Intereuropa FY 2021 Results

In 2021, Intereuropa recorded an increase in sales revenue of 17%, an EBITDA increase of 12%, and a net profit of EUR 6.7m, an increase of 88% YoY.

Intereuropa published its FY 2021 results this week. In it, we can see that the sales revenue of the Company amounted to EUR 176.7m, an increase of 17% YoY, and 11% relative to the plan for the year. This increase in sales is higher than the Company’s expectations in all three business lines, with the intercontinental transport segment recording the highest growth in absolute terms. In turn, this growth is a result of an increase in the volume of sales and growth in sea freight rates, as well as the increasing prices of air freight due to the lack of transport capacities. Other operating revenues also had an impact on the results, amounting to EUR 1.1m in 2021, due to the government aid to contain the negative effects of the pandemic.

EBITDA amounted to EUR 13.8m, an increase of 12% YoY and 6% higher than planned. One of the main reasons for this increase was the aforementioned other operating revenue increase.  At the same time, the cost of goods, materials and services increased by 21% YoY and amounted to EUR 131.4m. This increase was mainly driven by the growing energy prices. At the same time, labour costs increased 5% YoY and amounted to EUR 30.5m. Meanwhile, other operating expenses decreased by -13% YoY, and amounted to EUR 2.13m. Together, this would amount to an EBITDA margin of 7.8%, a decrease of 36 bps YoY.

Moving further down the P&L, the Company’s net profit amounted to EUR 6.7m, an increase of 88% YoY. This increase was due to the above-mentioned increases in revenue and EBITDA but also contributing to it, was one-off finance income in the amount of EUR 0.4m.

Looking over to indebtedness, Intereuropa’s net financial debt at the end of 2021 amounted to EUR 35.8m, a decrease of EUR 8.6m YoY. This would also mean that the Company’s net debt to EBITDA ratio improved to 2.6x, a 28% decrease YoY. The decrease in the net financial debt was a result of an increase in cash and cash equivalents, as well as a decrease in financial liabilities.

The Company also invested EUR 4.5m in property, plant and equipment and intangible assets in 2021. On the other hand, the Company sold obsolete assets for an amount of EUR 2.5m.

Category : Flash News

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