Sisal posts 23% revenue rise in first nine months of this year
In the first nine months of 2021, Sisal’s total revenues amounted to €459.8 million, up 23% compared to €373.1 million at 30 September 2020.
Revenues continued to increase in Q3, chiefly reflecting Sisal’s commitment to driving an acceleration in its digitalisation process. Results at 30 September 2021 highlighted a sharp increase in the online segment, with revenues almost doubling from €96.9 million in the first nine months to €185.6 million in the same period of 2021.
Revenues of the retail segment amounted to €196.9 million for the first nine months of 2021, with a marked recovery in Q3 in particular, thanks to the gradual reopening of Italian points of sale after the period of Covid-19-related restrictions.
The company also successfully forged ahead with its internationalisation strategy: revenues of the international segment stood at €77.3 million for the first nine months of 2021, increasing compared to €12.6 million for the same period of 2020, thanks to the recent expansion in Morocco, Turkey and Spain.
In the first nine months of 2021, the Company’s EBITDA was €169.5 million, up 36.8% compared to €123.9 million at 30 September 2020, thus resulting in EBITDA margin of 36.9%, improving compared to 33.2% at 30 September 2020.
Sisal’s adjusted EBIT grew by 75.2% to €86.6 million for the first nine months of 2021 compared to €49.4 million for the same period of 2020. Adjusted net result for the period was €51.9 million, sharply increasing compared to €12.6 million for the same period of 2020.
Net Financial Position (NFP) at 30 September 2021 was €149.8 million, improving compared to €202.3 million at 31 December 2020.
“Results for the third quarter of 2021 were very positive, sharply increasing compared to 2020, which had been marked by compelling challenges, but also by even greater opportunities for the whole sector,” commented Francesco Durante, Sisal CEO. “Today’s results confirm the soundness of our choices and let us look at the market with confidence and the awareness of the excellent progress we have made on the three sustainability pillars and on digitalisation and internationalisation — the core principles of our growth strategy.”