The bonuses problem at Attica Group, the “Nationwide”… resistance and the “fantasy” in coastal transport – Financial Postman – 2024-06-30 19:30:16

· A problem is the fats pay and inventory choices that Attica Group distributes to its executives.

· And whereas the recollections of the tens of millions of euros in damages prompted to the Piraeus financial institution and its shareholders are nonetheless contemporary.

· Administration from 2023 earnings is to obtain 7.8% of earnings as remuneration. Particularly within the pocket of the members of the Board of Administrators. it’s estimated that just about 3 million euros will are available.

· Not unhealthy (not unhealthy) as our Anglo-Saxon pals would say.

· Then again, the opposite shareholders can be given a dividend of simply 7 euro cents (0.07 euro).

· As well as, the executives of Attica Group will obtain further compensation from inventory choices totaling roughly 12 million euros (by way of the issuance of 5.5 million new shares at a worth of two.25 euros).

· Clarifications. The above is predicted to be accredited on the upcoming common meeting on July 12.

· And all this at a time when Greek society is now not capable of journey to the islands because of the excessive price of ferry tickets.

· On the similar time, he sees transport executives being rewarded due to the surplus earnings they make.

· Ought to the administration of Piraeus Financial institution as the principle shareholder of Attica consider its angle?

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What does Stylianides’ letter to the Competitors Fee present?

Minister Stylianidis went to the Competitors Fee yesterday.

· And requested for her enter on the scenario in coastal transport.

· And primarily we are going to speak in regards to the costs of the tickets which can be “burning”…

· Many applauded her. Nevertheless, it’s an admission of failure.

· And we clarify ourselves.

· It reveals that the federal government can not management the market.

· And above all to create situations of competitors to cut back the unapproachable costs.

· It stays to be seen, nonetheless, what the Fee’s scope for intervention is.

· However as they are saying available in the market, there will not be many instruments out there.

· At Fee degree, that’s.

· As a result of on different ranges, it takes “creativeness” to beat the seasonality of coastal strains.

· The principle argument of the shipowners.

· That within the months apart from July and August they journey with low occupancy.

· That’s, 10 out of 12 months, with the identical price, the income is lowered.

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The “resistance” of the nationwide crew to 7 billion euros

· Nationwide Financial institution went by way of 40 waves yesterday.

· Lastly managed to maintain the 7 billion in its capitalization.

· Though the following day can be troublesome.

· Not a lot for the financial institution itself, whose credentials we’ve seen.

· However in regards to the local weather prevailing within the markets.

· In spite of everything, Optima Financial institution hastened to lift its goal worth to… 10.84 euros.

· From 9.20 euros beforehand, the truth is.

· And this enhance is because of the improve of estimates for profitability within the interval 2024-2026.

· And consequently the very best RoaTBV in addition to the bottom Price of Fairness.

· Web earnings are estimated to succeed in €1.16 billion in 2024 (5% enhance).

· And round €1.23 billion in 2025 (+6% yoy).