Ercros earned profits of 17 million in 2022 first quarter

• First quarter 2022 profits were EUR 17.2 million, nearly twice the EUR 8.7 million earned in the same quarter of 2021.
• The first quarter 2022 adjusted ebitda was EUR 31.8 million, 49% more than the EUR 21.3 million in the same quarter of 2021.
• These results are in spite of the sharp spike in the cost of energy, raw materials, and transport, thanks to the company's proven ability to keep up with the demand for its products.
• Just as in 2021, the company's active engagement in the markets for chemical products combined with high production rates at its manufacturing plants were key to attaining the outstanding results recorded in the first quarter of 2022.
• We expect the trends observed in 2021 to continue in the first half of 2022, even making allowance for the war in the Ukraine and the situation in international energy markets. The second half of the year is hazier, and it is harder to make a distinct forecast.

Income statements for the 2022 and 2021 first quarters