Financial results

9M 2021 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	9M 2021	9M 2020
Total net sales	137,140	128,096
Gross profit	58,022	54,217
% on sales	42.3%	42.3%
Operating income	17,008	14,015
% on sales	12.4%	10.9%
EBITDA	25,519	22,218
% on sales	18.6%	17.3%
Income before taxes	18,013	7,429
% on sales	13.1%	5.8%
Group net income	10,524	3.133
% on sales	7.7%	2.4%

Consolidated Balance Sheet Data
(Thousands of euro)	September 30, 2021	December 31, 2020
Group shareholders' equity	248,237	238,162
Net financial position	70,231	95,742

QUATERLY CONSOLIDATED REVENUES GRADUALLY INCREASING

STRONG IMPROVEMENT OF ALL OPERATING INDICATORS IN COMPARISON BOTH WITH 3Q 2020 AND 2Q 2021, DRIVEN BY GROWTH IN REVENUES

Consolidated net revenues equal to €51.3 million in 3Q 2021, showing a gradual growth in all quarters of the current year (organic growth of +12.5% compared to 2Q 2021)
Organic increase of 32.2% compared to consolidated revenues (€39 million) in 3Q 2020
Total revenues of the Group equal to €53.9 million in 3Q 2021, increased by 14.8% compared to 2Q 2021 (€46.9 million) and by 31.2% compared to 3Q 2020 (€41 million)
Consolidated gross profit equal to €22.6 million (44.2% of revenues) in 3Q 2021, compared to €16 million (41% of revenues) in 3Q 2020 and €19.5 million (43.4% of revenues) in 2Q 2021
Consolidated operating income equal to €9.5 million (18.5% of revenues) in 3Q 2021, more than tripled compared to €2.9 million in 3Q 2020 and almost doubled compared to €5.3 million in 2Q 2021
Consolidated EBITDA equal to €12.3 million (24% of revenues) in 3Q 2021, showing a strong growth compared to €5.7 million (14.7% of revenues) in 3Q 2020 and €8.2 million (18.3% of revenues) in 2Q 2021
Consolidated net income equal to €6.3 million in 3Q 2021, more than doubled compared to €2.7 million in 3Q 2020 and €2.8 million in 2Q 2021
Consolidated net financial position at September 30, 2021 positive and equal to €70.2 million