Performance of Atende S.A. and Atende Group in the first quarter of 2021 typical for the first quarter of the year
In the first quarter of 2021, the Atende Group generated a level of sales comparable to that normally achieved in the first quarter of the year. The poorer consolidated result than in the first quarter of the previous year results primarily from the sale at the turn of 2020 and 2021 of shares in two subsidiaries whose results were not consolidated in the current year. A very good financial standing of the Atende Group in connection with its cash reserves is worth emphasising: the balance of cash as at the end of the first quarter of 2021 amounted to PLN 59.1 million.
In the first quarter of 2021, the Atende Group recorded sales revenue of PLN 39.7 million, which represents a decrease by 6% y/y (PLN 42.0 million), while the gross profit on sales amounted to PLN 8.9 million, which means a decrease by 39% y/y. As a consequence, the operating result was negative in the reporting period and stood at PLN (1.6) million compared to PLN (0.7) million in the first quarter of 2020; EBITDA reached PLN 0.7 million (down by 70% y/y), and the Group recorded a net loss of PLN (1.9) million, a level similar to that of the previous year – PLN (1.8) million. Decreases are understandable, if we note that the contribution of both companies sold, i.e. Atende Software and Atende Medica, to the consolidated account in the first quarter of 2020 amounted to PLN 9.1 million of sales revenue and PLN 1.4 million of profit at the EBITDA level.
In turn, Atende earned sales revenue of PLN 35.7 million in the first quarter of 2021, which represents an increase by 14% y/y. The decrease in gross profit on sales by 15% y/y (to PLN 6.2 million), with general and administrative expenses similar to those of the previous year, translated into poorer performance. At the operating level, a loss of PLN (1.7) million was recorded (against PLN (0.6) million a year earlier), EBITDA was PLN 1 thousand (PLN 1.1 million a year earlier), and the company posted net loss of PLN (1.6) million against PLN (1.4) million in the first quarter of 2020.
In the first quarter, Atende S.A. achieved slightly poorer results, albeit similar to those of the previous years – such is the nature of the industry and we have already accepted this temporary fluctuation. As far as the expectations for the entire year’s performance are concerned, we still believe them to be good, including in the telecommunications and media sector which is of key importance to us – says Roman Szwed, President of the Management Board at Atende S.A.
It is worth noting the continuous development of sales and good prospects for innovative solutions of the Atende Group, such as the blockchain-based durable medium in the financial sector or technologies for smart power engineering.
Recently, the Sejm amended the provisions of the energy law which provide for a schedule for the installation of intelligent electricity meters. As one of the few Polish companies, we are ready today, together with our partners, to provide technology in this area that can compete with technologies provided by global suppliers – which is confirmed by the recent agreements in this respect concluded by the consortium of Apator Group companies and Phoenix Systems from the Atende Group with Energa Operator – says Roman Szwed