Louli Mills: Increased turnover, reduced profits in the nine months

Increased sales at group and company level, but also reduced profits recorded by “Loulis Mills” in the nine months of 2021.

Revenue from Sales, Earnings before Taxes, Earnings before Taxes, Interest and Depreciation (EBITDA) and Earnings before Taxes and Interest (EBIT) of the Group and the Company for the Nine Months and the Third Quarter of 2021, compared to corresponding periods of the previous year, are summarized as follows:

In the third quarter of 2021, the results of the Group and the Company were negatively affected a) by the continuation of the spread of the pandemic “Covid ‐ 19”, b) by the significant and continuous increases in basic raw material categories in the domestic and international market, (c) the significant increase in transport costs and in particular the shipping fare for container transport; and (d) the significant increase in energy costs.

The result of the above was during the third quarter of 2021, compared in parallel with the corresponding period of the previous year, a) Revenues from Sales show an increase of 30.29% in the Group and 31.22% in the Company, b) Earnings before Taxes show a decrease of 63.48% in the Group and 39.10% in the Company, c) Earnings before Taxes, Interest and Depreciation (EBITDA) show a decrease of 26.33% in the Group and 19.44% in Company and d) Earnings before Taxes and Interest (EBIT) show a decrease of 59.98% in the Group and 42.59% in the Company.

The results of the Group and the Company were similarly affected during the period from 01.01.2021 to 30.09.2021, as compared to the corresponding period of the previous year a) Sales Revenues increased by 17.86% in the Group and 18.92% in Company, b) Earnings before Taxes decreased by 48.60% in the Group and 46.94% in the Company, c) Earnings before Taxes, Interest and Depreciation (EBITDA) decreased by 20.87% in the Group and 21.21% in the Company and d) Earnings before Taxes and Interest (EBIT) decreased by 45.46% in the Group and 43.90% in the Company.

In addition, and in order to address the effects of the pandemic and the energy crisis on the Group’s liquidity, the management proceeded to reduce its cash and cash equivalents in order to meet its working capital needs and at the same time secured additional credit limits to address future liquidity needs. , which may arise as a consequence of the continuing pandemic and the energy crisis.

Thus, the Net Borrowing of the Group and the Company on 30.09.2021 amounted to € 50.21 million and € 44.55 million respectively, increased in the third quarter by € 7.60 million and € 7.14 million. respectively. The extent of the effects of the pandemic and the energy crisis on the Group’s activities in the coming period will largely depend on future developments and government measures. The management constantly monitors the developments, evaluates the risks and takes the necessary actions in order to minimize the effects of the pandemic and the energy crisis on the financial results of the Group, to continue the implementation of its strategic and investment plan and to ensure its business continuity. Group. Based on the data in force at the time of writing, the management estimates that in any case, this health event as well as the energy crisis will not affect the continuation of the activity of the Company and the Group.