The turnover in the nine months of 2022 of the Loulis Mills company jumped to 154.1 million euros compared to 95.4 million euros during the corresponding period last year.
According to the company’s data, the Sales Revenue, Profit before Taxes, Earnings before Taxes, Interest and Depreciation (EBITDA) and Earnings before Taxes and Interest (EBIT) of the Group and the Company for the Nine Months and the Third Quarter of 2022, compared to the corresponding periods of the previous fiscal year, are summarized as the following table:
The main financial figures of the Group and the Company, in the Nine Months and in the Third Quarter of 2022, appeared increased compared to the corresponding period of the previous year, mainly due to the increases in the selling prices of the products in the first half of 2022, as compensation for unprecedented increase in a) purchase prices of raw materials and packaging materials used in production, b) energy costs in production, and c) transportation costs of finished products.
Specifically, during the 3rd Quarter of 2022 (from 01.07.2022 to 30.09.2022), compared to the corresponding period of the previous year, a) Revenues from Sales increased by 64.30% in the Group and 63.24% in the Company , b) Profits before Taxes increased by 209.32% in the Group while they decreased by 11.01% in the Company, c) Profits before Taxes, Interest and Depreciation (EBITDA) increased by 52.59% in the Group and 19.09 % in the Company and d) Earnings before Taxes and Interests (EBIT) increased by 203.83% in the Group and 52.67% in the Company.
The results of the Group and the Company were also affected during the period from 01.01.2022 to 30.09.2022, as compared to the corresponding period of the previous year a) Sales Revenues increased by 61.59% in the Group and 60.19% in the Company, b) Profits before Taxes increased by 188.14% in the Group and 18.99% in the Company, c) Earnings before Taxes, Interest and Depreciation (EBITDA) increased by 59.51% in the Group and 31.76 % in the Company and d) Earnings before Taxes and Interests (EBIT) increased by 166.82% in the Group and 83.58% in the Company.
Additional credit limits
In addition, and in order to address increased working capital needs, management proceeded to secure additional credit lines to address future liquidity needs, which may arise as a consequence of the continued energy crisis, the war conflicts in Ukraine and the macroeconomic environment in general. Thus, the Net Debt of the Group and the Company on 30.09.2022 amounted to € 76.26 million and € 67.45 million respectively, increased by € 13.32 million (21.16%) and € 9.13 million (15.65%) respectively.
The extent of the impact of the energy crisis, the war conflicts in Ukraine and the macroeconomic environment in general, on the Group’s activities in the coming period will depend to a large extent on future international and domestic developments.
The management constantly monitors the developments, assesses the risks and takes the necessary actions in order to minimize any negative effects on the financial results of the Group, to continue the implementation of the strategic plan without interruption and to ensure the business continuity of the Group. Based on the data valid at the time of this writing, the management estimates that in any case, the energy crisis and the war conflicts in Ukraine will not affect the continuation of the Group’s and the Company’s activity.
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