Apranga Group interim report for three months of 2021
The retail turnover (including VAT) of Apranga Group reached EUR 25.5 million in 1st quarter 2021 or by 44.3% less than in 2020.
Due to epidemic coronavirus (COVID-19) infection, from 16 December 2020, all the Group’s stores in Lithuania were temporarily closed. Stores in Lithuania with a separate entrance from the outside and a sales area not exceeding 300 square meters have been open since 15 February 2021. All stores with a separate entrance from the outside have been open since 15 March 2021 (in comparison to last year, all Group’s stores were temporarily closed from 16 March 2020). In Latvia, stores are temporarily closed from 19 December 2020 (in comparison to last year, stores operating in shopping malls could not work on weekends from 28 March 2020 in Latvia). In Estonia, all Group’s stores are temporarily closed from 11 March 2021, and from 6 March 2021 to 11 March 2021 stores were not allowed to work on weekends (in comparison to last year, stores operating in shopping malls were closed from 27th March 2020 in Estonia). These temporary store closures had a significant impact on the Group's generated turnover, earned profit and, accordingly, financial ratios for the first quarter of 2021. Management estimates that due to the COVID-19 pandemic and the temporary closure of stores, the Group lost about EUR 30 million of turnover (including VAT), did not receive about EUR 9 million of gross profit and did not earn about 2.5 million of profit before income tax in 3 months 2021.
The unaudited consolidated loss before income tax of Apranga Group amounted to EUR 3.0 million in 3 months 2021, while Apranga Group has made the loss of EUR 2.2 million in the same period of 2020.
EBITDA of Apranga Group reached EUR 2.1 million in 3 months 2021, and it was EUR 2.8 million in corresponding the year 2020 period.
The unaudited interim consolidated financial statements of Apranga Group for three months of 2021, as well as managers’ confirmation letter are ready for acquaintance in the attachments. The interim information is also available at: .
Rimantas Perveneckas
Apranga Group General Manager
Attachments
