{"id":10098,"date":"2020-11-12T13:24:34","date_gmt":"2020-11-12T11:24:34","guid":{"rendered":"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/bnet-report-9-months-2020\/key-elements-of-financial-statements\/3-1-financial-results-education-division\/"},"modified":"2020-11-12T13:58:10","modified_gmt":"2020-11-12T11:58:10","slug":"3-1-financial-results-education-division","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/3q-2020\/key-elements-of-financial-statements\/3-1-financial-results-education-division\/","title":{"rendered":"3.1. Financial results Education Division"},"content":{"rendered":"

Financial results Education Division<\/span><\/span>\u00a0<\/span><\/strong><\/h1>\n

From a financial point of view, the evolution of the Education Division in 9 months 2020 compared to 2019 shows an increase\u00a0<\/span><\/span>of RON\u00a0<\/span><\/span>900<\/span><\/span>K<\/span><\/span>\u00a0of the gross margin generated during the period, due to the better load obtained on human resources (higher number of students in the class,\u00a0<\/span><\/span>lower\u00a0<\/span><\/span>number of trainers needed to deliver the same value to\u00a0<\/span><\/span>students<\/span><\/span>). Thus, the operational profit of the period is<\/span><\/span>\u00a0with RON<\/span><\/span>\u00a0600<\/span><\/span>K<\/span><\/span>\u00a0higher than last year in the similar period.<\/span><\/span>\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n30\/Sep\/20<\/strong><\/td>\n30\/Sep\/19<\/strong><\/td>\nEvolution<\/strong><\/td>\n<\/tr>\n
Revenues from contracts with customers<\/td>\n7,422,150<\/u><\/strong><\/td>\n7,416,337<\/u><\/strong><\/td>\n<\/td>\n<\/tr>\n
Revenues from the provision of services<\/td>\n7,422,150<\/td>\n7,416,337<\/td>\n<\/td>\n<\/tr>\n
Cost of sales<\/strong><\/td>\n(3,205,185)<\/u><\/strong><\/td>\n(4,083,824)<\/u><\/strong><\/td>\n-21.52%<\/td>\n<\/tr>\n
The cost of selling goods \/ materials<\/td>\n(727,404)<\/td>\n(628,889)<\/td>\n15.66%<\/td>\n<\/tr>\n
Hours – Individual<\/td>\n(2,477,781)<\/td>\n(3,454,935)<\/td>\n-28.28%<\/td>\n<\/tr>\n
Gross margin<\/strong><\/td>\n4,216,965<\/strong><\/td>\n3,332,513<\/strong><\/td>\n26.54%<\/td>\n<\/tr>\n
Other incomes<\/strong><\/td>\n302,693<\/strong><\/td>\n637,012<\/strong><\/td>\n-52.48%<\/td>\n<\/tr>\n
Sales \/ distribution expenses<\/strong><\/td>\n(2,112,517)<\/u><\/strong><\/td>\n(1,418,682)<\/u><\/strong><\/td>\n48.91%<\/td>\n<\/tr>\n
Team expenses<\/td>\n(1,777,191)<\/td>\n(1,149,707)<\/td>\n54.58%<\/td>\n<\/tr>\n
Advertisement<\/td>\n(335,326)<\/td>\n(268,975)<\/td>\n24.67%<\/td>\n<\/tr>\n
Administrative costs<\/strong><\/td>\n(2,107,858)<\/u><\/strong><\/td>\n(2,562,536)<\/u><\/strong><\/td>\n-17.74%<\/td>\n<\/tr>\n
Staff expenditure<\/td>\n(909,562)<\/td>\n(758,222)<\/td>\n19.96%<\/td>\n<\/tr>\n
Depreciation (and Rent)<\/td>\n(530,784)<\/td>\n(662,222)<\/td>\n-19.85%<\/td>\n<\/tr>\n
Operational profit<\/strong><\/td>\n299,283<\/strong><\/td>\n(300,993)<\/strong><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div><\/div><\/div><\/div>