Akritas: 56% increase in nine-month turnover – EBITDA at 2.9 million

AKRITAS presented a significant improvement in its financial figures in both the nine months and the third quarter of the current year.

In particular, the company’s turnover amounted to 26.3 million euros compared to 16.8 million euros in the previous period, showing an increase of 56%, while at a quarterly level it amounted to 9.4 million euros, increased by 47% compared to with last year quarter.

In the same direction, the increased productivity combined with the successful implementation of the company’s marketing strategy have almost doubled the Gross Margin of Profit to the level of 12.3%, while the profits before taxes of financial & investment results & depreciation (EBITDA) rose to 9 months. of 2021 to 2.9 million euros compared to 448 thousand euros in the previous period.

After the gradual lifting of the restrictive measures, in the third quarter of 2021 the complete restart of all the activities of the Greek economy took place, assisted by a smooth for the given tourist period. The company, despite the climate of uncertainty due to the gradual recovery of the pandemic and the general problems in the global supply chain with inflationary pressures and restrictions on the availability of raw materials, but also the recent energy crisis that has led to a tripling of wholesale current year, continues its dynamic course.

The total borrowing of AKRITAS for the 9 months of 2021 did not show a significant change compared to the Semi-Annual Period of 2021, while the Capital Structure remains unchanged. In November 2021, AKRITAS received a positive outcome, the pending subsidy of the employer costs 2010-2015 by OAED through JM 47284/359, resulting in the offset of 4.9 million euros against confirmed and regulated receivables of the company to the Tax and Insurance Administration.

Estimates for the whole year

The Management of the company systematically monitors the developments and constantly elaborates various alternative scenarios, in order to be ready to respond to the challenges that exist both from the recovery of the pandemic and the rationalization of its supply chain. The climate of uncertainty is exacerbated by the energy crisis and the dizzying rise in energy costs, especially in the last 3 months, which creates an additional cycle of inflationary pressures and increases across the economy, while these conditions are not expected to normalize in the short term. space.

The Management of the company, as far as it is possible to predict something with any reservation, estimates that no particular problems are expected in the supply of raw materials from abroad in the next period, while the turnover for the whole year is not expected to significantly differentiated from the trend formed in the 9 months of the year for the whole of 2021.

In terms of operating profitability, the trend remains positive, but in the event that energy costs do not escalate immediately, the company’s results are expected to be adversely affected.