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Cyprus Industrial Production Index Sees Steady Growth in June 2025 Amid Sectoral Shifts

by THEFUTURE.TEAM

August 29, 2025

Overview Of June 2025 Performance

According to the latest data from the Cyprus Statistical Service, the Industrial Production Index reached 115.9 units in June 2025, using 2021 as the base year. This figure represents a 0.8% annual increase over June 2024, while the first half of 2025 has recorded a cumulative rise of 3% when compared to the same period last year. The index, which is benchmarked against the average monthly production of 2021, indicates that production levels in June 2025 were 15.9% above the reference level.

Sectoral Shifts And Growth Dynamics

The manufacturing industry was a key contributor to this growth, registering a 4% increase over the previous year. Notably, the production of other non-metallic mineral products surged by 12.9%, while rubber and plastic products, as well as electronic and optical products alongside electrical equipment, climbed by 10.5% and 8.7% respectively. Wood and cork products, excluding furniture, also experienced solid gains of 8.3%.

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Conversely, sectors like textiles, wearing apparel, and leather products, as well as paper and paper products including printing, faced notable declines, each falling by 9.4%. The electricity supply sector was not immune, suffering a significant drop of 18.2%.

Extended Trends Through The First Half Of 2025

Analyzed from January to June 2025, manufacturing segments such as electronic and optical products, and electrical equipment, led the recovery with a 12.7% increase, while water collection, treatment, and supply grew by 9.6%. Additionally, sectors like other non-metallic mineral products, mining and quarrying, and wood and cork products continued to expand with gains of 9.0%, 8.2%, and 7.8% respectively.

However, certain sectors exhibited deceleration. Manufacturing segments related to paper products and textiles, as well as activities in refined petroleum products, chemicals, chemical products, and pharmaceuticals, experienced subtle declines ranging from 1.3% to 13.5%. Furthermore, machinery and equipment, motor vehicles, and other transport equipment dropped by 1%, rounding out a mixed picture of sectoral performance.

Conclusion

The June 2025 figures underscore a landscape of steady overall growth in Cyprus’s industrial production, coupled with divergent trends across sectors. While manufacturing continues to drive expansion, notable contrasts in performance highlight the complex interplay of market forces within diverse industries. Decision-makers and industry observers will be closely monitoring these shifts as they inform strategic planning in an evolving economic environment.

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Eurobank Approves €258.7M Dividend And €288M Share Buyback

by THEFUTURE.TEAM

April 29, 2026

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

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Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.