IZOBLOK SUMMARISES IQ 2020/2021
Summing up the financial results obtained after the first quarter of 2020/2021, The IZOBLOK Group generated consolidated operating income of PLN 32,078 thousand, 36.0% less than in the corresponding period of the 2019/2020 financial year. After the first quarter of 2020/2021, the Group recorded an operating loss of PLN 5,606 thousand, while EBITDA in the reported period amounted to PLN – 792 thousand.
“The results for the first quarter of fiscal 2020/21 are heavily impacted by the COVID-19 pandemic, which has caused a slowdown in the global economy negatively impacting the automotive industry in which we operate. In the period from May to July 2020, compared to the previous financial year, we recorded a significant reduction in orders from our contractors. We know that the financial year 2020/2021 is and will be more difficult, nevertheless, the development activities undertaken by us are already bringing the desired results allowing us to look at the coming months with more optimism”. – says Przemysław Skrzydlak, President of IZOBLOK SA.