The turnover of N.VARVERI-MODA BAGNO SA increased by 46.2% in the first nine months of 2021 compared to the corresponding period last year, while the results (profits) after taxes for the parent company amounted to € 1.4 million from € 357 thousand in the corresponding period of 2020, showing an increase of 291.8%, as announced today by the listed company.
In particular, as the company states in a relevant announcement, according to the letter from 09/11/2021, of the Hellenic Capital Market Commission to the issuers of securities listed on the regulated market of the Athens Stock Exchange, to inform the investing public, due to the effects of the spread COVID-19, the company N.VARVERIS-MODA BAGNO SA announces the results of DG Quarter 2021.
According to the data of DG Quarter, the turnover from sales to the parent company, increased by € 3.8 million compared to the corresponding period of 2020, ie an increase rate of 46.21%.
The reason for the increase in turnover is due to:
1) In the growth of the construction activity sector, which is directly related to the products traded by the company and consequently the furniture area, which is also associated with the new constructions of houses, tourist accommodation and renovations of existing ones.
Along with all the previous years of the crisis and the last two with the effects of the pandemic, the company has managed to stay in the market, proving the strength, recognizability and reliability of the “brand” with which its products and services are recognized.
2) In the activity of the company in the field of catering, with the restaurant INTERNI in Mykonos.
This year ‘s operation of the restaurant, although it started with sparing predictions due to the uncertain reaction of the people after the 2nd wave of the pandemic and the impact that it will have on tourism, the mass vaccination worldwide, worked positively, with Mykonos still once a pole of attraction for an international tourist destination.
In detail, the turnover of the parent company, compared to the corresponding data of 2020 in the nine months was:
The results (profits) after taxes for the parent company in 2021, are at € 1.4 million compared to € 357 thousand in 2020, an increase rate of 291.83%. At group level, profits after taxes in 2021 are at € 1.8 million compared to € 322 thousand in 2020, an increase rate of 462.85%.
The results (profits) before taxes and interest (EBIT) are for the parent company at 2 million € for 2021, while in the corresponding period in 2020 it was 695 thousand €, an increase rate of 186.85%, At group level in 2021 it is at 2 , 6 million € against 670 thousand € in 2020, an increase rate of 287.58%.
Finally, the results (profits) before taxes, interest and depreciation (EBITDA) for 2021 are in the parent company € 2.6 million compared to € 1.3 million in 2020, an increase rate of 97.75% while at group level in 2021 it is 3, 4 million € with the corresponding period of 2020 at 1.6 million €, growth rate of 117%.
The loan position of the company did not change in the third quarter of 2021, while the financial situation of the company is sufficient for it to continue its business activity smoothly.
The following is a summary of quarterly results for the parent company and the group:
Summary Financial Figures Nine Months (in euros)
Statement of comprehensive income
Financial position statement
INFORMATION ABOUT THE IMPACT OF THE ENERGY CRISIS AND THE SPREAD OF COVID-19 TO ESSENTIAL FINANCIAL SIZES & PROSPECTS
Impact on the operation of the company
Despite the unfavorable economic situation internationally and locally due to the pandemic, the financial results and activities of the company and the Group were not affected by the effects of the pandemic and the energy crisis in the first nine months of 2021 and there are no conditions that raise doubts. regarding the ability of the group to continue its activity and smooth operation. All the companies of the Group have already adapted to the new conditions from 2020, 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 in production costs.
The management of the Company monitors the developments from the beginning, follows the instructions of the competent state authorities taking the necessary measures, with the primary goal of the safety of its employees but also the continuation of business continuity by making purchases from suppliers, sales to customers and serving obligations. of.
The company has advanced from a health point of view based on the safety of employees and all traders, providing at very regular intervals diagnostic test for covid-19.
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.
Measures taken to reduce the impact of the pandemic
From a financial and business point of view, the group and the company systematically monitor the domestic and international developments and take all the necessary and foreseen measures for the enhancement of their liquidity and the smooth continuation of the activities.
Assessing the impact in the future
For the last quarter of 2021 but also for 2022, as long as it is estimated that there will be no worsening of the pandemic and at the same time the positive estimates for the vaccination of a large number of citizens succeed, the company and the group hope to improve their finances even more. figures in terms of revenue and profitability.
It should be noted, however, that the duration and intensity of the pandemic are still unknown. Consequently, as long as the uncertainty in the financial environment continues to exist, the Management will continue to examine and evaluate the data, so that those decisions that will not affect the operation of the company are taken and all the necessary measures are taken in time to minimize risks and effects on its activities.
Source From: Capital
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