VTC GARAGESALE PLUS

VTC GARAGESALE PLUS

At mid-year, the operative profit increased from minus 2.7 million euros to plus 0.1 million euros. In the quarter under review, the earnings before interest and taxes (EBIT) increased from minus 1.0 million euros to plus 1.1 million euros. In spite of the significant increase in costs resulting from these developments, which are passed on to customers only in part and in a dialogue in a spirit of partnership, FRIWO has succeeded in achieving a turnaround to profitability. The positive performance was still hampered by ongoing bottlenecks in the availability of major electronic components and COVID-19-related logistical issues. Boosted primarily by high demand in the e-mobility business and positive developments in the other three segments, the quarterly revenue climbed by 52 % from 29.0 million euros to 44.2 million euros. Ostbevern, 11 August 2022 – FRIWO Group was able to maintain its dynamic revenue growth in the second quarter of 2022. Forecast for 2022 as a whole increased to a growth in revenues in the double-digit percentage range, slightly positive full-year result is anticipated.Balance sheet quality improved, equity ratio at a solid 20.4 %.E-mobility joint venture with UNO MINDA Group in India encounters very strong customer interest Letters of Intent signed for a medium-sized double-digit million euro figure.Order book reaches all-time high of 127.0 million euros.Second quarter also profitable after taxes EBIT turnaround to 0.1 million euros in spite of perceptible pressure on materials expenses.Half-year revenue increases by 52 % from 48.2 million euros in the same period last year to 73.2 million euros.

Vtc garagesale