Nine Months of 2020 trading update
A CONTINUING STRONG PERFORMANCE
SIGNIFICANT EBITDA GROWTH OF 29%
STRONG EBIT INCREASE BY 33%
During the nine months of 2020 the Group continues to exhibit a robust performance driven by strong sales growth and significant profitability increase, reflecting the Group’s agility and ability to grow the business while responding effectively to an exceptionally challenging operating landscape and changing consumption patterns resulting from the COVID-19 crisis.
Throughout this period the management’s actions remain driven by clear priorities concerning the health and safety of the Group’s employees and the society, the uninterrupted business continuity and the continuous supply of high-demand products to the market.
Across its region, the Group enjoys increased demand behind product categories related to personal hygiene, health care and home care, benefiting at the same time by the lifting of the lockdowns during the third quarter of 2020.
During the nine months of 2020 the Group’s turnover reached €286.47 million from € 266.82 million in the respective period of 2019, up by 7.37%
Greek sales amounted to €103.32 million in the nine months of 2020 compared to €91.95 mil. in the respective quarter last year, up by 12.36%.
The foreign countries, exhibited growth of 4.74% reaching €183.15 million in 9M 2020 from €174.87 million in the respective period of 2019.
The Group’s profitability during the nine months of 2020 continues to present a significant growth on the back of balanced advertising and promotion and operating costs.
Specifically, during 9M 2020 EBITDA* was up by 28.57% to € 45.52 mil. from € 35.41 mil, with the EBITDA margin of 15.89% from 13.27% in the nine months of last year.
Earnings Before Interest and Tax (EBIT) increased by 33.23% reaching € 36.21 mil. in 9M 2020 versus €27.18 mil. in 9M 2019 and EBIT margin reached 12.64% in 9M 2020 from 10.19% in the respective period of 2019.
*Alternative Performance Measures, as defined within the relevant paragraph of the Group’s Financial Report.
For the remainder of the year 2020, the management remains confident that the Group’s abilities will support its dynamic and profitable growth momentum amidst the challenging environment.
The Group’s robust business model, market positioning and strong financial position provide the basis for the execution of its expansionary plan which involves building further our strategic product categories, pursuing adjacent subcategories, expanding into new markets and making value-adding acquisitions. This, in turn, combined with a clear focus behind profitability margin expansion and disciplined cash management, will drive further top line growth, further improvement in profitability and cashflow generation, ultimately adding value to our shareholders.
Headquartered in Athens and boasting a history of over 50 years, Sarantis Group is a multinational consumer products company having leading presence in Eastern Europe and an expanding geographical footprint through own subsidiaries and strong export activity worldwide. From Personal Care, Home Care and Health Care Products as well as Luxury Cosmetics, the Group offers well recognized brands that consumers love and trust in their everyday lives. With strong activity in 13 countries, and in particular in Greece, Poland, Romania, Bulgaria, Serbia, Czech Republic, Slovakia, Hungary, Northern Macedonia, Bosnia, Portugal, Ukraine and Russia, the Group maintains its dynamic international presence and a powerful distribution network of more than 50 countries around the world.
Investor Relations & Corporate Communications Director