Ekonomik Accountants annual results

Ekonomik annual results reach 1.4MLN euro.

Final results of 2020 of Ekonomik, containing Ekonomik Accountants d.o.o. and Ekonomik Asset Management d.o.o. declined versus the previous year (-7%) while total customer base showed a slight increase in absolute numbers on a year-over-year basis (+3%).

The overall results show YoY net revenue (in '000 euro) decrease of 7% from 1.5MLN euro in previous year to 1.4MLN euro in 2020. EA operating income went down -16% versus previous year to 0.98MLN, EAM operating income increased by +25% to 429k. Combined operational net results are 285k euro, company assets increased by +10% to 2.2MLN euro.

The figures, and YoY decline specifically in EA, are mainly driven by the economic challenges, not surprisingly, caused by COVID-19 implications in the customer segments with activities in the construction, development, tourist & adherent industries. The other industries showed less decline either increases in specific sectors like ICT, healthcare and food industry. Therefore, thanks to the broad base of customers that our company represents,  offset most deviations in this challenging but prosperious year.

Jacco Landsmeer

Partner Ekonomik Accountants d.o.o.