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On 26 August 2020, IZOBLOK presented the Group’s annual financial results covering the period from 1 May 2019 to 30 April 2020.

In the shadow of events related to the COVID-19 pandemic, IZOBLOK Group’s revenues amounted to PLN 184.6 million, consolidated EBITDA amounted to PLN 17.2 million with a net loss of PLN 4.5 million, on a standalone level EBITDA amounted to PLN 14.5 million and net profit PLN 3.4 million. Operating cash flow on the consolidated level amounted to PLN 34 million, while on the individual level it amounted to PLN 24 million. A drop in the Group’s debt on account of loans, borrowings and leases from PLN 65 million to PLN 53 million shows that debt remains at a safe level. Due to the COVID-19 pandemic and the resulting lock-down and subsequent decline in sales, we cannot directly compare the data obtained to 2018/2019.

Although the scale of the negative impact of the COVID-19 pandemic is still difficult to estimate precisely, I believe that the results achieved in 2019/2020 and our solid financial position will allow us to meet the challenges arising from the current economic situation of the Polish and global automotive industry.

As a Group we focus on strong foundations, therefore we put great emphasis on cost optimization and increasing efficiency. We want the Group to remain financially stable and process-ready for dynamic growth or potential acquisitions. We are aware of the changes taking place in our industry and realize that only strong, stable entities will be able to compete with global players. We see good prospects for the near future for IZOBLOK Group companies.

On behalf of the Management Board, I would like to thank the Supervisory Board, our shareholders, clients and employees, without whom we would not have been able to implement our plans, and above all to carry out the Group’s plan to adapt to the new market circumstances caused by the outbreak of the coronavirus pandemic – says Przemysław Skrzydlak, President of IZOBLOK SA.

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