Cynergy announced that the adjusted EBITDA for the third quarter of 2021 amounted to 34.4 million euros, 5 million euros higher than the previous quarter, with the difference due to the steel pipe sector. The corresponding amount for the nine months of 2021 amounted to 82 million euros, 14% higher on an annual basis (nine months 2020: 72 million euros), confirming the growth prospects of the Group.
At the same time, the unfulfilled balance of orders reached record levels on September 30, 2021, exceeding 800 million euros (December 31, 2020: 500 million euros).
Meanwhile, it recorded strong sales that reached 766 million euros, 21% higher compared to the corresponding period last year (9 months 2020: 635 million euros).
It also recorded consolidated pre-tax profits of € 35.2 million, compared to € 24.2 million for the first nine months of 2020.
Commenting on the performance of the Group, Mr. Alexis Alexiou, CEO of Cenergy Holdings stated:
“The strong performance of the third quarter of 2021 confirms our ability to provide effective solutions to our customers in all our areas of business. We continue to benefit from the transition to green energy. We are successfully implementing initiatives to increase efficiency and streamline The cable industry continues to drive the Group’s profitability, but Corinth Pipeworks returned to full production and operating profitability during the third quarter. Recent assignments of the Santorini-Naxos power interconnection in Greece, an HFW pipeline in the Norwegian North Sea on behalf of Aker BP and the first submarine project with Vattenfall in Denmark are just a few examples of successful bids during the being our commitment to high value-added products.
Finally, the recent agreement between the EU and the US on paragraph 232 tariffs means that our products will again be competitive in the US market where they will be judged solely by their high quality and emphasis on the service we traditionally offer. to our customers in the US “.
It is noted that the relevant presentation and information to investors and analysts will take place via video conference on Friday, November 19, 2021 at 13:00 Greek time
You can see the details of the nine-month and third quarter 2021 results of Cynergy in the attached files in the right column “Related Files”.
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Source From: Capital
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