The BIOKARPET group recorded an increase in profitability and sales as shown by the annual financial results of 2021.
Turnover increased by 51.98% and earnings before taxes increased by 578.38%.
In addition, the parent company “BIOKARPET SA” increased its turnover by 44.48%, recording profits of € 0.57 million against losses of € 0.66 million in the fiscal year 2020.
A’. BIOKARPET GROUP
– The net sales of the GROUP during the fiscal year 2021 amounted to € 187.29 million compared to € 123.24 million in the corresponding fiscal year 2020, an increase of 51.98%.
– The group’s exports during the year 2021 amounted to € 98.23 million compared to € 68.80 million in the corresponding year of 2020. Increase by 42.78%. Exports account for 52.45% of total turnover.
– Domestic sales during the year 2021 amounted to € 89.06 million compared to € 54.45 million in 2020. Increase by 63.56%.
– Consolidated earnings before taxes, financial and investment results and depreciation (EBITDA) in the year 2021 amounted to € 14.84 million, compared to € 9.63 million in the corresponding year 2020. Increase by 54.10%.
3. PROFITS BEFORE TAXES:
THE GROUP presents pre-tax profits for the year 2021 of € 5.02 million compared to € 0.74 million for the year 2020. Increase by 578.38%.
4. PROFITS AFTER TAXES
– THE GROUP presents consolidated profits after taxes in the fiscal year 2021 € 4.26 million, compared to profits of € 0.22 million in the corresponding fiscal year 2020.
– The consolidated net profit corresponding to the shareholders of the company, after the deduction of the minority rights and after the deduction of taxes, amounted to € 4.14 million during the year 2021 against profits of € 0.12 million in the corresponding period of 2020.
2nd Parent Company “BIOKARPET SA”
– The net sales of the parent company during the fiscal year 2021 amounted to € 9.03 million compared to € 6.25 million in the corresponding fiscal year 2020. Increase by 44.48%.
– Profits of the parent company before taxes, financial and investment results and depreciation (EBIDTA), in the year 2021 amounted to € 2.37 million compared to profits of € 1.23 million in the corresponding year of 2020, an increase of 92.68 %.
3. PROFITS BEFORE TAXES
The profit of the parent company before taxes for the year 2021 amounted to € 0.57 million against losses (0.66) million € in the year 2020.
4. PROFITS AFTER TAXES
– Profits after taxes of the parent company amounted to 0.58 million € during the fiscal year 2021, compared to losses (0.78) million € in the corresponding fiscal year 2020.
2021 for the BIOKARPET GROUP was a year of strong financial performance. With a significant increase in turnover by 51.98% and a thematic increase in profitability before taxes by 578.38% compared to 2020. Throughout the year there was a large and stable demand for products, especially in the metallurgical sector and in combination with investments. carried out by the GROUP such as the new modern electrostatic aluminum paint dye with a capacity of 11,000 tons per year and the wood imitation paint unit with a capacity of 2000 tons of high value-added products with low production costs the GROUP successfully met results.
Investments for the expansion and modernization of the production process are the primary goal of the GROUP’s management. A new storage area of 6,000 m2 for aluminum products has already been constructed and a new aluminum extrusion line with a capacity of 11,000 tons per year has already been ordered, which is expected to be installed by October 2022.
The GROUP’s investments in green energy also continue. Within 2021, 10MW PV was constructed by the parent BIOKARPET SA and is expected to be connected to the network soon. A substation with a capacity of 100 MW has also been constructed. Thus, the GROUP currently owns 19 MW PV stations. The goals of the GROUP’s management are to build another 10 MW on behalf of EXALCO SA and 5MW for BIOKARPET SA based on the production licenses it holds. EXALCO also holds a license for 50MW PV that is expected to be utilized depending on the circumstances.
The new investments will significantly contribute to the financial results of the GROUP.
In terms of the outlook for 2022, we observe that in the first quarter we have a significant increase in turnover and spectacular economic results, compared to the first quarter of 2021. However, the situation prevailing today in the world with the energy crisis and geopolitical developments in Ukraine and the course of the pandemic make us particularly wary of any predictions about the future course of the 2022 financial results.
The Board proposes not to give a dividend for the fiscal year 2021.