The first half of 2022 for Motodynamics closed with strong growth in all sizes.
Specifically, sales showed an increase of 32.4% and reached 57.8 million. Earnings before taxes, interest and depreciation (EBITDA) reached 7.9 million euros, almost three times that of 2021, while the results before taxes amounted to profits of 3.2 million, when in the corresponding period last year they had shown a loss.
Sales of two-wheelers & marine products (Yamaha) maintained their positive course, without the problems in the supply chain having been normalized yet, showing an increase of 18% to 34 million euros.
A similar picture for car sales (Porsche) showing an increase of 27.7% to 13.1 million euros, in a market showing a negative sign in the first half of 2022.
The recovery in the car rental activity (Sixt) is spectacular with sales amounting to 11.3 million euros, showing an increase of 144.9% compared to last year. Positive operating cash flows partially funded Sixt’s fleet growth, with the balance coming from borrowing. Thus, the Group’s net borrowing increased by 7 million.
euros to 17.3 million euros.
The CEO, Mr. Sotiris Hatzikos, said: “Having on the one hand adapted to the ongoing unpredictable delivery conditions of Yamaha and Porsche, but enjoying on the other hand a strong tourist season with Sixt, we are going through a particularly strong year in all our activities. We are optimistic that the growth of our volumes will continue at a strong pace for the rest of the year.”
Source: Capital
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