Despite the increase in sales, the EBITDA and the pre-tax profits of the Evrofarma Group fell in the nine months of the year due to the significant increases in the prices of packaging materials, the increased price of energy, the increased price of fresh sheep and goat milk, as well as the increased transportation costs.
More specifically, the consolidated sales of the Group amounted to € 10,285 thousand during the DG quarter of 2021 and to € 27,871 thousand during the period 01.01.2021 – 30.09.2021, against € 8,950 thousand and € 24,625 thousand respectively. periods of the year 2020, showing a change of 15% and 13% respectively.
The consolidated results of the Group before taxes and interest (EBIT) amounted to losses of € 146 thousand during the DG quarter and to profits of € 908 thousand during the period 01.01.2021 – 30.09.2021 against € 413 thousand and € 1,364 thousand. corresponding period for the year 2020, showing a change of -135% and -33% respectively.
The consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group amounted to € 142 thousand during the DG quarter of 2021 and to € 1,758 thousand during the period 01.01.2021 – 30.09.2021 against € 719 thousand and € 2,173 thousand during the respective periods of the fiscal year 2020, showing a change of -80% and -19% respectively.
The consolidated results before taxes of the Group during the DG quarter of 2021 amounted to losses of € 342 thousand and profits of € 310 thousand for the period 01.01.2021 – 30.09.2021 against profits of € 392 thousand and € 821 thousand of corresponding periods of 2020, showing a change of -187% and -62% respectively.
The borrowing of the Eurofarma Group on 30/09/2021 was € 21.830 million compared to € 19.99 million on 31/12/2020. The cash resources of the Eurofarma Group on 30/09/2021 were € 1.42 million compared to € 3.11 million on 31/12/2020.
The equity of the Eurofarma Group on 30/09/2021 amounted to € 13.11 million compared to 12.95 million on 31/12/2020.
Despite the increase in sales in the nine months of 2021 and the third quarter of 2021, the operating result was compressed by the significant increases in the prices of packaging materials, the increased price of energy, the increased price of fresh imported sheep and goat milk, as well as the increased transportation costs.
It is further noted that throughout 2021, the Group financed the implementation of the investment plan, while at the same time providing advances to support and enhance sheep and goat milk producers. In this context, an increase in net borrowing was recorded.
Based on the data so far, for the rest of the fiscal year 2021, the Management is cautious due to the ongoing price increases in energy costs, packaging materials and raw materials. To the extent that price increases will be achieved, a gradual normalization of our results is expected.
At the same time, the Management of the company, continues and effectively manages the pandemic crisis due to COVID-19, through the correct and regular information of the employees regarding the prevention and protection measures and the observance of the hygiene and safety rules.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
