The Thrace Group's Turnover from continuing operations amounted to €428.4 million, increased by 26.1% compared to 2020, while Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations amounted to €103.8 million, higher by 43.2%, compared to the previous year.
Also, Earnings before Taxes (EBT) from continuing operations amounted to €83.9 million, increased by 61.1% compared to the year 2020. It should be noted that according to estimates of the Management for the year 2021, Earnings before Taxes at the Group level, related to the products of the existing portfolio used in personal protection and health applications, amounted to € 51.8 million.
In terms of liquidity, the Group further improved its liquidity position by attaining a Net Cash of € 9.3 million, as the cash and cash equivalents exceeded loan liabilities. The total Equity on 31.12.2021 amounted to € 252.3 million compared to € 176.1 million on 31.12.2020.
Regarding the first quarter of 2022, the Management of the Group remains optimistic for its satisfactory performance, given the difficult conditions prevailing in the current period. It is estimated that a significantly stronger profitability will be achieved, compared to the corresponding period before the pandemic, but it will settle lower than the profitability of the corresponding period of the previous year. However, the comparison with the previous year becomes extremely difficult to be substantiated, due to the extraordinary circumstances of both that period and the current one.
