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IZOBLOK summarises H1 2021/2022

In the first half of 2021/2022, the IZOBLOK Group generated consolidated operating revenues of PLN 69 223 thousand, 18.6% less than in the corresponding period of the FY 2020/2021, and an operating loss of PLN 9 730 thousand was generated, while EBITDA (operating profit/loss plus depreciation and amortisation) in the reported period amounted to PLN -1 138 thousand.

Separate operating revenues in the first half of 2021/2022 amounted to PLN 43 012 thousand. Thus, they decreased by 8.4% as compared to the corresponding period of the previous year.

Operating loss in the first half of 2021/2022 amounted to PLN 2 385 thousand (first half of 2020/2021 profit of PLN 2 857 thousand). Operating profit/loss plus depreciation and amortisation (EBITDA) amounted to PLN 414 thousand and accounted for 1.0% of sales revenue whereas in H1 2020/2021 this ratio amounted to PLN 6 161 thousand.

“During the 6 months of the financial year 2021/2022, the COVID-19 pandemic and supply chain disruption mainly due to semiconductors had a key impact on the results. Our customers, the automotive manufacturers, took steps to reduce production or, in more restrictive cases, decided to temporarily suspend production processes. As a result, we faced the challenge of planning our operations in periods of at most two weeks. In addition, the high operating expenses burdened the Group’s result.

We are continuously monitoring market trends in the automotive industry and threats caused by the COVID-19. We are taking adequate measures to ensure the safety of employees, the continuation of the Group’s operational functioning, the fulfilment of its obligations, the maintenance of financial liquidity and the minimisation of the impact of the negative effects of this situation on the Group’s profitability,” says Przemysław Skrzydlak, President of IZOBLOK S.A.”