The profitability and net sales of the Nikas Group of companies improved slightly, both at the level of nine months and the third quarter.
More specifically, the Group’s total net sales increased by 1.8% and amounted to € 43,448 thousand compared to € 42,675 thousand in the corresponding period last year.
The results before taxes and financial results (EBIT) of the Group improved by € 1,620 thousand and amounted to a profit of € 1,511 thousand compared to a loss of € -109 thousand in the corresponding period last year.
The results before taxes (EBT) of the Group improved by € 1,113 thousand and amounted to a profit of € 294 thousand against a loss of € -819 thousand in the corresponding period last year.
The Results before Taxes, Financial, Investment Results and Depreciation (EBITDA) of the Group increased by € 1,765 thousand and amounted to € 3,644 thousand compared to € 1,878 thousand in the corresponding period last year.
Continuing its upward course, the company improved its financial results while maintaining a stable market share.
Regarding the third quarter, the Group’s total net sales increased by 6.6% compared to the previous period and amounted to € 15,362 thousand compared to € 14,414 thousand in the corresponding period last year.
The results before taxes and financial results (EBIT) of the Group improved by € 148 thousand and amounted to € 557 thousand compared to € 409 thousand in the corresponding period last year.
The Group’s pre-tax results (EBT) improved by € 115 thousand and amounted to € 135 thousand compared to € 20 thousand during the previous period.
The Results before Taxes, Financial, Investment Results and Depreciation (EBITDA) of the Group increased by € 164 thousand compared to those of 2020 and amounted to € 1,262 thousand compared to € 1,098 thousand in the corresponding period last year.
Regarding the consequences related to the current health crisis, the upward course of the Group since the beginning of the pandemic confirms both the resilience of the food sector to the financial uncertainty created by the pandemic and the effectiveness of the measures and actions adopted. and are implemented consistently by the Management. Therefore, although the duration and intensity of the crisis can not be predicted, the Group Management estimates that there is no substantial uncertainty as to the smooth continuation of its activity.
The increases in the prices of energy, transport, market prices of B ‘materials and packaging materials, especially from July 2021 onwards, burdened to some extent the results of the 3rd Quarter and are expected to have a negative impact on the figures of the latter quarter. Management closely monitors the course of prices and takes all possible measures to reduce its exposure to the wave of price increases and maintain its positive performance.
In full consistency with the investment program of the company during the third quarter of 2021, capital investments of € 1,750 thousand were made and for the nine months of 2021 a total of € 4,163 thousand.
In September 2021, the share capital increase of the subsidiary company “ALLANTIKA MAKEDONIAS SA” of € 8,904,019.20 was completed, which was made by € 6,628,581.20 with capitalization of receivables and by € 2,275,438.00 with cash which were used for loan repayment. Thus, the total borrowing of the Group decreased equally.
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Source From: Capital
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