Internal loan to Olympic Brewery by her mother

Internal lending is the support requested by her parent, Breweries A/S, as reported in circles of the company at newsit.gr. The reason for the letter of support (Letter of Support), received by Olympic Brewery from her mother on September 17 of this year, which says Carlsberg will financially support the company for its obligations and commitments for at least one year. Specifically, yesterday’s (31.10.2024) post on the General Commercial Register (GEMI) for the financial statements of 2023 refers to: “The company continues to have financial support from the Carlsberg AS parent group to be able to address any needs likely to arise in the next 12 months from the disclosure of financial statements”. This support is needed, as Olympic Brewery has borrowed 11m euros from banking institutions, while its total short-term liabilities exceed all short-term requirements by EUR 48.3 million. The company’s borrowing from Carlsberg Group, according to the same sources, is not a working capital, but aims to develop the company and achieve new investments.