31 October 2024
ANNOUNCEMENT
Key financial figures of the 3rd quarter 2024
- Consolidated sales amounted to € 2.1 million during the third quarter of 2024 and € 6.4 million for the nine‐month period of 2024 against € 1.9 million and € 5.8 million during the respective periods of 2023, increased by 8.2% and 10.9% respectively.
- Consolidated gross profit amounted to € 1.3 million for the third quarter of 2024 and € 3.9 million for the nine‐month period of 2024 against € 1.1 million and € 3.3 million during the respective periods of 2023, making a significant improvement by 17.8% and 17.0% respectively.
- Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) were profitable for both the third quarter and the nine‐month period of 2024, compared to losses in the corresponding periods of 2023. Specifically, EBITDA amounted to gains of € 0.4 million for the third quarter of 2024 and € 1.0 million for the nine‐month of 2024, compared to losses of € 4 thousand and € 0.3 million in the corresponding periods of 2023.
- Company's equity portfolio's return was 11.7% and fixed income portfolio's return was 10.9% for the nine‐month period of 2024. Profits from Company's portfolio asset management amounted to € 846 thousand vs € 276 thousand in the comparative period of 2023.
- Profit after tax from continuing operations for the third quarter of 2024 amounted to € 31 thousand compared to loss of € 1.0 million in the comparative quarter of 2023. For the nine‐month period of 2024 profits after tax from continuing operations amounted to € 5.2 million compared to € 3.8 million in the comparative period of 2023, recording an increase of 35.8%.
- Equity attributable to Owners of the Parent company amounted to € 127.0 million i.e. € 4.05 per share.
- The subsidiary company RKB continued the significant improvement of its results for one more quarter. In particular, for the third quarter and the nine‐month period of 2024 recorded an increase in sales of 5.8% and 8.6% respectively, an increase in gross profit of 13.4% and 13.1% respectively, gross margin improved by 4.0 and 2.3 percentage points respectively, to 59.9% and 59.8% respectively and a significant improvement of EBITDA by 36.9% and 20.7% respectively. During the first half of 2024, extraordinary gains of € 5.8 million were realized from the restructuring of RKB's bank borrowing. Consequently, RKB's net debt amounted to € 85.4 million at the end of the third quarter of 2024, decreased by € 5.9 million for the nine‐month period of 2024.
1
Summary of consolidated financial results
€ thous. | 01.07‐ | 01.07‐ | Variation | 01.01‐ | 01.01‐ | Variation | |||||||||||||||
30.09.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | ||||||||||||||||||
Sales | 2,100 | 1,940 | 8.2% | 6,415 | 5,785 | 10.9% | |||||||||||||||
Gross profit | 1,278 | 1,085 | 17.8% | 3,890 | 3,325 | 17.0% | |||||||||||||||
EBITDA | 358 | (4) | ‐ | 1,028 | (247) | ||||||||||||||||
EBIT | 293 | (75) | ‐ | 820 | (460) | ||||||||||||||||
Profit/(Loss) after tax | |||||||||||||||||||||
from continuing | 31 | (1,033) | ‐ | 5,183 | 3,816 | 35.8% | |||||||||||||||
operations | |||||||||||||||||||||
Profit/(Loss) after tax | |||||||||||||||||||||
from discontinued | ‐ | ‐ | ‐ | ‐ | 99,338 | ||||||||||||||||
operations | |||||||||||||||||||||
Key consolidated figures of financial position | |||||||||||||||||||||
€ thous. | 30.09.2024 | 31.12.2023 | |||||||||||||||||||
Total assets | 218,866 | 220,194 | |||||||||||||||||||
Total liabilities | 91,818 | 98,329 | |||||||||||||||||||
Total Equity | 127,048 | 121,865 |
RKB ‐ Summary of key financial results
€ thous. | 01.07‐ | 01.07‐ | Variation | ||||||||
30.09.2024 | 30.09.2023 | ||||||||||
Sales | 2,052 | 1,940 | 5.8% | ||||||||
Gross profit | 1,230 | 1,085 | 13.4% | ||||||||
EBITDA | 960 | 701 | 36.9% | ||||||||
EBIT | 954 | 694 | 37.5% | ||||||||
Profit/(Loss) after tax | 347 | (224) | ‐ | ||||||||
01.01‐ | 01.01‐ | Variation | |||||
30.09.2024 | 30.09.2023 | ||||||
6,284 | 5,785 | 8.6% | |||||
3,759 | 3,325 | 13.1% | |||||
2,877 | 2,384 | 20.7% | |||||
2,859 | 2,365 | 20.9% | |||||
6,386 | (196) | ‐ | |||||
Note: The above mentioned financial figures are unaudited.
2