is the leading player in the Greek energy market. PPC supplies power to approximately 6.3 million customers throughout Greece and is the largest power generation company in the country.
The company currently holds about 66% of the Greek energy market share. PPC was established in 1950 and has its headquarters based out of Athens, Greece.
The company has been a publicly listed entity since December 2001, with a market capitalization of EUR 858,86 million as of Aug 10, 2020.
The number of employed in May 2020 amounted to 3,729,591 persons. The number of unemployed amounted to 764,912 while the number of inactive amounted to 3,401,996.
The number of employed persons decreased by 193,312 persons compared with May 2019 (a 4.9% rate of decrease) and by 128,924 persons compared with April 2020 (a 3.3% rate of decrease).
The number of unemployed persons decreased by 52,396 persons compared with May 2019 (a 6.4% rate of decrease) and increased by 48,444 persons compared with April 2020 (a 6.8% rate of increase).
The number of inactive persons, i.e., persons that neither work nor look for a job, increased by 205.247 persons compared with May 2019 (a 6.4% rate of increase) and by 77,988 persons compared with April 2020 (a 2.3% rate of increase).
After this, OPAP’s total stake in the Stoiximan group (SMGC), active in Greece and Cyprus, is at 69%, in addition to the holding of 36.75% in the activity of the Stoiximan group outside Greece and Cyprus, Betano.
OPAP is the leading gaming company in Greece.
The company, founded in 1958 as the country’s national lottery and listed in the Athens Exchange in 2001, is the exclusive licensed operator of all numerical lotteries (7 games), sports betting (4 games) and horse racing.
It also operates exclusively, as a controlling shareholder (67%) through a joint venture, the passive lotteries and instant (scratch) games in Greece.
In Romania, revenues were down 1.0% at €228.9mn.
Total Operating Expenses amounted to €586.2mn in Q2’20, a 3.8% decrease versus Q2’19, reflecting stringent cost-control initiatives across the board.
In Q2’20, the Group’s Adjusted EBITDA After Lease (AL) increased by 0.8% to €321.3mn, yielding an Adjusted EBITDA (AL) margin of 35.0%, up 130 basis points. In Greece, Adjusted EBITDA After Lease (AL) was down 1.7% to €285.1mn, and the Adjusted EBITDA (AL) margin improved 90 basis points to 41.2%.
In Romania, Adjusted EBITDA After Lease (AL) grew 25.7% to €36.2mn, and the Adjusted EBITDA (AL) margin improved 330 basis points to 15.8%.
The Group reported Operating profit before financial and investing activities of €137.7mn in Q2’20.
In Q2’19, Group Operating profit before financial and investing activities had totaled €19.6mn, reflecting goodwill impairment charges related to its Romanian mobile operations.
The Group’s Income Tax charge for Q2’20 amounted to €29.5mn, up from €17.5mn in Q2’19, mainly reflecting the positive one-off tax effect in the comparable quarter of the prior year.
Adjusted Group profit after minority interests amounted to €118.4mn in Q2’20, compared to €98.5mn in Q2’19.
Adjusted Capital Expenditures amounted to €151.1mn in Q2’20, down 15.2% from Q2’19, with investments in Greece and Romania standing at €118.0mn and €33.1mn, respectively.
In Q2’20, the Group’s Adjusted Free Cash Flow after leases reached €184.8mn, up from €172.7mn in Q2’19, primarily reflecting lower Capex spending and lower income taxes paid in the quarte
Greek news agency, Amna, writes that a Pizza Hut source said: “In particular, in the last 12 years and despite the continuous years of economic losses we invested 23 million euros for the development of the chain in Greece while at the same time in the last decade we created and secured more than 450 jobs. Unfortunately, however, the coronavirus pandemic, which has created a crisis unprecedented in our country and internationally, has hit the catering sector hard and led to the worsening of existing difficulties and the inability to reverse the negative climate.”
A few days ago NPC International, one of the largest franchisees of Pizza Hut in the USA, went bankrupt due to the effects of the coronavirus pandemic.
Pizza Hut Greece has fulfilled its obligations in full in accordance with the law, paying the relevant compensation plus special additional compensation and having paid all its debts to the employees.
The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 99.7% to €2 million (May 2019: €721 million) and in receipts from residents of non-euro area EU27 countries by 97.8% to €3 million.
Among major countries of origin, the only receipts recorded were from Germany and were very low (down by 99.8% year-on-year).
In January-May 2020, travel receipts totalled €614 million, down by 78.5% relative to the same period of 2019.
This development was driven by an 83.1% decline in receipts from residents of EU27 countries, which came to €240 million, and by a 72.1% drop in receipts from residents of non-EU27 countries to €372 million.
In particular, receipts from euro area residents decreased by 83.9% to €193 million, while receipts from residents of non-euro area EU27 countries fell by 78.8% to €47 million.
Specifically, receipts from Germany dropped by 89.8% to €50 million and receipts from France fell by 91.3% to €15 million.
Turning to non-EU27 countries, receipts from the United Kingdom dropped by 86.2% to €51 million and receipts from the United States decreased by 76.4% to €60 million.
Receipts from Russia also decreased, by 77.2% to €11 million.