Lavipharm recorded increased sales, but also EBITDA on an annual basis in the first nine months of 2021.
Consolidated Sales amounted to Euro 8.86 million in the third quarter of 2021 and Euro 28.42 million for the period 01.01.2021-30.09.2021 against Euro 9.13 million and Euro 27.39 million in corresponding periods of the fiscal year 2020, showing a decrease of 2.93% and an increase of 3.76% respectively.
Lavipharm Consolidated Earnings before Taxes, Financial, Investment Results and Depreciation (EBITDA) amounted to Euro 1.66 million in the third quarter of 2021 and Euro 6.60 million for the period 01.01.2021-30.09.2021 against Euro 1.35 million and Euro 5.72 million during the respective periods of the fiscal year 2020. A corresponding improvement was also shown by the consolidated Earnings before Taxes and Interest (EBIT), which amounted to Euro 1.25 million during the third quarter. 2021 and Euro 5.37 million for the period 01.01.2021-30.09.2021 against profits of Euro 0.94 million and Profit of Euro 4.55 million during the respective periods of the fiscal year 2020.
The net debt of Lavipharm Group on 30/09/2021 decreased to Euro 34.77 million from Euro 36.73 million on 31/12/2020.
The Equity of the Group on 30/09/2021 show an improvement and amounted to Euro (8,840) million in relation to Euro (12,269) million on 31/12/2020.
The spread of the Covid-19 pandemic, which results in global uncertainty and market turmoil as well as the adoption of exceptional restrictive measures at the international level, did not affect the financial results of the Group during the nine months of 2021. All Group companies have already adjusted from 2020 in the new conditions, while the Management is constantly taking all the necessary measures for the smooth operation of the production and the supply chain, as well as the protection and safety of its employees and associates.
The increase in energy costs is not expected to affect the operation of the company, since due to the nature of its field of activity, it does not participate significantly in production costs.
Based on the data so far and the developments regarding the treatment of the disease in the near future, as well as the continuous and intensive review of the Management in the proposals and suggestions of the competent bodies, there is the belief that the spread of the disease will not significantly affect the course. of the Group and the objectives set for the whole of 2021 are expected to be fully achieved.
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Source From: Capital
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