PRIM improves its operating profit by 8.77% with an increase in sales of close to 10%
The Prim Group closed the first quarter of 2020 with a 9.46% increase in sales, bringing its net turnover to more than €38.3 million compared to €35 million during the same period in the previous year. This growth is the result of, among other factors, the strong performance of the new product ranges introduced in previous years, which are beginning to bear fruit thanks to the changes made to organisational structures.
EBITDA amounted to nearly €5 million, an increase of 10.94%, while operating profit grew by 8.77% to almost €3.6 million.
These figures demonstrate the strong performance of the Group’s overall activity, which, up until 14 March, the date on which the declaration of the State of Alarm was made due to the COVID-19 pandemic, had been recording highly significant improvements for every item on its income statement. However, the downturn of the financial performance, as a result of the temporary drop in the markets, did have a negative impact on the overall net profit, which fell by 17% to €2.6 million.
Nevertheless, the group has strengthened its financial and cash position to ensure liquidity and to have a competitive advantage when it comes to overcoming the current crisis and taking advantage of the eventual opportunities that will arise.
In the Management Report for the first quarter, presented today to the CNMV, the hospital supply company has set out the measures put in place to combat the negative effects of COVID-19 and to protect its stakeholders; employees, customers, suppliers, subcontractors and society as a whole.
Among these measures is the financial support given to private clients, providers and suppliers to help with the continuity of services, to save jobs and to participate in the corporate solidarity chain implemented in Spain. This has included the donation of equipment and the provision of installations and qualified technical and human resources to hospitals.
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