In particular, in the nine months the turnover amounted to 16.04 million euros compared to 13.51 million euros in the corresponding period last year, with EBITDA reaching 588 thousand euros compared to losses of 178 thousand euros in the nine months last year. In terms of final results, the company showed a profit of 100 thousand euros in the nine months against a loss of 398 thousand euros in the nine months of 2020.
In terms of the quarter, Intertech’s turnover amounted to 5.19 million euros from 4.72 million euros in the corresponding quarter of 2020, EBITDA amounted to 201 thousand euros against losses of 40 thousand euros, while Profit before taxes increased to 27 thousand euros from losses of 207 thousand euros in the third quarter of last year.
The company states that there were no significant changes in the loan and capital structure of the company during the quarter 2021, nor were there any unusual changes in the amount of the Statement of Financial Position.
The effects of the energy crisis and COVID19
The company notes that as we move through the Fourth Quarter of 2021, the global economy is still facing the critical side effects of the pandemic.
Inflationary pressures and the energy crisis are already directly affecting the operation of the company. Due to the reduced supply from the factories of the suppliers, there are significant time delays in the receipt of goods, shortages of items, increase in production and transportation costs, resulting in the squeezing of the profit margin. Despite the current market conditions, in the DG quarter the Company maintained the positive course that started from the beginning of the fiscal year 2021, achieving a 19% increase in sales, compared to the 9 months of 2020.
The company addresses shortages and price increases with immediate adjustment moves, flexibly implementing any alternatives deemed more appropriate. The transfer of the increased costs to the selling prices of the goods is implemented gradually and will be determined by the elasticity of demand in the near future. At the same time, as the investing public has already been informed with the company announcements, INTERTEK SA has invested in new strategic partnerships in the telephony and communication solutions industry with Alcatel-Lucent SA, Yeastar Information Technology Co., Ltd.
For the last quarter of 2021 the continuing shortage of products is expected to further affect market conditions and maintain the growth rate of turnover (possibly the company’s profitability) and even in a period when there is usually increased demand due to its offers Black Friday and the festive season of December.
The management of the company – taking into account the above – estimates that at the end of the year the increase in turnover compared to 2020 (at a rate of over 16%) will be maintained and the company’s sales target for the year 2021 will be achieved.
Source From: Capital
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