{"id":14342,"date":"2021-11-12T10:17:09","date_gmt":"2021-11-12T08:17:09","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?page_id=14342"},"modified":"2021-11-12T17:59:59","modified_gmt":"2021-11-12T15:59:59","slug":"an-annual-overview-of-financial-results","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/q3-2021\/an-annual-overview-of-financial-results\/","title":{"rendered":"An annual overview of financial results"},"content":{"rendered":"

An annual overview of financial results<\/span><\/span>\u00a0<\/span><\/h1>\n<\/div><\/div>
<\/div>

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.\u00a0<\/span>\u00a0<\/span><\/p>\n

Instead, we consider it more relevant to present the results in the \u201clast 12 months\u201d format,\u00a0all the more\u00a0so 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:<\/span><\/p>\n<\/div><\/div>

<\/div>
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/span><\/td>\nTrailing 12M\u00a0<\/strong>
\nQ3 2020\u00a0<\/strong><\/td>\n		Trailing 12M\u00a0<\/strong>
\nQ3 2021\u00a0<\/strong><\/td>\n		Evolution<\/strong>\u00a0<\/span><\/td>\n<\/tr>\n
Revenues from contracts with clients<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 119,957,887\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 113,621,356\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-5,28%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Cost of sales\u00a0<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 (94,835,741)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 (89,170,522)<\/span>\u00a0<\/span><\/td>\n\n

-5,97%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Gross margin<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 25,122,146\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 24,450,834\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-2,67%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Other incomes<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 556,568\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0\u00a0 3,494,770\u00a0<\/span>\u00a0<\/span><\/td>\n\n

527,91%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Sales\/distribution costs<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 (7,731,664)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 (8,861,836)<\/span>\u00a0<\/span><\/td>\n\n

14,62%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Administrative costs<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 (10,982,372)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 (11,473,862)<\/span>\u00a0<\/span><\/td>\n\n

4,48%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Profit\/(loss) \u2013 Equivalent securities<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 (256.274)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0\u00a0 786,704\u00a0<\/span>\u00a0<\/span><\/td>\n\n

406,98%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Financial income<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 351,604\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0\u00a0 8,323,069\u00a0<\/span>\u00a0<\/span><\/td>\n\n

2267,17%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Financial expenses<\/span>\u00a0<\/span><\/td>\n\n

\u00a0 (4,322,779)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 (3,555,663)<\/span>\u00a0<\/span><\/td>\n\n

-17,75%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Gross profit<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 2,737,229\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 13,164,016\u00a0<\/span>\u00a0<\/span><\/td>\n\n

380,92%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Tax<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 (602.345)<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 (1,431,572)<\/span>\u00a0<\/span><\/td>\n\n

137,67%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Net Profit, of which:<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 2,134,884\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 11,732,444\u00a0<\/span>\u00a0<\/span><\/td>\n\n

449,56%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Net profit attributable to parent company (A)<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 1,908,599\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0 11,613,014\u00a0<\/span>\u00a0<\/span><\/td>\n\n

508.64%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

Non-controlling interests<\/span>\u00a0<\/span><\/td>\n\n

\u00a0\u00a0 226,285\u00a0<\/span>\u00a0<\/span><\/p>\n<\/td>\n

\u00a0\u00a0 119,430\u00a0<\/span>\u00a0<\/span><\/td>\n\n

-47.34%<\/span>\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div>

<\/div>

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 \u2013 but it is only breakeven we will still reach the profit target approved by the GMS.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>