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In the first half of 2020/2021, the IZOBLOK Group generated consolidated operating revenues of PLN 85,078 thousand, 17.6% less than in the corresponding period of the 2019/2020 financial year and an operating loss of PLN 4,583 thousand was generated, while EBITDA (operating profit/loss plus depreciation and amortization) in the reported period amounted to PLN 4,903 thousand and was 64.1% less than in the corresponding period of the previous year.

Standalone operating revenue in the first half of 2020/2021 amounted to PLN 46,966 thousand, thus, they decreased by 6.4% as compared to the corresponding period of the previous year.

Operating profit in the first half of 2020/2021 amounted to PLN 2,858 thousand and accounted for 6.1% of sales revenue (first half of 2019/2020 PLN 6,580 thousand). Operating profit plus depreciation and amortisation (EBITDA ratio) amounted to PLN 6,161 thousand and accounted for 13.1% of sales revenue whereas in H1 2019/2020 this ratio amounted to PLN 9,834 thousand.

The first half of the 2020/2021 financial year was a period full of dynamic changes and huge challenges caused by the strong negative impact of the coronavirus pandemic on the automotive industry. The spread of the COVID-19 pandemic contributed to a significant decline in sales revenue during the months of May through August 2020, followed by the September-October period of this year. The Group recorded a return of sales revenues to the level comparable in previous years.

Although the scale of the negative impact of the COVID-19 pandemic is still difficult to estimate precisely, I believe that our well-established and solid financial position will allow us to meet the challenges resulting from the current economic situation in Poland and worldwide. In the coming months we are going to observe the situation in the automotive market very closely in order to adjust our production capacities to changing conditions in the Polish and global automotive industry, says Przemysław Skrzydlak, President of IZOBLOK S.A.

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