Just Transition Development Areas - March 2025
The Just Transition Development Programme focuses on supporting areas dependent on the extraction and combustion of lignite for electricity generation
The intervention areas of this project are defined as the Region of Western Macedonia, consisting of the Regional Units of Kozani, Kastoria, Florina, Grevena, and the Municipality of Megalopolis and the neighbouring Municipalities of Oichalia, Gortynia and Tripolis. The documentation of the intervention areas as well as the targeted planning for each of them is included in the 3 distinct Just Transition Territorial Plans (JTTPs) accompanying the JDTP.
The demographic and economic data of the enterprises presented are a summary of the business developments in Western Macedonia, Megalopolis and the neighbouring municipalities.
More specifically, the following data refer to the three-year period 2021 - 2023 and are derived from the aggregated data of the enterprises located in the areas of interest, according to their published balance sheets.
It is worth noting that the analysis concerns the enterprises in the intervention areas that had published their financial data, up to the time of data recording, for all three consecutive reference years 2021- 2023.
Region of Western Macedonia
Number of Enterprises per Regional Unit
The number of enterprises in the sample that are based in Western Macedonia amounted to 116 enterprises. Of these enterprises 79 are located in Kozani, 25 in Kastoria, 8 in Florina and 4 in Grevena.
Share of profitable - loss-making enterprises
In all the Regional Units, profitable enterprises accounted for 51.7% of the total number of enterprises based on their published financial data, while the rest were loss-making (48.3%).
Legal form of enterprises
In terms of the legal form of the enterprises in the sample, Public Limited Companies constitute the majority, accounting for 49.1%. They are followed by Private Equity Companies (PECs) with 31.9%, Single Person PECs with 6%, followed by Limited Liability Companies (LLCs) and Single Person LLCs.
Turnover of Enterprises by Regional Unit
The grouped balance sheets of the sample were compiled to calculate the turnover of enterprises by Regional Unit. The turnover of enterprises located in the wider region of Western Macedonia, records an upward trend from 2021 and a cumulative percentage increase of 39.1%. In particular, the turnover of the 116 enterprises in the sample for 2023 amounted to €306.9 million compared to €220.7 million in 2021. The largest part of it concerns enterprises based in R.U. of Kozani (€174.3 million).
Regional Units of Arcadia and Messinia
It is emphasized that the following analysis includes all enterprises in the regions of Arcadia and Messinia as the sample of enterprises in the project areas that have published a balance sheet for all three years is particularly small.
Number of enterprises by Regional Unit
The number of enterprises in the sample that are located either in the Regional Unit of Arcadia or in the Regional Unit of Messinia and have published a balance sheet for all three years under consideration (2021-2023) is 35 enterprises.
Share of profitable - loss-making enterprises
For the two Regional Units the share of profitable/loss-making enterprises is almost the same, as 62.9% of the enterprises are classified as profitable enterprises, based on their published financial data, while the rest are classified as loss-making enterprises (37.1%).
Legal form of enterprises
42.9% of the sample are Public Limited Companies, followed by Private Equity Companies (P.E.C.) with a share of 22.9% and Sole P.E.C. with 11.4%.
Turnover of Enterprises by Regional Unit
The total turnover of enterprises based in the R.U. of Arcadia and Messinia, records an upward trend from 2021 to 2023, meaning a cumulative percentage increase of 42.2%. In particular, the sales of the 35 enterprises in the sample for 2023 exceeded € 110 million. The largest share came from enterprises based in the R.U. of Arcadia (€ 90.1 million), which is the largest share in terms of number of enterprises in the sample.
