Gr. Sarantis SA reported a 1.3% increase in net sales for the first half of 2026, with underlying EBITDA growing 0.4% to $48.5 million, but the company refrained from reaffirming its full-year guidance due to high volatility from geopolitical issues and local market pressures. Underlying net income declined 5% to $27.7 million, while net debt was reduced to $29.6 million and committed loan facilities stand at $120 million for future M&A. The company faces cost pressures from the Middle East conflict and continued declines in Romania and Ukraine, with Romania's net sales down almost 5% and Ukraine's down almost 10%, the latter posting an EBIT loss of $0.7 million. CEO Ioannis Bouras said the 1.3% growth is the minimum expected for the second half, with a higher rate anticipated, and CFO Christos Varsos noted cost pressures will persist in Q3, with pricing benefits expected in Q4. Capital expenditure guidance for 2026 was revised up to $22 million from $20 million, and the five-year plan target of $120 million by 2028 remains intact.
Gr. Sarantis S.A.Middle East conflict and local market pressures cause cost pressures and weak sales in Romania and Ukraine, leading to withheld guidance.
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