The turnover of the Reds group shows a decline at the level of nine months, but an increase at the level of the third quarter, while the EBITDA show a similar picture.
In particular, the turnover for the third quarter of the year increased by 6% and amounted to 2.044 million euros. At the 9-month level, the turnover reached 4.6 million euros, recording a decline of 6%. In terms of EBITDA for the third quarter amounted to 1.53 million euros, from 1.33 million euros in the third quarter of last year, while for the 9 months amounted to 2.79 million euros reduced by 2 %.
In its announcement, the company’s management emphasizes that the Group’s revenues come from the rental of the properties of the Smart Park in the area of Gialos Spata. According to the provisions of the following elements A. 1030/2021 (Β’702), 1057/2021 (Β ‘1069), 1058/2021 (Β’ 1072), 1114/2021 (Β ‘2149) joint decisions of the Υ.Ο. . – in addition to natural persons – in 2021 the Greek State provided the possibility of compensation of 60% of the total monthly rent to legal entities and entities.
The total amount of the claim / compensation, from the Greek State (60% of the monthly rent) for legal entities as required by law in the context of dealing with the effects of COVID -19, for the Group in the months January to May amounted to € 1.6cm and an amount of € 0.85m has been returned to the company to date.
The results of the above legislative interventions have been fully reflected in the results and accounts of the period 01 / 01-30 / 09/2021.
Below are tables of comparative period of quantitative effects and recording differences in the results of the Group, which include the comparison of 9 months 2021 with 9 months 2020 and on a cumulative basis, as well as the quantification of the effect of covid -19 on the results of the Group, which amounts to € 1.0cm after deducting the tax effect.
Among other things, the announcement points out that: Taking into account the existing financial conditions, the Group operates carefully and selectively in terms of investment activities in the domestic market. The expectations of owners and investors anticipate a return of economic activity to pro-covid levels in relation to the fiscal measures taken to address the health crisis and the boost of the Greek economy expected from the country’s Recovery and Sustainability plan, through which The domestic economy is expected to strengthen. The impact of the pandemic on the objectives, operations, financial performance and cash flows of the Group is manageable to the extent that no doubts are created about the possibility of a smooth continuation of its activity. The Management closely monitors the developments by studying possible risk factors and the avoidance of their consequences “.
See the full announcement here
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Source From: Capital
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