Kepenou Mills: Increase in sales in the nine months, EBITDA fell

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KEPENOU MILLS records an increase in sales in the nine months of 2021, to 32.48 million euros from 25.74 million euros in the corresponding period last year, with EBITDA being 1.94 million from 2.19 million euros a year earlier.

In detail, as the company states in a relevant announcement, the company MILLS KEPENOU SA with no. Γ.Ε.ΜΗ. 036116616000, following a letter from the Hellenic Capital Market Commission with protocol number 2596 / 09.11.2021 which was notified to all issuers with securities listed for trading on the regulated market of the Athens Stock Exchange, informs the investing public about the basic financial figures of C ΄ 2021 as well as the developments in its activity:

The sales amounted to euro 12.97 million during the DG quarter 2021 and euro 32.48 million for the period 01.01.2021-30.09.2021 against euro 9.18 million and euro 25.74 million during the respective periods of Use 2020.

The Earnings before taxes, financial, investment results and depreciation (EBITDA), amounted to euro 0.83 million during the DG quarter 2021 and euro 1.94 million for the period 01.01.2021-30.09.2021 against euro 0.93 million and euro 2.19 million during the respective periods of the year 2020.

Profits before taxes and interest (EBIT) amounted to euro 0.56 million during the DG quarter 2021 and euro 1.13 million for the period 01.01.2021-30.09.2021 against euro 0.69 million and euro 1.47 million during the respective periods of Use 2020.

The net debt of the Company on 30.09.2021 amounted to euro 20.52 million increased by euro 5.3 million in the DG quarter 2021. The Company’s equity on 30.09.2021 amounted to euro 19.06 million and EUR 20.58 million on 30.06.2021.

  1. 1. Basic Results of Results

01.01.2021-30.09.2021

01.01.2020-30.09.2020

01.07.2021-30.09.2021

01.07.2020-30.09.2020

Amounts in thousands of euros

Sales

32.477

25.739

12.974

9.181

Earnings before interest, taxes, depreciation and amortization (EBITDA)

1.941

2.188

833

930

Earnings before interest and taxes (EBIT)

1.134

1.470

558

686

  1. 2. Financial Position Statement

30.09.2021

30.06.2021

Amounts in thousands of euros

Non-current assets

18.482

18.301

Other current assets

30.817

26.831

Cash and cash equivalents

5.743

1.057

Total assets

55.042

46.190

Total equity

19.055

20.578

Long-term responsibilities

26.424

21.650

Current Liabilities

9.563

3.961

Total liabilities

35.987

25.611

Total Equity and Liabilities

55.042

46.190

Net Borrowing

20.519

15.204

  1. 3. Important information on the effects of the energy crisis and the spread of Covid-19

The significant burden of energy costs due to the global energy crisis, the rise in prices of raw materials and the increase in transportation costs (fare) have affected the variable costs in general, as reflected in the Company’s EBITDA.

In particular, sales increased by 41.32% in the third quarter of 2021 and by 26.18% in the period 01.01.2021-30.09.2021, compared to the corresponding period of the previous year, while EBITDA decreased by 10.42 % and 11.28% respectively.

The Company’s net debt increased by 5.3 million euros in the third quarter of 2021 in order to cover the increased needs for working capital.

In addition, by decision of the General Meeting of Shareholders of 16.07.2021, in the third quarter of 2021 the Company distributed a dividend of euro 1.8 million.

The coronavirus pandemic (COVID-19) continues to affect global and Greek economic activity, but the Company, due to the nature of its activity, has not undergone a significant change in its financial figures as a result of the pandemic.

The Company, with a high sense of responsibility, continues to closely monitor developments related to the spread of the pandemic and has prepared precautionary measures and actions in order to ensure its smooth business operation, as well as the safety of its employees. In particular, the Company has enacted precautionary measures, in accordance with the rules and guidelines of the government and the WHO.

The Management of the Company makes every effort to manage the aforementioned developments, in order to reduce the negative consequences on its financial figures. In any case, based on current data, the Company’s Management estimates that, by the end of this year 2021, its financial figures will not be significantly affected as a result of the pandemic and the energy crisis.

Source From: Capital

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