INFORM LYKOS sales reached 75 million Euro, up 7.5 percent in 2021

INFORM LYKOS announced its consolidated financial statements for last year. During 2021, Group sales increased by 5.2 million Euro or 7.5 percent compared to 2020 and reached 75 million Euro.

This increase is mainly due to the contribution of the digital transformation solutions provided by the Group which increased by 68.0 percent compared to 2020, as well as the increase of all other product categories by 2.5 percent in total.

Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) of the Group increased by 18.4 percent or 1.1 million Euro from 6.1 million Euro reported in 2020 to 7.2 million Euro in 2021, driven from improved product mix, with higher contribution in the profitability of the digital transformation solutions despite the unprecedented increase in the cost of raw materials and energy.

In the Romanian market, the sales reached 45.2 million Euro compared to 40.9 million Euro reported in 2020, recording an increase of 4.3 million Euro or 10.6 percent.

This increase was mainly due to a) the increased contribution of digital transformation solutions by 2.8 million Euro in the area of electronic document management and digitization, as well as scanning and archiving services, and b) by 1.5 million Euro from the highest demand for security forms as the market responded positively to the easing of measures in relation to COVID-19 restrictions resulting in a recovery of the domestic consuming.

Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) of 2021 amounted to 5.6 million Euro compared to 4.3 million Euro in 2020, significantly improved by 1.3 million Euro or 29.3 percent, as a result of higher sales with improved mix mainly driven by the digital transformation solutions.

The Group operating cash flow generated in 2021 reached 4.2 million Euro compared to 5.5 million Euro in 2020. This decrease of 1.3 million Euro was mainly related to the increase in trade receivables due to higher sales in last months of the year. The Net Debt of the Group is reported at  21.6 million Euro in 2021 from 18.6 million Euro in 2020. This increase by 3 million Euro is related to the acquisitions and investments that took place in 2021.