Return to earnings for Coral in the nine months

The Coral Group recorded an increase in revenue and a return to profits on an annual basis in the first nine months of 2021, according to the data it published.

More detail:

“The Coral Group of Companies (hereinafter the” Group “) following the outgoing letter of the Hellenic Capital Market Commission with outgoing number 2596 / 09.11.2021, informs the investing public regarding the formation of its fundamental financial figures during the third quarter of the year 2021 and on a cumulative basis for the period 1/1/2021 – 30/09/2021 which are briefly presented in the following tables. The financial figures of the Coral Group, during the first nine months of 2021 compared to the corresponding period of 2020, moved as follows:

The corresponding data for the third quarter of 2021 in relation to the corresponding quarter of 2020 are as follows:

The gross turnover of the Group for the first nine months of 2021 amounted to € 1,770 million, increased by € 392 million compared to the corresponding nine months of 2020, showing a percentage increase of 28%. The significant increase in turnover is due to the 8% increase in sales volume due to the normalization of conditions at the economy level, as a result of the lifting of travel restrictions, as well as the increase in the prices of final fuel products. As a result, the Group’s gross profit margin amounted to € 179 million or 10% of turnover, compared to € 111 million or 8% of turnover in the comparative period, showing an increase of approximately 61%.

The Group’s pre-tax profits for the first nine months of 2021 amounted to € 42 million compared to pre-tax losses of € 13 million in the corresponding one-month period of 2020, showing an increase of 426%. During the first nine months of 2021 no significant change was observed in the capital structure of the Group. The ratio of net debt to total employed capital is considered sufficiently satisfactory.

Despite the adverse market conditions, which prevailed since 2020 due to the pandemic, as well as the energy crisis, the Group Management estimates that the Group has sufficient resources that ensure the smooth continuation of their operation as a “Sustainable Economic Unit” (Going Concern) In particular: The Management of the Group has secured financing lines of approximately 356 million Euros that ensure its smooth operation and the implementation of capital investments as they have already been planned. and the implementation of the Group’s objectives were not affected and are not expected to be affected in the fourth quarter of 2021, as the Group is active in the field of petroleum products trading. with a view to protecting the health of workers its customers, suppliers and suppliers.