Minerva’s financial results for the nine months of the year 2021 recorded a significant improvement, both at the level of the group and the parent company.
In particular, the Company’s turnover amounted to 11,697 thousand euros in the first nine months of 2021 compared to 8,226 thousand euros in the first nine months of the previous year, recording an increase of 3,471 thousand euros or 42.20%, while the turnover in the third quarter of 2021 amounted to 4,371 thousand euros compared to 3,566 thousand euros in the corresponding period of the previous year, showing an increase of 805 thousand euros or 22.57%.
The turnover of the Group amounted to 12,201 thousand euros in the first nine months of 2021 compared to 8,519 thousand euros in the first nine months of the previous year, recording an increase of 3,682 thousand euros or 43.22%, while the turnover in the third quarter of 2021 amounted to 4,532 thousand euros compared to 3,696 thousand euros in the corresponding period of the previous year, showing an increase of 836 thousand euros or 22.62%.
Net Profit before Taxes, Interest, Investment Results and Depreciation (EBITDA) at Company level amounted to 1,952 thousand euros in the first nine months of 2021 compared to 875 thousand euros in the corresponding period of the previous year, while at Group level amounted to 2.16 euros compared to 939 thousand euros in the corresponding nine months last year.
EBITDA at Company level were formed in the third quarter of 2021 in the amount of 616 thousand. € against 505 thousand euros in the corresponding period of the previous year, while at Group level they amounted to 662 thousand euros compared to 601 thousand euros in the corresponding quarter last year.
The Net Profit before Taxes and Interest (EBIT) at Company level amounted to 1,079 thousand euros in the first nine months of 2021 compared to 121 thousand euros in the corresponding period of the previous year while at Group level they amounted to 1,220 thousand euros against 127 thousand euros of the corresponding nine months last year.
EBITs at Company level were formed in the third quarter of 2021 in the amount of 327 thousand euros compared to 221 thousand euros in the corresponding period of the previous year, while at Group level they amounted to 351 thousand. euros against 297km. euros for the corresponding quarter last year.
Earnings / Losses before Taxes at Company level in the nine months of 2021 improved by 899 thousand euros and amounted to profits of 447 thousand euros from losses of 452 thousand euros or 198.89% in the corresponding period of the previous year, while at Group level they improved by 1,036 thousand euros and amounted to profits of 575 thousand euros in the nine months of 2021 from losses of 461 thousand euros or 224.73% in the nine months of 2020.
Profit / Loss before Taxes at Company level in the third quarter of 2021 improved by 59 thousand euros and amounted to profits of 121 thousand euros from profits of 62 thousand euros, ie 95.16% in the corresponding period of the previous year, while at Group improved by 9 thousand euros and amounted to profits of 143 thousand euros in the third quarter of 2021 from profits of 134 thousand euros, or 6.72% in the third quarter of 2020.
The consequences of the pandemic
Regarding the consequences related to the current health crisis, the course of the Group so far in 2021 highlights the smooth and upward development of its activities with the main characteristics of the double-digit increase in turnover, and the significant improvement of results.
Regarding the increases in energy prices, it is obvious that they will affect the operating costs of the Group. However, the magnitude of this impact is not capable of adversely affecting the Group’s results in the short term. During the current year there has been an increase in the world market in the price of raw materials related to the Textile. Following these trends, the Company had made large purchases, at much lower prices compared to the current ones, during the first months of the year. It has also updated its price list, always in the context of healthy competition, in order to smooth out any negative effects that will arise on the results of the increase in production costs.
Finally, regarding the prospects for the current year, the Management estimates that the financial figures of the Group and the Parent Company will continue to show an upward trend during the fourth quarter of the year.
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Source From: Capital
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