olivLaw · European equity research
ΒΙΟΚΑΡΠΕΤ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΒΙΟΜΗΧΑΝΙΚΕΣ ΚΑΙ ΕΜΠΟΡΙΚΕΣ ΕΠΙΧΕΙΡΗΣΕΙΣ BIOKA.AT
Greece · Athens Stock Exchange · ISIN GRS165063009 · Vertical: Listed companies from Greece
BIOKARPET is a Greek group active in home textiles and in aluminium profiles through its subsidiary Exalco, with a large part of its sales exported. For 2026 management reports a better start than the prior year, supported by higher first-quarter orders at Exalco.
At the close of 06 Nov 2026, ΒΙΟΚΑΡΠΕΤ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΒΙΟΜΗΧΑΝΙΚΕΣ ΚΑΙ ΕΜΠΟΡΙΚΕΣ ΕΠΙΧΕΙΡΗΣΕΙΣ (BIOKA.AT) stock was 1.47 EUR (−1.34% on the day), with market capitalisation 35.2 m EUR, P/E 10.9 on diluted EPS of 0.14 EUR over the last 12 months, beta 0.74, 52-week range 1.44–2.00 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 42.7
- weak (30–45)
- Bollinger (20, 2)
- 1.43 – 1.52
- in the lower half of the band · %B 0.42 · band width 5.9%
- SMA 50 / 200
- 1.55 / 1.64
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −3.5% | −0.6% | −2.9 pp | — |
| 3 months | −13.6% | −4.2% | −9.5 pp | — |
| 6 months | −8.7% | +4.3% | −13.0 pp | — |
| Year to date | −25.2% | +7.5% | −32.7 pp | — |
| 1 year | −17.9% | +9.9% | −27.8 pp | +0.4% |
| 3 years | −36.4% | +49.8% | −86.2 pp | +38.4% |
| 5 years | +1.4% | +42.8% | −41.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 3-quarter history (min 12.4, median 14.6, max 144.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 210.0 m | 205.5 m | 213.1 m |
| Revenue YoY | unavailable | −2.1% | +3.7% |
| Net income | 5.5 m | 302.5 k | 3.2 m |
| Net income YoY | unavailable | −94.5% | +968.6% |
| Diluted EPS | 0.23 | 0.01 | 0.14 |
| Diluted EPS YoY | unavailable | −94.3% | +938.5% |
| net % | 2.6% | 0.1% | 1.5% |
| Free cash flow | -657.2 k | -4.7 m | -10.0 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 4.7 m EUR
- Financial debt
- 106.1 m EUR
- Net debt
- 101.3 m EUR
- Equity
- 51.2 m EUR
- Total assets
- 206.2 m EUR
- Debt / equity
- 2.07x
- Current ratio
- 2.17x
- ROE
- 6.5%
- ROA
- 1.6%
- FCF margin
- -4.7%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 210.0 m | 205.5 m | 213.1 m | esef· 23 Oct 2026verified |
| Cost of revenue | 174.5 m | 174.1 m | 179.2 m | esef· 23 Oct 2026verified |
| Gross profit | 35.5 m | 31.4 m | 33.9 m | esef· 23 Oct 2026verified |
| Research & development | 580.9 k | 622.2 k | 758.5 k | esef· 23 Oct 2026verified |
| Operating income | 12.9 m | 6.9 m | 8.7 m | esef· 23 Oct 2026verified |
| Interest expense | 7.2 m | 7.4 m | 5.7 m | esef· 23 Oct 2026verified |
| Pre-tax income | 6.3 m | 1.1 m | 4.1 m | esef· 23 Oct 2026verified |
| Income tax | 691.7 k | 771.5 k | 877.9 k | esef· 23 Oct 2026verified |
| Net income | 5.5 m | 302.5 k | 3.2 m | esef· 23 Oct 2026verified |
| Diluted EPS | 0.23 | 0.01 | 0.14 | esef· 23 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 7.5 m | 8.3 m | 4.7 m | esef· 23 Oct 2026verified |
| Receivables | 45.5 m | 44.2 m | 46.1 m | esef· 23 Oct 2026verified |
| Inventories | 37.7 m | 41.4 m | 40.8 m | esef· 23 Oct 2026verified |
| Current assets | 102.3 m | 99.1 m | 95.6 m | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 77.5 m | 85.2 m | 85.3 m | esef· 23 Oct 2026verified |
| Intangibles (excl. goodwill) | 110.7 k | 104.2 k | 117.2 k | esef· 23 Oct 2026verified |
| Total assets | 197.0 m | 204.2 m | 206.2 m | esef· 23 Oct 2026verified |
| Short-term debt | 10.0 m | 8.7 m | 9.3 m | esef· 23 Oct 2026verified |
| Long-term debt | 85.2 m | 91.1 m | 96.7 m | esef· 23 Oct 2026verified |
| Current liabilities | 51.0 m | 51.0 m | 44.1 m | esef· 23 Oct 2026verified |
| Total liabilities | 147.2 m | 155.3 m | 155.0 m | esef· 23 Oct 2026verified |
| Equity | 49.7 m | 48.9 m | 51.2 m | esef· 23 Oct 2026verified |
| Shares outstanding at year end | 24.0 m | 23.3 m | 23.9 m | esef· 23 Oct 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 12.0 m | 11.0 m | 3.3 m | esef· 23 Oct 2026verified |
| Capex | 12.7 m | 15.7 m | 13.3 m | esef· 23 Oct 2026verified |
| Free cash flow | -657.2 k ≈ | -4.7 m ≈ | -10.0 m ≈ | esef· 23 Oct 2026derived |
| Investing cash flow | -12.0 m | -13.8 m | -11.2 m | esef· 23 Oct 2026verified |
| Financing cash flow | 3.8 m | 3.6 m | 4.3 m | esef· 23 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 35.2 m EUR
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.11 – 1.82 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E1.11 – 1.82 (Mid 1.48)26 companies used · median multiple 11.0x · quartiles 8.2x – 13.5xAEGN.AT, AEM.AT, ALMY.AT, ASCO.AT, ASTAK.AT, AVAX.AT, BELA.AT, BIOSK.AT, BIOT.AT, BRIQ.AT, BYLOT.AT, CENER.AT, CENTR.AT, DAIOS.AT, DIMAND.AT, EIS.AT, ELBE.AT, ELHA.AT, ELLAKTOR.AT, ELSTR.AT, ELTON.AT, ETE.AT, EUROB.AT, EYAPS.AT, FAIS.AT, FLEXO.AT
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.7% | 33 (vs peers) | 20% |
| Net margin · Quality | 1.5% | 23 (vs peers) | 12% |
| FCF conversion · Quality | -310.3% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.5x | 0 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 2.2x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 10.9x | 57 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -28.5% | 0 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality21/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation31/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ΒΙΟΚΑΡΠΕΤ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΒΙΟΜΗΧΑΝΙΚΕΣ ΚΑΙ ΕΜΠΟΡΙΚΕΣ ΕΠΙΧΕΙΡΗΣΕΙΣ (BIOKA.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 213.1 m EUR in 2025; YoY growth 3.7%; net margin 1.5%; ROE 6.6%.
The estimated value range is 1.11–1.82 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.48 EUR, the price of 1.47 EUR leaves a potential of 0.8% (value / price − 1) and a margin of safety of 0.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.2x
What contradicts it
- Net margin: 1.5%
- FCF conversion: -310.3%
- Interest coverage: 1.5x
- FCF yield: -28.5%
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Greece · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EUROB.ATΤραπεζα Eurobank Ανωνυμη Eταιρεια | 16.5 bn | 12.1 | 14.0% | 39.7% | +2.7% | +32% / +165% |
| ETE.ATΕθνικη Τραπεζα Της Ελλαδος Α.ε. | 14.8 bn | 12.7 | 13.3% | 42.5% | −5.4% | +21% / +159% |
| ELPE.ATHelleniq Energy Ανωνυμη Εταιρεια Συμμετοχων | 4.9 bn | 28.2 | 6.4% | 1.5% | −9.0% | +95% / +111% |
| CENER.ATCenergy Holdings | 4.4 bn | 22.9 | 24.3% | 9.4% | +14.7% | +41% / +199% |
| BELA.ATJumbo Ανωνυμη Εμπορικη Εταιρεια | 3.7 bn | 11.5 | 21.5% | 26.0% | +7.2% | +0% / +14% |
| AKTR.ATΑκtor Ανώνυμη Εταιρεία Συμμετοχών, Τεχνικών Και Ενεργειακών Έργων | 2.0 bn | 110.6 | 6.7% | 1.3% | +11.2% | +7% / +186% |
| EYDAP.ATΕταιρια Υδρευσεως Και Αποχετευσεως Πρωτευουσης Ανωνυμη Εταιρια | 1.4 bn | — | -2.6% | -5.9% | −2.4% | +83% / +132% |
| ELHA.ATEλβαλχαλκορ Ελληνικη Βιομηχανια Χαλκου Και Αλουμινιου Ανωνυμος Εταιρεια | 1.3 bn | 12.2 | 9.8% | 2.9% | +5.1% | +4% / +80% |
| AEGN.ATΑεροπορια Αιγαιου Ανωνυμη Αεροπορικη Εταιρεια | 995.2 m | 6.7 | 27.7% | 7.9% | +4.6% | −23% / −3% |
| AVAX.ATΑβαξ Ανωνυμη Εταιρεια Εργοληπτικη-Τουριστικη-Εμπορικη-Βιομηχανικη-Οικοδομικων Υλικων & Μηχανηματων | 495.3 m | 10.4 | 25.9% | 5.0% | +47.1% | +37% / +119% |
| BYLOT.ATBally's Intralot Α.ε. | 460.2 m | 15.1 | -9.3% | -12.6% | +34.8% | +10% / +17% |
| ELLAKTOR.ATΕλλακτωρ Ανωνυμη Εταιρεια | 419.4 m | 2.7 | 26.1% | 175.2% | −74.8% | −32% / −44% |
| AEM.ATAlter Ego Media Α.ε. | 350.0 m | 17.8 | 18.3% | 14.0% | +12.6% | −3% / unavailable |
| ALMY.ATΑλουμυλ Βιομηχανια Αλουμινιου Αε | 319.4 m | 10.4 | 23.5% | 6.0% | +11.7% | +15% / +118% |
| DIMAND.ATDimand Ανωνυμη Εταιρεια Αξιοποιησης Και Εκμεταλλευσης Ακινητων Και Κατασκευων Υπηρεσιων Και Συμμετοχων | 266.7 m | 7.6 | 18.5% | 58.5% | +110.6% | +42% / +28% |
| EVR.ATΕυρώπη Holdings Α.ε. | 168.6 m | 37.2 | 2.9% | 30.7% | +435.3% | −32% / +33% |
| EYAPS.ATΕταιρεια Υδρευσης & Αποχετευσης Θεσσαλονικης Α.ε. | 166.6 m | 21.6 | 4.1% | 8.8% | +2.4% | +22% / +39% |
| BRIQ.ATBriq Properties Ανωνυμη Εταιρεια Επενδυσεων Σε Ακινητη Περιουσια | 148.6 m | 5.9 | 15.5% | 116.9% | +37.8% | +12% / +69% |
| FAIS.ATΦαις Συμμετοχων Ανωνυμη Εταιρεια | 116.3 m | 8.7 | 22.1% | 6.3% | +12.9% | −7% / unavailable |
| DAIOS.ATΔαϊος Πλαστικα Ανωνυμη Βιομηχανικη Εμπορικη Εταιρεια Α.ε. | 102.0 m | 10.3 | 14.0% | 15.6% | +9.1% | −5% / +113% |
| ASTAK.ATAlpha Real Estate Services Ae | 94.7 m | 12.6 | 10.4% | 30.3% | +22.4% | −7% / −7% |
| FLEXO.ATFlexopack Ανωνυμη Εμπορικη Και Βιομηχανικη Εταιρεια Πλαστικων | 92.5 m | 8.3 | 8.3% | 6.8% | +4.6% | −2% / −2% |
| ASCO.ATA.s. Εμπορικη-Βιομηχανικη Εταιρια Η/υ & Παιχνιδιων Α.ε. | 59.6 m | 10.4 | 14.1% | 15.8% | +16.4% | +10% / +105% |
| AVE.ATAve Α.ε. | 50.4 m | — | -25.2% | -7.4% | +8.2% | −8% / −13% |
| ELTON.ATΕλτον Διεθνους Εμποριου Ανωνυμη Εμπορικη Βιομηχανικη Εταιρεια | 46.8 m | 13.7 | 4.9% | 1.9% | +8.6% | −12% / −19% |
1- and 3-year price returns: for BIOKA.AT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.86 Total return -41% · Per year -41% | 1.52 Total return 4% · Per year 4% | 2.30 Total return 56% · Per year 56% |
| 3 years | 0.82 Total return -44% · Per year -18% | 1.64 Total return 12% · Per year 4% | 2.72 Total return 85% · Per year 23% |
| 5 years | 0.79 Total return -46% · Per year -12% | 1.77 Total return 20% · Per year 4% | 3.21 Total return 118% · Per year 17% |
- Exit P/E± 0.41
- Net margin± 0.29
- Annual revenue growth± 0.24
- Annual dilution± 0.02
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
BIOKARPET is a Greek group active in home textiles and in aluminium profiles through its subsidiary Exalco, with a large part of its sales exported. For 2026 management reports a better start than the prior year, supported by higher first-quarter orders at Exalco.
SWOT
Strengths
- The group has a diversified structure across trading and metallurgy, and a large export share in aluminium.
- Its own store network and wholesale distribution give direct access to customers in the domestic market.
- Management has secured supply for all of 2026 through contracts and inventory planning.
Weaknesses
- A significant part of the aluminium is imported, exposing the group to international prices and transport.
- The report contains no ESG-linked pay targets, and clawback clauses in executive contracts have not yet been updated.
- No dividend is distributed for fiscal 2025, which limits shareholder returns.
Opportunities
- If export orders at Exalco keep growing, existing capacity could be used more fully.
- The solar plants and the new packaging machine could lower production costs.
- Diversifying the product range toward different income segments could support demand.
Threats
- A prolonged conflict in the Middle East could disrupt transport and aluminium prices.
- If Greek aluminium producers halt output or relations break down, the group could face supply problems.
- Rising energy costs and inflation could reduce margins in both segments.
Risks
- Dependence on aluminium suppliershigh
Part of the raw material comes from Greece and a larger part from imports. A supplier disruption could affect production, sales and the group's reputation.
- Geopolitical and transport risksmedium
Tensions in the Middle East can disrupt transport and supply chains, according to the report.
- Energy price volatilitymedium
Energy costs influence the cost of aluminium and production, and swings can affect margins.
- Concentration of trading on the domestic marketmedium
Trading remains mainly in Greece, which exposes revenue to local economic conditions.
- Executive pay clauses not updatedlow
The report indicates that bonus recovery mechanisms have not yet been updated in executive contracts.
Investment thesis
What would need to be true (bull case)
- If first-quarter order growth holds, Exalco could have a stronger year than 2025.
- Investments in solar power and packaging could lower operating costs over the medium term.
- The two-segment structure could cushion demand shocks in one of the businesses.
What would break the thesis
- Dependence on imported aluminium could expose margins to price and transport shocks.
- If the regional war drags on, costs and supply could be hit.
- The absence of a dividend for 2025 could discourage income-seeking shareholders.
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group operates in two areas: trading carpets, rugs, white goods and household equipment, and producing aluminium profiles through Exalco and its Romanian subsidiary. The company sells mainly in Greece, both wholesale and through 7 own stores, while Exalco exports most of its output. Management aims to serve all income levels of buyers, which according to the report limits the risk of a major fall in demand.
Aluminium supply is a key dependence: part of the raw material comes from Greek producers and most is imported. Management states it has secured the quantities needed for all of 2026 through trusted suppliers and inventory planning.
Recent investments include photovoltaic plants at Biokarpet and Exalco, commissioned in April 2026, and a new automatic packaging machine at Exalco, expected to be completed in August 2026. They aim to lower energy and packaging costs.
Segments
Trading (home textiles and household goods)
The trading segment sells wholesale, accounting for about 36% of the parent's turnover, and through 7 own stores in the country. Sales to related parties include carpets, rugs, white goods and IT products.
Metallurgy and aluminium profiles (Exalco)
Exalco, held at 98.39%, produces aluminium profiles, with about 70% of output sold abroad. First-quarter 2026 orders rose both for export and in the domestic market.
Market context
Management describes an international environment marked by geopolitical instability, especially the war in the Middle East, and economic uncertainty. Product prices generally move with inflation, while the cost and availability of aluminium depend on energy prices and transport.
For the aluminium segment, revenue depends largely on export demand, which the company considers sustainable over the medium term. If tensions in the region intensify, transport and energy costs could rise and squeeze margins.
Competitive position
The annual report does not name competitors. In household textiles and aluminium profiles the group operates in markets with many producers and distributors, and its edge rests on its broad product range and own store network.
In aluminium, Exalco depends on a few Greek primary aluminium producers, so competitive pressure also comes through raw material cost. The company bases its position on profile quality, finishes and export capacity.
- Greek primary aluminium producers
The report mentions four companies producing primary aluminium in Greece, the raw material source for Exalco; they are not named.
- Aluminium profile producers in Greece and abroad
Direct competitors of Exalco in aluminium profiles, not identified in the source.
- Home textile distributors
Competition in carpets and rugs trading, with no names in the report.
- Household goods retail chains
Competition for the own retail store network, with no entities named in the source.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202523 Oct 2026
- Annual report 202423 Oct 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / ΒΙΟΚΑΡΠΕΤ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΒΙΟΜΗΧΑΝΙΚΕΣ ΚΑΙ ΕΜΠΟΡΙΚΕΣ ΕΠΙΧΕΙΡΗΣΕΙΣ · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.