Forte had PLN 110.83 million of net profit, and PLN 233.28 million of EBITDA in 2021

Forte Furniture Factories recorded PLN 110.83 million of consolidated net profit attributable to shareholders of the parent company in 2021 compared to PLN 49.55 million of profit a year earlier, the company said in the report.

The operating profit amounted to PLN 178.59 million compared to PLN 142.33 million profit a year earlier. The EBITDA profit amounted to PLN 233.28 million compared to PLN 198.12 million a year earlier.

Consolidated sales revenues amounted to PLN 1,326.91 million in 2021 compared to PLN 1,160.01 million a year earlier.

"The EBITDA result of the Forte capital group amounted to PLN 233 million, compared to PLN 198 million in 2020 and PLN 141 million in 2019, which, combined with 'lean' working capital management, allowed us to reduce the debt ratio (financial debt / EBITDA) from 3.0 at the end of 2019 to 1.6 at the end of 2021 "- wrote President Maciej Formanowicz in a letter to shareholders.

On a standalone basis, the net profit in 2021 was PLN 90.38 million compared to PLN 33.32 million in profit a year earlier.

Forte Furniture Factory is a furniture manufacturer, listed on the Warsaw Stock Exchange since 1996. In 2021, the company had PLN 1.33 billion in consolidated revenues.

Source