In 2023, we sharpened our corporate vision, deploying strategic enhancements across all departments and regions. Our efforts culminated in a robust 15.4% growth in total consolidated revenues, reaching 152.6 million EUR. Our fiscal prudence and strategic initiatives bore fruit, as evidenced by a 38.1% surge in profits before tax, soaring from 13.9 million EUR in 2022 to 19.2 million EUR.
Amidst the unpredictable tides of global economic shifts, precise forecasts for Central and Eastern European markets remain challenging. Nevertheless, we remain cautiously optimistic, anticipating a favorable trajectory for the 2024 financial year, despite the complexities of the current economic landscape.
We invite you to delve into our journey over the past year and explore the insights within our Annual Report 2023. This publication offers a comprehensive view of our company, showcasing our commitment to a risk-based approach. The latest edition spotlights our Empowering Excellence @GrECo initiative, celebrates the triumphs of GrECo Turkey, and underscores our forward momentum in the Transportation and Logistics sector.
Related Insights
Timely Credit Risk Monitoring Is Once Again Playing an Important Role for Businesses
Demand has slumped significantly for many companies with payment behaviour deteriorating drastically over the past few months.
More Than Just an Insurance: Credit Insurance in Uncertain Times
At the beginning of the last quarter of 2022 some economic forecasts stated that the energy crisis, inflation, higher interest rates and the outlook for a recession could significantly boost the number of business bankruptcies.
Natural Gas Seems to Be the New Gold: Interview With Michael Kolb
Michael Kolb, Board Member at Acredia, talks about the political effects of the energy crisis and situation of the former Yugoslavian countries.
