The turnover of ELVE SA fell 17.6% in the first nine months of 2021, while pre-tax profits fell by 19.8% compared to the corresponding period last year, as announced today by the listed company.
In detail, ELVE SA, following a letter from the Hellenic Capital Market Commission with protocol number 2596 / 09.11.2021, which was notified to all listed companies in the regulated market of the Athens Stock Exchange, informs the investing public about the progress of its operations as follows:
Basic financial figures:
| Group (amounts in thousand euros) | One month 2021 | One month 2020 | % change | Third Quarter 2021 | Third Quarter 2020 | % change | ||||||
|
Operations’ Circle |
21.799 |
26.468 |
-17,6% |
7.864 |
11.018 |
-28,6% |
||||||
|
Earnings before taxes, interest, investment results and depreciation |
3.780 |
4.938 |
-23,4% |
661 |
1.680 |
-60,6% |
||||||
|
Earnings before interest taxes and investment results |
2.271 |
3.310 |
-31,4% |
132 |
1.224 |
-89,2% |
||||||
|
Earnings before taxes and interest |
2.534 |
3.087 |
-17,9% |
177 |
1.286 |
-86,2% |
||||||
|
profit before tax |
2.261 |
2.819 |
-19,8% |
66 |
1.181 |
-94,4% |
||||||
|
Company
(amounts in thousand euros) |
One month 2021 | One month 2020 | % change | Third Quarter 2021 | Third Quarter 2020 | % change | ||||||
|
Operations’ Circle |
9.197 |
11.811 |
-22,1% |
2.775 |
5.660 |
-51,0% |
||||||
|
Earnings before taxes, interest, investment results and depreciation |
2.322 |
3.508 |
-33,8% |
343 |
1.449 |
-76,4% |
||||||
|
Earnings before interest taxes and investment results |
1.860 |
3.267 |
-43,1% |
191 |
1.521 |
-87,4% |
||||||
|
Earnings before taxes and interest |
2.124 |
2.818 |
-24,6% |
239 |
1.317 |
-81,9% |
||||||
|
profit before tax |
2.106 |
2.801 |
-24,8% |
229 |
1.322 |
-82,7% |
The one-month turnover of the Company shows a decrease due to fewer executed contracts (in work uniforms) compared to the corresponding period last year. This decline also led to a decline in results for the Company. At Group level there is also a drop in sales, which is due to the pandemic, as the subsidiary LITO SA. operates in the retail market.
The total net debt (ie loans less available) of the Group on 30/9/2021 amounted to 1.21 million euros and the company to -0.85 million euros, as the Company had no loans other than cash amounting to 850 thousand . euro. At the same time, the Company maintained on 30/9/2021 positions in negotiable securities (mutual funds and bonds) worth 3.91 million euros for which there is a possibility of immediate liquidation.
| Group (amounts in thousand euros) | 30/9/2021 | 30/6/2021 | ||
|
Loans |
2.680 |
2.727 |
||
|
Less cash |
-1.465 |
-2.627 |
||
|
Net borrowing |
1.215 |
100 |
||
|
Company
|
30/9/2021 | 30/6/2021 | ||
|
Loans |
0 |
0 |
||
|
Less cash |
-854 |
-1.593 |
||
|
Net borrowing |
-854 |
-1.593 |
||
At the Company level, in the last quarter delays are expected in deliveries of goods from abroad, resulting in the postponement of some deliveries of the Company to its customers in the new year. The rate of decline in sales on an annual basis is expected to fluctuate at one-month levels.
At Group level, the last quarter is expected to be negatively affected, as retail is under pressure due to the pandemic, but also the expected increase in energy costs, which ultimately affects consumption.
Source From: Capital
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