With a significant increase in its size, Reds completed in 2021 and the company’s management to emphasize that its performance seals the return to growth.
Detailed financial figures of Reds:
– The Group’s Turnover in the year 2021 amounted to € 7.5 million, an increase of 14.6%, compared to the year 2020.
– Significant increase in Operating Profitability for the year 2021, with EBITDA at € 5 million, compared to € 4 million in the year 2020 and EBITDA margin 67% versus 62%.
– Operating Profit (EBIT) for the year 2021 amounting to € 3.2 million compared to € 2.3 million in the year 2020
– Profit before taxes of € 1.3 million for, compared to € 0.7 in 2020
– Net Lending Reduction: 31.12.2021 amounted to € 23.1 million compared to € 28.6 million on 31.12.2020
– The liquidity of the Group amounted to € 10.6 million on 31.12.2021 compared to € 8.2 million on 31.12.2020
– The Leverage Ratio (Net Lending / EBITDA) stood at 4.6x from 7.1x on 31.12.2020
– Positive Operating Cash Flows amounting to € 5.2 million for the year 2021, compared to € 2.1 million for the year 2020
The management of the group underlines that “the financial results of 2021 seal in the best way the business strategy of the Management of REDS towards its development course, despite the challenges of the Pandemic that remained particularly felt in 2021.
Having prioritized the restructuring of the company and set the goals for a positive financial footprint, REDS has managed to improve its business operation, and gain an upward trajectory.
Key points of this new course are recorded in its operating profits which increased by 41.7% but also in pre-tax profits which increased by 85.7% compared to 2020. At the same time, Revenues increased by 14.6% while EBITDA 23.7% compared to 2020.
With positive cash flows, reduced borrowing and increased cash, REDS has now laid the groundwork for a new competitive course in the Real Estate Management and Development sector and the creation of stable and long-term value for shareholders, society and greek economy.
The 4 emblematic development projects and flagships of the company’s business strategy, Smart Park, Marina Alimou, Ktima Kampa and Gournes of Heraklion, Crete, are the main priorities for highlighting the dominant position of REDS in the field of Property Management and Development. ”
Source: Capital
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