ELLAKTOR announced its financial results for the Nine Months Ended September 30, 2021.
The Group reported revenue in 9M 2021 stood at €638million, compared to €667million in 9M 2020, a marginal decrease of 4%. In Q3 2021, Group revenue stood at €244million (+7%), compared to €229million in the corresponding period of last year.
Following six consecutive quarters of negative results, Profit Before Tax of €8m was recorded in Q3 2021 vs -€3million in the corresponding period of last year.
Strengthening Operating Profitability, with comparable(1) EBITDA at €125million vs €111million in 9M2020 (+12%).
EBITDA in 9M 2021 reached €98.5million compared to €111million in last year’s corresponding period. 9M 2021 EBITDA margin was at 15%. Comparable EBITDA margin at 20% for both 9Μ 2021 and Q3 2021 vs 17% in the corresponding period of last year.
The group's CEO, Mr.Efthymios Bouloutas commented on the results:
"In 9M 2021, the Group’s key business segments demonstrated healthy growth rates, both at
revenue and operating profitability level, despite the challenges posed by the pandemic
restrictive measures. In the Construction segment, Q3 2021 revenue increased compared to Q3
2020 (+9%), while 9M 2021 operating profitability decreased, as a result of the gradual
disengagement from unprofitable markets. In addition, results have been impacted by the
negative outcome of an arbitration for a Qatar project. Following six consecutive loss making
quarters, the Group registered Q3 2021 pre-tax profits of €8m. The Group’s Comparable
EBITDA stood at €125m, posting a 12% increase when compared to 9M 2020. In the context of
operational and financial reorganization of the Group, the drastic reduction of operating
expenses continues at an intensive pace and with visible results, while the successful completion
of the €120.5m Share Capital Increase strengthens the capital structure, improves liquidity and
paves the way for profitable growth across all segments."
