First half 2021 results presentation
Ezentis improves its revenues and margins in the first half of the year
- Revenues rose 9.8% to 189 million euros and backlog stood at 773 million euros
- Reduced losses from 13.9 million euros in the first half of 2020 to 11.3 million euros
- Ebitda rises to 20.3 million euros, up 30%, with a margin of 10.7%
Ezentis, a company that deploys, operates and maintains telecommunications and energy network infrastructures, reported revenues of €189.4M in the first six months of the year, up 9.8% on the same period in 2020 in constant currency. Ebitda also rose 30% in constant currency to €20.3M with improved efficiency reflected in a rise in margins to 10.7%.
Ezentis achieved strong order intake from January to June, and now has a backlog of €773M (twice the revenues of the last 12 months) focused on its key markets (Brazil, Spain, Germany and Portugal).
The company has reduced losses compared to the first half of 2020, from €13.9M to €11.3M. The company has reduced losses compared to the first half of 2020, from €13.9M to €11.3M. The losses were due to currency depreciation, mainly in the Pacific area and Brazil, and in the transformation of the operating model, with a 27% reduction in the workforce from December 2019 to June 2021, as well as the Covid effect (mainly in Latin America) and climate in Spain (Filomena).
The debt ratio has been reduced from 3.7 to 3.1 times EBITDA, accompanied by a 48% decrease in financial expenses in constant currency.
Ezentis announced the sale of the Pacific countries (Mexico, Colombia, Peru and Chile), with an estimated debt reduction of €34.9M associated with the sale price (€43.7M) and the debt assumed by the buyer (€11.2M), a transaction that will be executed in October.
The company maintains its prospects for 2023, which are to increase its presence in Europe to 70%, strengthen the Energy area to 40% and achieve revenues of more than €1,000M.
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