Thrace Plastics: EBITDA at 203.8 million in 2021
Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations amounted to € 103.8 million, an increase of 43.2%, compared to the previous year
The Turnover of the Plastics Thrace Group amounted to € 428.4 million, increased by 26.1% compared to 2020, from ongoing activities, according to the financial statements of 2021.
Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations amounted to € 103.8 million, increased by 43.2%, compared to the previous year. Also, Earnings before Taxes (EBT) from continuing operations amounted to € 83.9 million, increased by 61.1% compared to 2020.
It should be noted that according to Management estimates, for 2021, the Profit before Taxes at Group level, related to the products of the existing portfolio used in personal protection and health applications, amount to € 51.8 million.
In terms of liquidity levels, the Group achieved the further strengthening of its liquidity, recording Net Cash of € 9.3 million, as cash and cash equivalents exceeded its loan liabilities.
The total Equity on 31.12.2021 amounted to € 252.3 million, compared to € 176.1 million on 31.12.2020.
It is pointed out that the interrupted activities concern the cessation of the productive operation of the Group’s subsidiary in the USA, Thrace Linq Inc.
According to management, 2021 was a year of strong financial performance, as the Group achieved an increase in its profitability, successfully offsetting the negative effects mainly from the significant increase in the cost of Raw Materials and fluctuations in demand.