TITLE:
Analysis of Financial Statements as a Competitiveness Advantage of the Firms in the Greek Poultry Sector 2010-2016
AUTHORS:
Christos Konstantinidis, Panagiotis Pantelidis, Nikolaos Kartzias
KEYWORDS:
Assets, Liabilities, Net Worth, Ratios, Income, Expenses, Profit, Loss, Result, Company, Capital, Foreign Capital, Z Score
JOURNAL NAME:
Theoretical Economics Letters,
Vol.11 No.5,
October
11,
2021
ABSTRACT: The egg industry is a sector which has a very
important role in the Greek economy. The current research aimed at analyzing
the financial statements of Kartzias G. SA, Tsakiris Family SA, Golden Eggs SA,
Sovimo Hellas SA and Augodiatrofiki SA companies with the largest market share
in the market. They belong to the food industry and they have the leading role
in the market, mainly with producing and selling eggs. The analysis was conducted
with the help of financial ratios, specifically Altman’s Z score, on a series
of 7 years, from 2010 to 2016. With this analysis and with the help of the Z
score model, we can have a look at the financial image of the companies and
more importantly the course they had in the big financial crisis that affected
many companies in Greece. The results occurred from the analysis mentioned
above show that Kartzias G. SA has significantly improved her Z score which at
2016 was at 10.061 and is in no danger of bankruptcy. Next one is
Avgodiatrofiki with a Z score of 1.330 at 2016 and is in the gray zone
according to Altman’s Z score.