AS Company announced improved results for the third quarter and nine months. In particular, the critical financial figures of the Group and the Company in the nine months of 2021 were as follows:
The consolidated turnover for the Group amounted to 12.909 million euros against 12.348 million euros, recording an increase of + 4.6%. In the third quarter of 2021, consolidated sales increased + 25.6% compared to last year (in absolute terms +1.114 million euros) and EBIDTA increased + 62.2% (in absolute terms 0.573 million euros) as a result of gradual return of the market to normalcy.
The main financial figures showed a significant improvement compared to the corresponding period last year, in particular the consolidated sales for the nine months increased by + 4.6% (-6.9% in the first half) and amounted to 12.9 million euros while EBIDTA increased + 35.3% (+ 2.16% in the first half) and amounted to 2.5 million euros.
Consolidated earnings before taxes amounted to 2.671 million euros compared to 1.298 million euros in the corresponding period, an increase of + 105.7%, with financial revenues having a significant contribution to improving overall profitability (+0.584 million euros).
Cash and investments in immediately liquid assets were as follows:
Bank lending does not exist at the end of the nine months 2021 for the Group and the Company, a fact that certifies the healthy financial situation.
The comparative data for working capital (Stock and Customer Receivables – Trade Liabilities) were as follows:
The gross profit of consolidated sales was at almost the same level as in the same period last year, despite the significant increase in transport costs which increased the cost of purchasing goods, which was offset by the positive effect of the EUR / USD exchange rate. The company makes a very significant part of its imports originating in China which are priced in USD (USD).
The impact of the pandemic had a negative impact on the financial results of the first half of 2021 when the Group showed a decrease in sales – 6.9%. Regarding the second half of 2021, the effects of the energy crisis and the pandemic are estimated to have a small impact on the financial results of the Group, but the Management has reservations about the negative financial effects that will cause a possible worsening of either the energy crisis or the pandemic. .
Management estimates that until the end of the current year there is no uncertainty regarding the continuation of the activity, sales and supply chain of both the Company and the other entities belonging to the Group. The Company has strong liquidity, available bank financing limits while there is no precarious risk to date
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Source From: Capital
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