Athini Hondos, also known as Hondos Center, has completed an acquisition worth nearly €2 million centred on a property in the heart of Nea Ionia.
In July 2025, the company acquired a 55% stake in P. Lianou Brothers S.A. Building Materials for total consideration of €1.99 million. The remaining 45% went to the affiliated company Mikra Technical Tourist S.A.
The acquired company’s main asset is a multi-storey building of 2,821 sq m on a 706 sq m plot at the junction of Eleftheriou Venizelou, Parsis and Meletos streets in Nea Ionia. The company also owns a 92 sq m basement storage facility in the same area.
The acquisition comes at a time when Athini Hondos’ trading activity is showing signs of strain. Revenue rose by 2.4% to €62.5 million. However, the cost of sales increased by 5.4%, bringing gross profit down to €19.48 million from €20.2 million.
The gross margin fell to 31.2% from 33.1%, losing almost two percentage points in a year. The pressure was also reflected in the bottom line. Operating profit fell by 19.3% to €3.11 million, while net profit declined by 22.6% to €1.99 million, from €2.58 million in 2024.
Over the same period, total bank debt rose to €9.75 million from €7.4 million. Investment outflows came to €2.59 million, most of which related to the acquisition. The company paid dividends of €1.5 million during 2025, compared with €980,000 in 2024, while a further distribution of €800,000 is proposed for the 2025 financial year.
Despite the pressure, management expects a significant improvement in results in 2026, saying that sales at the time the report was prepared were running 5% higher than in the corresponding period of 2025.