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GBLT Corp
Symbol GBLT
Shares Issued 112,525,619
Close 2020-11-30 C$ 0.155
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GBLT earns 575,618 euros in Q3

2020-11-30 10:54 ET - News Release

Dr. Thilo Senst reports

GBLT ANNOUNCES THIRD QUARTER 2020 FINANCIAL RESULTS

GBLT Corp. has released its third quarter financial results for the three- and nine-month period ended Sept. 30, 2020.

"We continue to see strong financial results as a result of growing demand from our large network of clients throughout Germany and the rest of Europe," said Dr. Thilo Senst, founder and chief executive officer of GBLT. "Our PPE segment of the business, branded under Dr. Senst, has been an enormous catalyst for GBLT while our mobile energy and battery segments continue to grow at a healthy rate. Regardless of whether the COVID-19 pandemic has a resolution in the near future, PPE is here to stay as a modern staple of the family shopping cart. Dr. Senst has become a trusted solution for people throughout Europe in these uncertain times and we expect to continue to supply them going forward."

Dr. Senst continued: "As we look ahead in 2021, we anticipate continued revenue growth and profitability from our existing line of products, through the introduction of additional PPE products and innovative mobile energy and battery systems. Being profitable consistently allows our cash balance to grow and ultimately leads us to be able to turn over more inventory for our clients resulting in more sales and an increased bottom line."

  • Revenue for the three months ended Sept. 30, 2020, was 9.7 million euros compared with 6.6 million euros for the same period in 2019, an increase of 47 per cent. Revenue for the nine-month period ended Sept. 30, 2020, was 19.5 million euros compared with 14.9 million euros for the same period in 2019, an increase of 31 per cent.
  • Gross profit for the three months ended Sept. 30, 2020, was one million euros compared with 400,000 euros for the same period in 2019, an increase of 173 per cent. Gross profit for the nine-month period ended Sept. 30, 2020, was 2.3 million euros compared with 1.2 million euros for the same period in 2019, an increase of 95 per cent.
  • Gross margin for the three months ended Sept. 30, 2020, was 10 per cent compared with 5.4 per cent for the same period in 2019. The increase is directly attributable to the introduction and sales of Dr. Senst brand of medical products. Operating expenses for the three months ended Sept. 30, 2020, totalled 400,000 euros compared with 400,000 euros for the same period in 2019.
  • Operating expenses for the nine months ended Sept. 30, 2020, totalled 1.3 million euros compared with 1.3 million euros for the same period in 2019.
  • Adjusted earnings before interest, taxes, depreciation and amortization for the three months ended Sept. 30, 2020, totalled 610,000 euros compared with zero euros for the same period in 2019. Adjusted EBITDA for the nine months ended Sept. 30, 2020, was 1.1 million euros compared with 170,000 euros for the same period in 2019.
  • Net income for three months ended Sept. 20, 2020, totalled 570,000 euros compared with net loss of 60,000 euros for the same period in 2019. Net income for nine months ended Sept. 30, 2020, was 950,000 million euros, compared with net loss of 100,000 million euros for the same period in 2019.

About GBLT Corp.

GBLT, through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage, battery and personal protection equipment to some of the largest retail chains across the globe. GBT is also an official licensee for Kodak mobile storage systems and Agfaphoto mobile energy products. The company's personal protection equipment is primarily sold throughout Europe under the Dr. Senst brand, which is owned and operated by GBT GmbH.

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