Dr. Thilo Senst reports
GBLT ANNOUNCES FIRST QUARTER 2021 FINANCIAL RESULTS
GBLT Corp. has released its first quarter financial results for the three-month period ended March 31, 2021.
"We are extremely pleased with our financial results this quarter, having more than tripled our turnover and improving our profitability compared to last year," said Dr. Thilo Senst, founder and chief executive officer of GBLT. "We are now delivering our PPE solutions to the world's largest retailers nationally throughout Europe, with planned expansion into other markets over the course of this year as well. Consumers throughout Europe have grown to trust the Dr. Senst brand and we have now expanded our product offering in 2021 significantly, including the launch of Dr. Senst electronic PPE. While we have made incredible progress with our clients, we still see a long runway of growth within these clients to increase our turnover, add new product lines and penetrate new markets.
"We are on track to achieve record revenue and profitability in 2021, and are seeing continued momentum in Q2. Furthermore, our mobile energy division continues to grow, with our large retailer clients being able to remain open during lockdown restrictions being considered essential business. As a result, they have substantially increased orders with us, which is clearly reflected in our numbers. As well, we still anticipate a number of clients that are still suffering due to the COVID-19 pandemic to begin coming back on-line over the course of this year, which presents an opportunity to even further exceed our expectations this year. As we look towards the remainder of this year, we are extremely excited about the opportunities ahead of us and are confident that we will deliver the strongest performance in company history."
- Revenue for the three months ended March 31, 2021, was 8.8 million euros compared with 2.6 million euros for the same period in 2020, an increase of 234 per cent. The increase in revenue is directly attributable to a significant increase in demand for the company's personal protective equipment solutions and mobile energy products.
- Gross profit for the three months ended March 31, 2021, was 900,000 euros compared with 100,000 euros for the same period in 2020.
- Gross margin for the three months ended March 31, 2021, was 9.7 per cent compared with 3.5 per cent for the same period in 2020. The increase is directly attributable to the introduction and sales of Dr. Senst brand of medical products.
- Operating expenses for the three months ended March 31, 2021, totalled 500,000 euros compared with 300,000 euros for the same period in 2020.
- Adjusted earnings before interest, taxes, depreciation and amortization for the three months ended March 31, 2021, totaled 500,000 euros compared with (200,000 euros) for the same period in 2020.
- Net income for three months ended March 31, 2021, totalled 400,000 euros compared with net loss of 300,000 euros for the same period in 2020.
Three months ended March 31,
EBITDA 2021 2020
Net income (loss) for the period 401,731 euros (245,456 euros)
Depreciation 9,864 11,712
Interest and financing fees 31,096 44,975
EBITDA 442,691 (188,769)
Share-based payments 3,493 -
Adjusted EBITDA 446,184 euros (188,769 euros)
About GBLT Corp.
GBLT, through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage, battery and PPE 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 PPE is primarily sold throughout Europe under the Dr. Senst brand, which is owned and operated by GBT GmbH.
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