Panevezio Statybos Trestas
Notification on material event
Unaudited Performance Results of Panevezio statybos trestas AB and the Group for the First Half of 2020
Referring to the unaudited data, over the six months of 2020, the turnover of Panevezio statybos trestas AB amounted to 33.105 mln. Euros, that is by 34.3 per cents lower compared to the six months of the year 2019 when the turnover was 50.414 mln. Euros. In the first half of 2020, the Company incurred the net loss in the amount of 11.697 mln. Euros, whereas over the first half of 2019 the Company made the net profit in the amount of 0.807 mln. Euros. The fine imposed by the Competition Council in the amount of 8.5 mln. Euros and the accrued interest thereof in the amount of 1.4 mln. Euros had the greatest impact on the negative result of the Company. The decrease in the turnover was significantly influenced by the activities suspended by the large client as a result of COVID-19. Furthermore, signing of the awarded contracts and start dates of work have been postponed to a further period due to quarantine, and a larger part of their execution have been shifted to the next year.
The total consolidated revenue of Panevezio statybos trestas AB Group amounted to 37.148 mln. Euros and decreased by 24.7 per cents compared to that for the first half of 2019 when the revenue of the Group had been 49.324 mln. Euros. Over the accounting period the Group incurred the net loss in the amount of 12.648 mln. Euros, whereas over the first half of 2019 the Group made the net profit in the amount of 0.903 mln. Euros.
Over the six months of 2020, EBITDA – earnings before interest, taxes, depreciation and amortization – of the Company was -10.730 mln. Euros with 1.592 mln. Euros over the first half of the year 2019. EBITDA of the Group was -9.473 mln. Euros over the six months of 2020 compared to 1.797 mln. Euros over the first half of 2019.
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