B&F: Significant increase in revenue and profits in the nine months

“B&F Garments” recorded a significant increase in revenue and even higher profits on an annual basis in the first nine months of 2021.

In detail, based on the data announced by the company:

“Consolidated Sales amounted to Euro 24.19 million during the third quarter of 2021 and Euro 55.49 million for the period 01.01.2021-30.09.2021, compared to Euro 19.03 million and Euro 44.16 million. during the respective periods of the fiscal year 2020, ie an increase of 27.1% and 25.7% respectively.

The consolidated Earnings before Taxes, Financial, Investment Results and Depreciation (EBITDA) amounted to Euro 9.31 million in the third quarter of 2021 and Euro 20.02 million for the period 01.01.2021-30.09.2021 against Euro 2, 74 million and Euro 8.72 million during the respective periods of the fiscal year 2020.

Consolidated Earnings before Taxes and Interest (EBIT) amounted to Euro 6.78 million in the third quarter of 2021 and Euro 12.12 million for the period 01.01.2021-30.09.2021 against Euro 0.39 million and Euro 1.30 million during the respective periods of the fiscal year 2020. The consolidated Profits after taxes amounted to Euro 4.93 million during the third quarter of 2021 and Euro 8.01 million for the period 01.01.2021-30.09.2021 against gains of Euro 0.13 million during the third quarter of 2020, while losses of Euro 0.63 million arose for the period 01.01.2020-30.09.2020.

The Company continues to take all necessary measures regarding the prevention of pandemic risks and the maintenance of a safe working environment with a view to limiting the transmission of the coronavirus as well as the safety of its employees.

In this way, the effective protection of the health and safety of the employees is achieved, while at the same time, the smooth operation and the business continuity of the Company are ensured. The impact of the pandemic had a negative impact on the financial results of the first half of 2021, but a smaller impact than the financial results of the first half of 2020, with the result that the Group increased its turnover by 24.56%.

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 Company, but the Management has reservations about the negative financial effects that will cause a possible worsening of either the energy crisis or the pandemic. by the end of the year. In particular, the energy cost for the operation of the Company’s stores and headquarters is affected by the large increases observed internationally, but is a relatively small part of the Company’s operating costs.

Also, the problems that are observed internationally in the 10th km ATHENS – LAMIA NATIONAL ROAD – 143 42 N. PHILADELPHIA, ATHENS – GREECE TEL: (+30) 210 2509000 – FAX: (+30) 210 2510311 • e-mail: info @ bsbfashion .com supply chain, in terms of the cost of shipping goods from overseas suppliers, is now increased, but these increases are limited to the stocks of the current season and, more generally, the results of the year 2021. However, the Company Management , makes every effort to manage the aforementioned developments and to limit any adverse effects on its financial results.

The Management of the Company monitors on a daily basis the evolution of revenues and aims to ensure the necessary liquidity, to raise and maintain sufficient working capital, in order to be able to fulfill its current and future obligations on time. The cash of the Group amounts to 30.9.2021 in Euro 16.99 million against Euro 7.84 million on 31.12.2020. During the third quarter of 2021, the Group did not proceed to new borrowing, as it will not proceed to new borrowing until the end of 2021, a fact that certifies its sound financial situation. There was no significant change in the other figures of the statement of financial position during the third quarter of the fiscal year 2021.

Management, moving in this context of emergencies and constantly changing situations, works on a daily basis a) to protect the health and safety of employees and customers, b) to ensure the business continuity of the Group and c) to reduction of operating costs and the strengthening of the financial position and liquidity of the Group. The Management estimates that there is no uncertainty until the end of the current year regarding the continuation of the activity, sales and supply chain, both of the Company and the other entities that belong to the Group. The Company has strong liquidity, available bank financing limits, while there is no risk of precariousness to date “.