Turnover increase, profit jump for EKTER in the nine months

-The turnover of the Group in the first nine months of 2021, amounted to € 16,215,369.54 from € 9,531,856.39 during the corresponding period of 2020, showing an increase of 70.12% which is due to the signing of new construction contracts both in the fourth quarter of 2020, as well as in the nine months of 2021.

-The above change brought about a significant change in the Group’s gross profits which amounted to profits of € 1,983,274.51 in the first nine months of 2021, compared to profits of € 222,381.26 in the first nine months of 2020, showing an increase of 791.84 %.

The results before taxes, financial, investment results and depreciation, on a consolidated basis, amounted to profits of € 1,259,278.42 against losses of € 162,227.20 in the corresponding nine months of 2020. The change is a consequence of the change in gross profits.

At Group level, the net results before taxes amounted to profits of € 933,240.26 against losses of € 533,806.90 in the first nine months of 2020. In addition to the above, it is noted that the financial expenses, which now include bank interest, are respectively between reference periods. Bank liabilities and leasing liabilities (long-term – short-term) As at 30/09/2021 the bank liabilities as well as the liabilities from the Group’s Leasing agreements have decreased in relation to the corresponding period of 2020 by € 1,811,310.02. On 30.09.2020 they amounted to € 5,449,539.18 while on 30.09.2021 they amounted to € 3,638,229.16 and their difference is analyzed as follows:

1) The amount of the medium-term loan € 2,000,000.00 with the guarantee of the Hellenic Development Bank, was used to repay a mutual account.

2) The long-term loan obligation of € 456,413.36 on 30.09.2020, which concerns the state aid in the form of “repayable advance”, increased by € 256,144.83 from receipts made after 01.10.2020.

3) The payment of rents for the financial leasing of real estate has begun, from the private use of a craft ground floor building, with a total area of ​​1,240.00 sq.m., on a plot of 7,484.93 sq.m. at the location of Vathios in the municipal unit of Avlidos of the Municipality of Chalkida. The liability on 30.09.2021 amounts to the amount of € 425,670.97 while its acquisition value amounted to € 590,000.00.

The reduction of the relevant obligation between the first nine months of 2021 and the corresponding 2020, after the payment of rents and the charges of interest and expenses, amounts to € 67,454.85. As it results from the analysis of the financial figures, the Company and the Group have not been affected by the energy crisis and the spread of the COVID-19 pandemic. The Management of the Group fully implemented the guidelines of the competent authorities and its productive process continued smoothly, while at the same time prioritizing social responsibility included in its construction activity projects such as the creation of ICUs in various hospitals in the country, the existing restructuring Pasteur Institute etc.

Based on the data in force at the time of writing and to the extent that it can be predicted, the Management estimates that until the end of the current year there is no uncertainty as to the continuation of its activity, given the signing of new construction contracts by in the fourth quarter of 2021, which strengthens the assessment that the fundamental financial figures of the group will not be affected by the spread of COVID-19