IZOBLOK S A : SUMMARISES 1ST QUARTER OF 2021/2022

The IZOBLOK Group generated sales revenues of PLN 35.4 million in the 1st quarter of 2021/22, i.e. 10.4% more compared to the first quarter of the previous financial year, the negative impact of the COVID-19 pandemic can be seen at the margins achieved. In the reporting period the Group generated operating loss of PLN 4,963 and the EBITDA margin (operating profit/loss plus depreciation) in the reporting period amounted to PLN 540,000.

"The reported 1st quarter of the financial year 2021/2022 was still heavily impacted by the negative effects of the COVID-19 pandemic and semiconductor supply shortages resulting in reduced production at automotive plants." - says Przemysław Skrzydlak, President of IZOBLOK SA.

Despite the difficult economic environment in the first quarter of 2021/22 IZOBLOK has managed to acquire new and significant orders from, among others, Adient Ltd & Co. KG for a total amount of PLN 218.3 million."I would like to assure you that our actions are aimed at full utilization of the IZOBLOK Group's potential, effective management of available resources and reducing negative impact of the COVID-19 on the results achieved. We expect the domestic and global economy to move toward gradual improvement in the wake of difficult times. The Group continues its development activities in the current year and still intends to increase sales and improve financial performance. We will continue to implement manufacturing and organizational improvements, which will help us with the implementation of our strategy so we can be optimistic about the future." - added the President of IZOBLOK SA, Przemysław Skrzydlak.