MIG S A : ANNOUNCEMENT - Key financial figures of the 1st quarter 2024
April 25, 2024 at 10:31 am
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ANNOUNCEMENT
Key financial figures of the 1st quarter 2024
Significant improvement in the Group's EBITDA amounting to a profit of € 240k compared to losses of € 370k in the corresponding quarter of 2023.
Significant reduction in losses to € 155k compared to € 21.8m in the corresponding quarter of 2023. The results of the 1st quarter of 2023 had been negatively impacted by an amount of € 20.7m, of which € 14.2m was related to the operating result of the discontinued operation and € 6.5m to the financial cost of the Company's loan obligations.
Equity portfolio return of 9.8% and fixed income portfolio return of 3.4% for the 1st quarter of 2024.
Profits frοm Company's portfolio management amounted to € 488k compared to € 95k in the corresponding period of 2023.
Equity attributable to Owners of the Parent company amounted to € 121.7m.
The Company has zero leverage.
Cash and cash equivalents of the Company amounted to € 9.2m.
Group's turnover amounted to €2.1m compared to €1.8m in the comparative period of 2023, recording an increase of 13%.
The subsidiary company RKB achieved a significant improvement across all financial figures in the 1st quarter of 2024, i.e. an 11% increase in sales, a 15% increase in gross profit, a 15% increase in EBITDA, an improvement of 1 percentage point in gross profit margin and profit before tax of € 48k compared to losses of € 52k in the 1st quarter of 2023.
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Summary of key financial results(1)
GROUP
01.01‐
01.01‐
Change
(consolidated in € k)
31.03.2024
31.03.2023
Sales
2,085
1,844
13%
Gross profit
1,170
991
18%
EBITDA
240
(370)
-
EBIT
169
(441)
-
Losses for the period from continuing
(155)
(7,688)
-
operations
Losses for the period from discontinued
0
(14,146)
-
operations
(1) The above‐mentioned financial figures are unaudited.
Key figures of financial position(2)
GROUP
31.03.2024
31.12.2023
(consolidated in € k)
Total assets
219,802
220,194
Total liabilities
98,092
98,329
Total equity
121,710
121,865
(2) The above‐mentioned financial figures are unaudited.
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Marfin Investment Group SA Holdings published this content on
25 April 2024 and is solely responsible for the information contained therein. Distributed by
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25 April 2024 14:30:03 UTC.
MIG Holdings SA is a Greece-based investment holding company. The main activity of the Group is focused on buyouts and equity investments in Greece, Cyprus and the wider South-Eastern Europe area. The Company operates under the following segments: Food and Dairy, through Vivartia; Transportation, through MIG Shipping, Attica, MIG Aviation 1, MIG Aviation 2 and Athenian Engineering; Information Technologies (IT) and Telecommunications, through Singularlogic and Tower Technology; Financial Services, through Marfin Investment Group and MIG Aviation Holdings; Healthcare Services, through Hygeia and Marfin Capital, as well as Private equity, through MIG Leisure, CTDC, MIG LRE Croatia, Sunce, MIG Real Estate (Serbia), RKB, MIG Environment and MIG Media.