November 18, 2020

Announcement of 9m 2020 Financial Results


The purpose of the current release is to present the Group's financial results for the nine-month period of the current year

FINANCIAL RESULTS OF THE NINE-MONTH PERIOD OF 2020

ATHEX: PLAT
Reuters: THRr.AT
Bloomberg: PLAT GA

The purpose of the current release is to present the Group's financial results for the nine-month period of the current year.

More specifically, the following table presents the main financial figures of the Group in the 9-month period of 2020 in relation to the corresponding period of 2019. It is also noted that US subsidiary Thrace Linq Inc. operations are categorized as discontinued operations.

CONSOLIDATED FIGURES OF THE GROUP (in € thousand)

30/09/2020

30/09/2019

Change (%)

Turnover (Continuing Operations)

253,729

230,497

10.1%

Gross Profit (Continuing Operations)

77,339

48,557

59.3%

ΕΒΙΤ* (Continuing Operations)

39,385

14,888

+164.5%

EBITDA* (Continuing Operations)

52,404

25,555

+105.1%

Adjusted EBITDA*

54,596

25,555

+113.6%

EBT (Continuing Operations)

38,409

12,932

+197.0%

Earnings after Taxes (Continuing Operations)

28,920

9,390

+208.0%

Earnings/(Losses) after Taxes (Discontinued Operations)

(3,421)

(1,147)

EAT (Continuing and Discontinued Operations)

25,499

8,243

+209.3%

Earnings after Taxes and Minority Interests (Continuing Operations)

28,368

9,147

+210.1%

Earnings/(Losses) after Taxes and Minority Interests (Discontinued Operations)

(3,421)

(1,147)

EATAM (Continuing and Discontinued Operations)

24,947

8,000

+211.8%

Basic Earnings per Share (Continuing Operations) (in Euro)

0.6496

0.2091

+210.7%

Basic Earnings / (Losses) per Share (Discontinued Operations) (in Euro)

(0.0783)

(0.0262)

Basic Earnings per Share(Continuing and Discontinued Operations) (in Euro)

0.5712

0.1829

212.3%

It should be noted that the Adjusted EBITDA does not include costs related to the operational reorganization of the Scottish subsidiary Don & Low Ltd totaling € 2,192 thousand. This subsidiary has reduced its presence in the market of Woven Technical Fabrics while increasing its production capacity in Non Woven Technical Fabrics.

The reduction of Net Debt by € 43,282 thousand was also significant (on 30.09.2020 the Net Debt had amounted to 40,246 thousand Euros, compared to 83,528 thousand Euros on 31.12.2019, implying a reduction by 51.8%), with the Net Debt / Equity ratio settling at 0.24x versus 0.57x on 31.12.2019. The Net Debt / EBITDA ratio for the period settled at 0.76x (EBITDA refers to the period from 01.10.2019 to 30.09.2020). It is noted that on 31.12.2019 the ratio was 2.91x while on 30.09.2019 it had reached 3.04x.

Total Equity on 30.09.2020 amounted to 165,050 thousand Euros compared to 146,349 thousand Euros on 31.12.2019.

* Note

Alternative Performance Measures (APM): During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized.

EBIT (The indicator of earnings before the financial and investment activities as well as the taxes): The EBIT serves the better analysis of the Group's operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses, before the financial and investment activities. The EBIT margin (%) is calculated by dividing the EBIT by the turnover.

EBITDA (The indicator of operating earnings before the financial and investment activities as well as the depreciation, amortization, impairment and taxes): The EBITDA also serves the better analysis of the Group's operating results and is calculated as follows: Turnover plus other operating income minus the total operating expenses before the depreciation of fixed assets, the amortization of grants and the impairments, as well as before the financial and investment activities. The EBITDA margin (%) is calculated by dividing the EBITDA by the turnover.

Adjusted EBITDA (The adjusted indicator of operating earnings before the financial and investment activities as well as the depreciation, amortization, impairment and taxes): The adjusted EBITDA equals with the EBITDA excluding any extraordinary or non-recurring Expenses/Income.

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Thrace Plastics Co. SA published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2020 22:10:01 UTC