Although we have received requests from shareholders to publish the quarterly results and highlighting the activity during the quarter, we consider that it is not a relevant presentation considering the specificity of the company. Shareholders who want this information can easily obtain it by subtracting the figures for Semester 1 from the figures presented in this report.
Instead, we consider it more relevant to present the results in the “last 12 months” format, all the more so given the seasonality of the business focused on Q4, as we have shown repeatedly. If we look at the group’s consolidated activity over the last 12 months, the overview is very favourable:
| Trailing 12M Q3 2020 |
Trailing 12M Q3 2021 |
Evolution | |
| Revenues from contracts with clients |
119,957,887 |
113,621,356 |
-5,28% |
| Cost of sales |
(94,835,741) |
(89,170,522) |
-5,97% |
| Gross margin |
25,122,146 |
24,450,834 |
-2,67% |
| Other incomes |
556,568 |
3,494,770 |
527,91% |
| Sales/distribution costs |
(7,731,664) |
(8,861,836) |
14,62% |
| Administrative costs |
(10,982,372) |
(11,473,862) |
4,48% |
| Profit/(loss) – Equivalent securities |
(256.274) |
786,704 |
406,98% |
| Financial income |
351,604 |
8,323,069 |
2267,17% |
| Financial expenses |
(4,322,779) |
(3,555,663) |
-17,75% |
| Gross profit |
2,737,229 |
13,164,016 |
380,92% |
| Tax |
(602.345) |
(1,431,572) |
137,67% |
| Net Profit, of which: |
2,134,884 |
11,732,444 |
449,56% |
| Net profit attributable to parent company (A) |
1,908,599 |
11,613,014 |
508.64% |
| Non-controlling interests |
226,285 |
119,430 |
-47.34% |
This presentation sends us the message that, in the situation where in Q4 it does not generate by far the historical average of 40% of the annual revenues, and therefore a significant profitability – but it is only breakeven we will still reach the profit target approved by the GMS.