Motodynamics: Profit against losses and increase in sales 24.5% for the group in the nine months

The strong nine-month period for Motodynamics ended with strong growth in all sizes.

Specifically, in the 3rd quarter of 2021 the Group’s sales increased by 18.5% to 30.7 million euros, earnings before interest, taxes, depreciation & amortization (Ebitda) amounted to 9.4 million euros increased by 100.9% , while the results before taxes to 7.3 million euros increased by 205.8%.

For the whole nine months, sales increased by 24.5% and amounted to 74.3 million euros. Profits before taxes, interest & depreciation (Ebitda) amounted to 12.1 million euros, almost double those of 2020 The results before taxes exceeded 6 million euros, when in the corresponding period last year they showed a loss.

Sales of motorcycles & seafood (Yamaha), despite supply chain problems, maintained their positive course in the third quarter, showing an increase of 6.6% to 13.6 million euros and an overall increase of 28% to 42.4 million. euros in the nine months.

On the other hand, car sales (Porsche) were particularly affected in the 3rd quarter by the limited availability and thus now stand at 13.3 million euros in the nine months, reduced by 18.3%.

The recovery in the car rental activity (Sixt) is spectacular with the sales of the 3rd quarter showing an increase of 114% to 14 million euros and an overall increase of 81.4% to 18.6 million euros in the nine months. As a result of the positive cash flows for all operations, the Group’s net debt decreased by 10 million euros and amounted to 9 million euros while the nine-month profit increased the Group’s equity to 23.9 million euros. against 18.7 million on 31.12.2020.

The CEO, Mr. Sotiris Hatzikos, said: “The known problems in product availability were particularly strong in the 3rd quarter and affected sales of Yamaha and Porsche. Much less Yamaha which maintains its very positive course compared to 2020, but mainly Porsche sales On the other hand, we had a very strong 3rd quarter in car rentals with sales more than double those of 2020 and very close to those of 2019. Our pricing strategy but also the limitation of specific expenses (depreciation, “They have resulted in a spectacular improvement in profitability at all levels. For the last quarter of the year we observe the momentum in the car rental market while we expect the gradual stabilization in the availability of our products”.