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Financial results

1H 2021 consolidated results

Consolidated Income Statement Data
(Thousands of euro)

1H 2021

1H 2020
Total net sales 85,885 89,099
Gross profit 35,380 38,223
% on sales 41.2% 42.9%
Operating income 7,544 11,143
% on sales 8.8% 12.5%
EBITDA 13,231 16,473
% on sales 15.4% 18.5%
Income before taxes 8,660 3,770
% on sales 10.1% 4.2%
Group net income 4,189 438
% on sales 4.9% 0.5%
 
Consolidated Balance Sheet Data
(Thousands of euro) June 30, 2021 December 31, 2020
Group shareholders' equity 238,723 238,162
Net financial position 82,406 95,742
HALF-YEAR NET REVENUES SHOWING ORGANIC GROWTH WITH SUBSTANTIALLY STABLE MARGINS, NET OF THE PENALIZING EXCHANGE RATE EFFECT
 
DURING 1H 2021 PROGRESSIVE OVERCOMING OF THE COVID-19 CRISIS, WITH A 2Q 2021 SHOWING A STRONG GROWTH COMPARED TO 1Q 2021
 
  • Consolidated net revenues equal to €85.9 million in 1H 2021 compared to €89.1 million in 1H 2020, organically increased by +3% but penalized by the exchange rate effect (-6.6%)
  • Consolidated net revenues equal to €44.8 million in 2Q 2021, organically increased by 9.6% compared to €41 million in 1Q 2021
  • Consolidated gross profit equal to €35.4 million (41.2% of consolidated revenues) in 1H 2021, down compared to €38.2 million (42.9% of consolidated revenues) in 1H 2020, exclusively due to the penalizing effect of exchange rates (net of exchange rates, gross profit in line with 1H 2020 and gross margin substantially stable)
  • Consolidated gross profit equal to €19.5 million (43.4% of consolidated revenues) in 2Q 2021, up when compared to €15.9 million (38.8% of consolidated revenues) in 1Q 2021
  • Consolidated operating income equal to €7.5 million in 1H 2021, compared to €11.1 million in 1H 2020, penalized by exchange rates and increase in operating expenses
  • Consolidated operating income equal to €5.3 million (11.8% of consolidated revenues) in 2Q 2021, more than doubled compared to €2.2 million (5.5% of consolidated revenues) in 1Q 2021
  • Consolidated EBITDA equal to €13.2 million (15.4% of consolidated revenues) in 1H 2021, compared to €16.5 million (18.5% of consolidated revenues) in 1H 2020
  • Consolidated EBITDA equal to €8.2 million (18.3% of consolidated revenues) in 2Q 2021, up from €5 million (12.2% of consolidated revenues) in 1Q 2021
  • Consolidated net income equal to €4.2 million in 1H 2021, compared to €0.4 million in 1H 2020, but the comparison is not significant due to the strong penalizing effect of Covid-19 on the fair value of the securities portfolio in 1H 2020
  • Consolidated net financial position positive and equal to €82.4 million as at June 30, 2021
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