olivLaw · European equity research
Ε. ΠΑΪΡΗΣ ΑΝΩΝΥΜΟΣ ΒΙΟΜΗΧΑΝΙΚΗ ΚΑΙ ΕΜΠΟΡΙΚΗ ΕΤΑΙΡΕΙΑ ΠΛΑΣΤΙΚΩΝ PAIR.AT
Greece · Athens Stock Exchange · ISIN GRS275073005 · Vertical: Listed companies from Greece
Ε. ΠΑΪΡΗΣ is a Greek industrial company in plastic materials, with high technical-specification production. In fiscal 2025 group revenue fell by 8.31%, while management pursues cost efficiency and new equipment investment.
At the close of 06 Nov 2026, Ε. ΠΑΪΡΗΣ ΑΝΩΝΥΜΟΣ ΒΙΟΜΗΧΑΝΙΚΗ ΚΑΙ ΕΜΠΟΡΙΚΗ ΕΤΑΙΡΕΙΑ ΠΛΑΣΤΙΚΩΝ (PAIR.AT) stock was 0.73 EUR (−2.67% on the day), with market capitalisation 3.6 m EUR, P/E 8.5 on diluted EPS of 0.09 EUR over the last 12 months, beta 0.47, 52-week range 0.73–0.97 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)
- 38.1
- weak (30–45)
- Bollinger (20, 2)
- 0.73 – 0.82
- in the lower half of the band · %B 0.01 · band width 11.7%
- SMA 50 / 200
- 0.81 / 0.85
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.01
- MACD below 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 | −7.6% | −0.6% | −6.9 pp | — |
| 3 months | −20.7% | −4.2% | −16.5 pp | — |
| 6 months | −7.6% | +4.3% | −11.9 pp | — |
| Year to date | −19.6% | +7.5% | −27.1 pp | — |
| 1 year | −14.1% | +9.9% | −24.0 pp | +0.4% |
| 3 years | −27.0% | +49.8% | −76.8 pp | +38.4% |
| 5 years | −20.7% | +42.8% | −63.5 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 10.5, median 14.3, max 24.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 14.0 m | 12.2 m | 11.2 m |
| Revenue YoY | unavailable | −12.5% | −8.3% |
| Net income | 232.0 k | 346.6 k | 428.8 k |
| Net income YoY | unavailable | +49.4% | +23.7% |
| Diluted EPS | 0.05 | 0.07 | 0.09 |
| Diluted EPS YoY | unavailable | +49.3% | +23.7% |
| net % | 1.7% | 2.8% | 3.8% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 166.0 k EUR
- Financial debt
- 7.3 m EUR
- Net debt
- 7.1 m EUR
- Equity
- 4.1 m EUR
- Total assets
- 17.0 m EUR
- Debt / equity
- 1.77x
- Current ratio
- 1.32x
- ROE
- 11.0%
- ROA
- 2.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 14.0 m | 12.2 m | 11.2 m | esef· 23 Oct 2026verified |
| Cost of revenue | 10.8 m | 9.7 m | 8.9 m | esef· 23 Oct 2026verified |
| Gross profit | 3.1 m | 2.5 m | 2.3 m | esef· 23 Oct 2026verified |
| Operating income | 1.1 m | 1.1 m | 989.3 k | esef· 23 Oct 2026verified |
| Interest expense | 758.5 k | 729.9 k | 528.1 k | esef· 23 Oct 2026verified |
| Pre-tax income | 361.2 k | 461.6 k | 588.2 k | esef· 23 Oct 2026verified |
| Income tax | 129.2 k | 115.0 k | 159.4 k | esef· 23 Oct 2026verified |
| Net income | 232.0 k | 346.6 k | 428.8 k | esef· 23 Oct 2026verified |
| Diluted EPS | 0.05 | 0.07 | 0.09 | esef· 23 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 214.2 k | 238.0 k | 166.0 k | esef· 23 Oct 2026verified |
| Inventories | 3.1 m | 3.1 m | 3.4 m | esef· 23 Oct 2026verified |
| Current assets | 9.4 m | 8.9 m | 8.3 m | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 7.1 m | 6.7 m | 7.1 m | esef· 23 Oct 2026verified |
| Intangibles (excl. goodwill) | 6.8 k | 6.1 k | 7.2 k | esef· 23 Oct 2026verified |
| Total assets | 18.0 m | 17.1 m | 17.0 m | esef· 23 Oct 2026verified |
| Short-term debt | 2.6 m | 2.4 m | 1.6 m | esef· 23 Oct 2026verified |
| Long-term debt | 6.6 m | 6.1 m | 5.7 m | esef· 23 Oct 2026verified |
| Current liabilities | 7.4 m | 6.7 m | 6.3 m | esef· 23 Oct 2026verified |
| Total liabilities | 14.7 m | 13.4 m | 12.9 m | esef· 23 Oct 2026verified |
| Equity | 3.3 m | 3.7 m | 4.1 m | esef· 23 Oct 2026verified |
| Shares outstanding at year end | 5.0 m | 5.0 m | 5.0 m | esef· 23 Oct 2026derived |
Cash flow · EUR
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
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 3.6 m EUR
Key indicators
Coverage and freshness
Score by group
38% · 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: 0.72 – 1.16 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 · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E0.72 – 1.16 (Mid 0.97)26 companies used · median multiple 11.2x · quartiles 8.3x – 13.5xAEGN.AT, AEM.AT, ALMY.AT, ASCO.AT, ASTAK.AT, AVAX.AT, BELA.AT, BIOKA.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
- 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: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.2% | 44 (vs peers) | 28% |
| Net margin · Quality | 3.8% | 36 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.9x | 6 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 1.3x | 43 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 8.5x | 77 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| 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 sheet21/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality41/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial77/100 · 1/3 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
Ε. ΠΑΪΡΗΣ ΑΝΩΝΥΜΟΣ ΒΙΟΜΗΧΑΝΙΚΗ ΚΑΙ ΕΜΠΟΡΙΚΗ ΕΤΑΙΡΕΙΑ ΠΛΑΣΤΙΚΩΝ (PAIR.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 11.2 m EUR in 2025; YoY growth -8.3%; net margin 3.8%; ROE 11.0%.
The estimated value range is 0.72–1.16 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.97 EUR, the price of 0.73 EUR leaves a potential of 32.3% (value / price − 1) and a margin of safety of 24.4% (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 (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 8.5x
What contradicts it
- Interest coverage: 1.9x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, 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% |
| 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% |
| ELSTR.ATΕλαστρον Α.ε.β.ε. Χαλυβουργικα Προϊοντα | 45.7 m | 8.2 | 6.6% | 3.3% | −5.2% | +4% / −14% |
1- and 3-year price returns: for PAIR.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 | 0.39 Total return -47% · Per year -47% | 0.69 Total return -5% · Per year -5% | 1.05 Total return 44% · Per year 44% |
| 3 years | 0.31 Total return -58% · Per year -25% | 0.63 Total return -14% · Per year -5% | 1.05 Total return 44% · Per year 13% |
| 5 years | 0.25 Total return -66% · Per year -20% | 0.56 Total return -23% · Per year -5% | 1.05 Total return 44% · Per year 8% |
- Exit P/E± 0.16
- Net margin± 0.11
- Annual revenue growth± 0.10
- Annual dilution± 0.01
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
Ε. ΠΑΪΡΗΣ is a Greek industrial company in plastic materials, with high technical-specification production. In fiscal 2025 group revenue fell by 8.31% 1, while management pursues cost efficiency and new equipment investment.
SWOT
Strengths
Weaknesses
- Revenue declined in fiscal 2025, with a significant drop compared with the prior year 1.
- The small workforce and management structure limit the ability to cover all governance requirements 1.
- ESG indicators for executive remuneration are not yet established, which limits the link between performance and sustainability 1.
Opportunities
Risks
- Declining revenuehigh
Group revenue fell in 2025, and a continued decline could weaken the ability to sustain current profitability 1.
- High input costshigh
Raw material, energy and transport prices stayed high, which could squeeze production margins 1.
- Physical climate risksmedium
Extreme weather can disrupt the supply chain and production, with effects that could prove lasting 1.
- Climate compliance costsmedium
Legal obligations to cut emissions and report annually could add further expenses 1.
- Concentration on the domestic marketlow
The group's activity is focused mainly on the domestic market, which could expose results to local economic conditions 1.
Investment thesis
What would need to be true (bull case)
- If investment in new equipment lowers unit production cost, margins could recover, and lower financing costs would support net results 1.
- Improved profitability and a stronger equity base at the subsidiary EPSH A.B.E.E. could provide a stable foundation for the group 1.
- Long experience in high-specification production and an efficiency focus could support competitiveness over the long term 1.
What would break the thesis
- The revenue decline in 2025 could signal weaker demand, limiting growth and making current profitability harder to sustain 1.
- High raw material and energy costs could compress margins if they cannot be passed on or offset through efficiency 1.
- A small structure and the absence of formalised ESG indicators could limit the ability to respond quickly to regulatory and market pressure 1.
What to watch
- Trend in group and company revenue against the prior year2026
- Effect of new equipment investment on unit production cost2026
- Raw material and energy price trends in production costsnext annual report
- Introduction of ESG indicators in executive remuneration, planned for 20262026
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 Ε. ΠΑΪΡΗΣ group operates as an industry with active high-technical-specification production in plastic materials and, per the annual report for 2025, employed 98 people at 31 December 2025 1. It operates through a fully consolidated subsidiary, EPSH A.B.E.E., and has no branches 1. Management says it aims to sustain stable profitability through careful financial management and efficient use of production factors 1.
Financing structure was adjusted in 2025: financing costs fell as borrowing rates and debt declined, and the group manages a mix of short-term and long-term financing instruments 1. The group does not trade financial derivatives 1.
The company's environmental policy covers material recycling, limiting emissions from production infrastructure and rational energy use, and it reports emissions annually under the Greek Climate Law 4936/2022 1.
Segments
Plastic materials production
The core segment is industrial production of high-technical-specification plastic articles, and raw material, transport and energy costs directly influence segment margins 1.
Subsidiary EPSH A.B.E.E.
The consolidated subsidiary EPSH A.B.E.E. continued to improve profitability and strengthened its equity in fiscal 2025, contributing to group results 1.
Market context
The annual report describes a setting in which raw material, transport and energy prices stayed high in 2025 and into the current period, pressuring production costs across the industrial sector 1.
The company's reference market is mainly domestic, where the group has consolidated its position in recent years, while European and Greek climate and emissions-reduction legislation shapes industrial planning 1.
Trends
- High energy and raw material costsheadwind
Raw material, transport and energy prices remained elevated, which could compress margins unless offset by operating efficiency 1.
- Lower financing coststailwind
Lower borrowing rates and reduced debt cut financing costs in 2025, a factor that supports net results if the trend holds 1.
- Climate and emissions policymixed
European and national rules on greenhouse gas reduction require adaptation and annual reporting, which can add compliance costs but also open investment opportunities in more efficient technology 1.
- Investment in new equipmenttailwind
Management plans targeted investment in fixed assets, especially modernising machinery, to lower unit production cost and raise competitiveness, which could support margins over the medium term 1.
Competitive position
The available sources do not explicitly name the company's competitors. Competition in plastic materials is nonetheless shaped by raw material costs, production efficiency and the ability to invest in technology, factors management cites in the annual report 1.
The group's declared competitive edge rests on long experience in high-specification production, its workforce and equipment modernisation, which are meant to support competitiveness against other producers 1.
- Local Greek plastic materials producers
Sources do not name specific competitors; domestic producers are referenced only as a peer group.
- European plastic article manufacturers
European competition is implicit in the annual report, without names given in the source.
- Industrial plastic materials suppliers
The source does not identify listed competitors; no US ticker can be confirmed.
- Plastic packaging producers
Implicit peer group mentioned; sources give no further detail on these competitors.
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 / Ε. ΠΑΪΡΗΣ ΑΝΩΝΥΜΟΣ ΒΙΟΜΗΧΑΝΙΚΗ ΚΑΙ ΕΜΠΟΡΙΚΗ ΕΤΑΙΡΕΙΑ ΠΛΑΣΤΙΚΩΝ · 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.