Greek timber supplier Interwood Xylemporia posted a 17.1 percent increase in company turnover to €20.40 million in the first half of 2026, driven by expanding operations in major construction projects across Greece.
The company also achieved a €9.2 million reduction in its total debt following the end of June, supported by real estate sales and capital raising measures.
At the group level, turnover rose by 16.4 percent to €24.57 million during the six-month period, compared with €21.11 million in the first half of 2025. Company turnover in the corresponding period of 2025 stood at €17.42 million.
Operating profitability recorded strong growth across the business. Company earnings before interest, taxes, depreciation, and amortization rose by 45.2 percent to €1.52 million, up from €1.05 million a year earlier.
Group EBITDA reached €2.09 million in the first half of 2026, reflecting a 48.3 percent gain over the €1.41 million generated during the same period in 2025.
Financial performance and profit breakdown
Pre-tax profits for the company reached €2.25 million for the first half, up from €43 thousand in the prior-year period. The financial results included an extraordinary gain of approximately €1.65 million from the sale of company real estate in Kifisia.
Excluding the impact of the property transaction in Kifisia, pre-tax profits stood at approximately €595 thousand, compared with €43 thousand recorded in the first half of 2025.
Interwood Xylemporia S.A. is an established Greek enterprise specializing in the import, processing, and distribution of raw timber, engineered wood products, and decorative panels. EBITDA, or earnings before interest, taxes, depreciation, and amortization, serves as a standard metric used by financial analysts to evaluate core operational performance before accounting for capital structure and non-cash charges.
Debt reduction and property sales
Alongside its operating gains, Interwood accelerated planned measures to reduce corporate debt and strengthen its capital structure. The company reduced its overall debt position by approximately €9.2 million relative to its balance recorded on June 30, 2026.
Short-term bank debt repayments totaling €7.2 million were executed after June 30, utilizing funds generated from real estate divestments and capital raised through a share capital increase. Long-term debt was lowered by €2.0 million through the contribution of common bonds as part of the share capital increase.
In September, Interwood finalized the sale of a corporate property in Mandra, Attica, for a total price of €3.0 million. The company allocated €2.0 million of the proceeds toward reducing short-term bank debt, with the remainder designated for investment in infrastructure modernization and upgrades after covering transaction expenses.
Kifisia is a commercial and residential municipality located north of central Athens, while Mandra forms part of West Attica's industrial belt near major regional transportation networks. Real estate transactions in these areas have provided key liquidity for industrial firms seeking to rebalance their balance sheets.
Construction expansion and commercial credit
The expansion into major construction projects emerged as a principal growth driver during the first half. Of the company's total turnover increase of approximately €3.0 million, about €1.6 million originated from this newly established business line.
Interwood is currently participating in material supply contracts for major construction projects. To support this growth, the company completed a restructuring and refinancing of its existing bank debt while securing new credit lines for project contract financing, letters of guarantee, and factoring facilities.
Commercial credit tools such as letters of guarantee and factoring allow material suppliers to fulfill large-scale contracts by ensuring financial backing and maintaining cash flow liquidity during extended project execution cycles.
Executive statements and future outlook
Chief Executive Officer Alexandra Gerardi stated that 2026 represents a year of substantial transformation for Interwood. She said the management team is not solely focused on increasing turnover, but intends for revenue growth to be accompanied by higher operational profitability, lower leverage, and enhanced capital efficiency.
Gerardi noted that sales grew by 17 percent and EBITDA by 45 percent during the first half, while debt was reduced by €9.2 million in the subsequent months. She added that the major projects unit, established as a new growth axis, has already developed a meaningful commercial scale.
Gerardi emphasized that further work remains to be completed, but affirmed that the company's strategic direction is clear toward building a more profitable organization with a stronger financial base to capture market opportunities.
Looking ahead to the second half of 2026, management expects positive sales momentum to continue. The company projected that major project activities will continue to support revenue and operational earnings growth throughout the remainder of the year.
Interwood plans to maintain the implementation of its operational and investment strategy, focusing on operational efficiency, seizing opportunities in the major construction market, and sustaining its improved financial position.
