Kyriakoulis: Loss reduction to 9 months

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KYRIAKOULIS MEDITERRANEAN SHIPPING CRUISES SA announces that

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Kyriakoulis recorded a decrease in revenues at group level, with an increase at the parent company level on an annual basis in the 9 months of 2021, while at the same time it reduced the level of losses after taxes compared to the corresponding period of 2020.

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GROUP

COMPANY

1/1-30/09/2021

1/1-30/09/2020

1/7-30/9/2021

1/7-30/9/2020

1/1-30/09/2021

1/1-30/09/2020

1/7-30/9/2021

1/7-30/9/2020

Sales Revenue

19.225.926

23.052.560

5.292.980

7.031.578

3.551.974

2.123.804

2.854.961

1.960.320

Earnings / (Losses) before taxes and interest (EBIT)

(257.961)

(3.079.976)

1.870.961

1.704.352

190.815

(671.970)

106.354

1.116.781

Earnings / (Losses) before interest and depreciation taxes (EBIDTA)

969.285

(1.896.058)

2.292.915

2.110.721

1.288.372

401.916

802.804

1.494.217

Profit / (Loss) after taxes

(607.360)

(3.346.180)

1.767.210

1.596.460

(162.560)

(935.074)

1.067.382

1.007.365

Profits / (Losses) after taxes attributed to the shareholders of the Parent Company

(617.245)

(3.338.870)

1.763.248

1.600.574

(162.560)

(935.074)

1.067.382

1.007.365

The following table shows the following:

The Sales revenue of the third quarter 2021 for KYRIAKOULIS MEDITERRANEAN CRUISES SHIPPING SA (Mother) showed an increase of € 894,641 or 45.64% compared to the comparable period, while cumulatively the Sales Revenues for the period 1 / 1-30 / 9/2021 showed an increase of € 1,428,170 or 67.25% compared to the comparable period.

The Sales revenue of the third quarter 2021 for Group showed a decrease of € 1,738,589 or 24.73% compared to the comparable period, while cumulatively the Sales Revenues for the period 1 / 1-30 / 9/2021 showed a decrease of € 3,826,634 or 16.60% compared to the comparable period.

In the third quarter of 2021 h Mother made profits after taxes, increased by € 60,017 or 5.96% compared to those of the comparable period of 2020, while cumulatively in the period 1 / 1-30 / 9/2021 realized losses after taxes, reduced by € 772,514 or 82 , 62% compared to the comparable period.

In the third quarter 2021 o Group made profits after taxes, increased by € 170,751 or 10.70% compared to those of the comparable period of 2020, while cumulatively in the period 1 / 1-30 / 9/2021 realized losses after taxes, reduced by € 2,738,820 or 81.85% compared to the comparable period.

In the third quarter 2021 o Group made profits after taxes due to the owners of the Parent Company, increased by € 162,674 or 10.16% compared to those of the comparable period of 2020, while cumulatively in the period 1 / 1-30 / 9/2021 made losses after taxes that are attributable to the owners of the Parent Company, reduced by € 2,721,625 or 81.51% compared to the comparable period.

It is noted that the Parent Company and the Group during the first half of 2021 and 2020 had no income and expenses from discontinued operations or additional total income.

Selected figures of the Financial Position at 30/9/2021 and their comparators are listed:

SELECTED FINANCIAL STATEMENT ELEMENTS

CLUB

COMPANY

30/9/2021

31/12/2020

30/9/2021

31/12/2020

Total Equity of Parent Owners

14.214.160

14.831.405

21.576.470

21.576.470

Total Equity Total

14.255.959

14.863.319

21.576.470

20.508.294

Non-current Loan Liabilities

7.414.257

6.637.624

5.374.570

5.087.624

Current Loan Liabilities

1.759.358

1.323.870

1.337.856

1.322.316

Total Lending

9.173.615

7.961.494

6.712.426

6.409.940

The following table shows the following:

The Parent Position of the Parent decreased by € 162,558 or 0.79% compared to that of 31/12/2020.

The Total Equity of Parent Owners decreased by € 607,360 or 4.08% compared to that of 31/12/2020.

On 30/9/2021 the loans of the Parent constitute 16.84% of the total equity and liabilities. In terms of maturity, they consist of 18.35% of loans with a repayment period of less than or equal to one year, 70.16% of loans with a repayment period of between one and five years and 11.49% of loans with a repayment period of more than of five years.

During the third quarter of 2021, the Parent did not collect funds from borrowing, while it repaid loans by paying € 404,060. During the first half of 2021, the Parent Company received funds from borrowing € 2,274,400, while it repaid loans by paying € 1,083,058.

On 30/9/2021 the loans of the Group constitute 16.79% of the total equity and liabilities. In terms of maturity, they consist of 19.18% of loans with a repayment period of less than or equal to one year, 74.53% of loans with a repayment period of between one and five years and 6.29% of loans with a repayment period of more than of five years.

During the third quarter of 2021, the Group did not receive funds from borrowing, while it repaid loans by paying € 405,691. During the first half of 2021, the Group received funds from borrowings of € 2,274,400, while it repaid loans by paying € 1,084,688.

Effects of the pandemic caused by COVID-19 disease

During the first nine months of 2021, as well as during the corresponding period of 2020, the Group operated under conditions of health crisis, which was caused by COVID-19 disease. In order to limit the spread of this disease, almost all countries of the world, including Greece, imposed measures to limit the intra-border and cross-border movement of people by simultaneously reducing or suspending part of productive activities. The measures were stricter during the first five months of 2021, while from June onwards they eased. The social and economic conditions that were formed had a negative impact on the revenues of all the operational sectors of the Group. They adversely affected the speed of receivables, which led to increased expected credit losses compared to those of pre-coronary uses. Taking into account the above and the financial data of the first half of 2021, losses after taxes on individual and consolidated level are expected for the 12 months of 2021, significantly reduced compared to those of the 12 months of 2020. It is noted that the Parent and its subsidiaries utilize all the means available to protect the health of human resources and their customers, the adjustment of their expenditures to the respective income levels, the best possible management of their cash and the raising of external funds. However, the return of the Group’s financial performance to pre-pandemic levels is subject to uncertainties that mainly concern the course of the health crisis, such as population vaccination rates and the occurrence of SARS-CoV-2 coronavirus mutations.

Its effects Energy Crisis

The effect of energy supply costs on the financial figures of the Group is considered negligible. The energy consumption of the consolidated companies mainly concerns the electrification of office buildings, vehicle parking building and port facilities, while a small part of it concerns the electrification of yachts during their mooring. The following table shows the electricity consumption expenses for the period 1/1 / 2021-30 / 9/2021 as a percentage of sales revenue for this period, for those companies that have the largest contribution to the consolidated sales revenue:

1/1/2021-30/9/2021

KYRIAKOULIS MEDITERRANEAN CRUISES SE

KALAMATA MARINA SOLE SHAREHOLD TOURISM SA

KYRIAKOULIS MARINES SA

SARL KIRIACOULIS FRANCE (Group) *

Sales revenue

3.551.974

453.279

131.217

16.763.624

Electricity

16.140

28.608

2.412

1.548

% of sales revenue

0,45

6,31

1,84

0,01

* Includes SARL KIRIACOULIS FRANCE companies, SARL VENT PORTANT, SARL KIRIACOULIS POINT D’AMURE and SCI DU DONATOR.

It is emphasized that all the facilities of the Group use, for their internal and external lighting, lamps of low energy consumption, while at the same time special emphasis is given to the rational (depending on the climatic conditions) temperature regulation during the use of the air conditioners.

Source From: Capital

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