It is noted that the company GR. SARANTIS S.A., operates until today in the Russian market through its 100% subsidiary HOZTORG LLC., a commercial business.
As of H1 2022 sales of Hoztorg LLC amounted to € 0.75 mil., representing 0.34% of the Group's total sales.
The assets of Hoztorg LLC in H1 2022 constituted 0.26% of the Group's total assets.
The Group estimates that the negative impact from the termination of its activity in Russia is expected to amount to approximately 1.2 million euros, which reflects the total equity of the Russian company.
Sarantis Group stands alongside those affected by this humanitarian crisis, including our employees and their families in Ukraine. Since the beginning of the war our priority has been the protection and support of our employees in Ukraine, and offering humanitarian aid that was mobilized from the Group’s subsidiaries closer to Ukraine, Sarantis Polska, Polipak and Sarantis Romania.
