Demetra Holdings has reported an impressive profit of €89 million for the year 2023, highlighting its strategic investment in Hellenic Bank as a major contributing factor. The company’s chairman, George Kourris, emphasized the significance of Demetra’s stake in Hellenic Bank, which now stands at 21.3%, making it the second-largest shareholder in the bank.
The substantial profit share of nearly €78 million derived from this investment played a key role in Demetra’s financial success in 2023, with a post-tax profit of €89 million, a significant increase from the previous year. This success has led to the group’s assets rising to €379 million, with equity reaching €368 million, marking a 33.3% increase during the year.
Reflecting on the challenges and opportunities in the global and regional economy, Kourris acknowledged the transformative impact of technology, particularly in sectors like artificial intelligence. He emphasized the role of technology in driving the green transition, essential in addressing climate change challenges.
Despite the inflationary nature of the green transition, Kourris expressed confidence in technology’s deflationary impact, helping to mitigate the substantial costs associated with adapting to new realities. With a strong focus on leveraging technology and strategic investments like its stake in Hellenic Bank, Demetra Holdings is well-positioned for continued success in the evolving economic landscape.
