Ideal Group: Pro forma sales of 51.9 million euros in the nine months – EBITDA at 9.9 million

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The Ideal Group presented a strong increase in its financial figures in the first nine months of 2021.

In particular, the group’s sales in the first nine months of this year amounted to 36.20 million euros compared to 15.54 million euros in the corresponding period last year, with EBITDA increasing to 5.76 million euros compared to 1 million euros in the nine months of 2020 .

The size of the Group also recorded a strong increase in the third quarter of the year, with sales amounting to 18.14 million euros from 4.89 million euros in the quarter of the previous year and EBITDA reaching 4.02 million compared to 228 thousand euros in the corresponding period last year.

The above mentioned performance includes the financial performance of the contributing companies SICC HOLDING LIMITED and ESM EFFERVESCENT SODAS MANAGEMENT LIMITED only for the period following the approval by the General Meeting of the Company of their contribution through share capital increase from 17.09 to 20.09.09.09.09.06. .2021.

Below are the consolidated financial performance (pro forma) for the period 01.01 – 30.09.2021 as they would have been formed if the share capital increase had taken place at the beginning of the year, ie on 01.01.2021 as well as the results of last year 01.01 – 30.09.2020 in which for comparability purposes have included the financial results of the contributing companies.

Thus, the pro forma sales of the Ideal Group in the nine months amounted to 51.81 million euros from 37.06 million euros in the corresponding period of the previous year. The pro forma EBITDA amounted to 9.90 million euros compared to 6.44 million euros in the first nine months of 2020.

During the third quarter of 2021 there were no other significant changes in the other figures of the Financial Position of the Ideal Group.

Impact of the covid-19 pandemic and the energy crisis

Despite the fact that the spread of the Covid-19 pandemic has led to significant financial burdens with unpredictable consequences not only for Greece but also for the global economy, the course of the Ideal Group so far in 2021 highlights the upward development of its activities with result in an increase in EBITDA profitability by 54% at pro forma level in the first nine months of 2021 compared to the corresponding period last year.

The goals that have been set for the Ideal Group for the whole year 2021 are expected to be achieved based on the data so far as the Management of the Group takes all measures for the protection and safety of its employees in accordance with the current government and health measures. , as well as measures to ensure the continuous and uninterrupted business and operational operation of its companies.

The extent of the effects of the pandemic and the energy crisis on the activities of the Ideal Group in the coming period and specifically until the end of 2021, will depend on future developments and the measures that may be taken in Greece and in the international environment. The management constantly monitors the developments, evaluates the risks and takes where necessary the necessary actions in order to minimize any impact on the financial results of the Ideal Group.

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Source From: Capital

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