Statement of the results for the first half of 2021

Ercros quadruples profits

• Ercros' profits for the first half of 2021 (1H21) amounted to EUR 20.27 million, 4.6 times higher than the EUR 4.37 million reached in the same period of the previous year.
• The adjusted ebitda for the first half of 2021 was EUR 44.55 million compared to EUR 25.96 million in 1H20; an increase of 71.6%.
• The increase in adjusted ebitda (EUR 18.59 million) is mainly due to the major impetus provided by the increased contribution, with a net contribution of EUR 29 million, which far outweighs the negative impact of EUR 10.42 million caused by the increase in other operating costs, including the increase in international freight costs (approximately EUR 4 million) and fixed costs (EUR 3.4 million).
• Ercros reduced its debt by EUR 6.56 million, bringing it to EUR 78.27 million at 30 June 2021. Despite an economic environment still dominated by health restrictions, Ercros has maintained a solid financial position with more than EUR 91 million in liquidity.
• As a whole, the 2021 financial year will be clearly better than 2020. We expect the economy to continue on its path to recovery and the markets in which Ercros is present to maintain high levels of activity.

Income statements for the 2021 and 2020 first halfs