Annual results of Ercros for 2021
Barcelona, 24 February 2022. - Ercros closes 2021 with outstanding results: EUR 86 million in ebitda; EUR 43 million in profit; and EUR 22 million in shareholder remuneration
- FY 2021 profit reached EUR 43 million, an increase of nearly 7x from 2020.
- As a result, shareholder remuneration this year will be the highest ever given by Ercros: EUR 21.5 million between the cash dividend (EUR 0.085 per share) and the amount allocated to the treasury share buyback for amortisation.
- Adjusted ebitda in 2021 reached EUR 86 million, 70% higher than the total for 2020.
- Despite the sharp rise in energy costs, raw materials, and transport, healthy demand has meant that the increase in the average price of products sold by Ercros has far exceeded the increase in the variable cost per unit. The company’s active presence in the chemical market, coupled with the high occupancy rate of its production plants, were key to the excellent results obtained in 2021.
- Ercros reduced its debt by EUR 19 million, placing it at EUR 66 million as of 31 December 2021. Ercros maintains a strong financial position, with EUR 139 million in available liquidity.
- Given the caution mandated by the international energy market situation, we expect that the first half of 2022 will follow the patterns observed in the second half of 2021. For the second half of 2022, visibility is lower, making it difficult to formulate a more concrete forecast.
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