Despite rampant global inflation, Global Cosmed posted nearly 21 million in consolidated EBITDA. This is an increase of 61% compared to the same period before COVID (2019) and 22% lower than in 2020. Meanwhile, the company announces that the most important investment this year is still ahead of us.
Global Cosmed is developing despite the unfavorable situation on the global market of raw materials and packaging. The financial results were mainly influenced by unforeseen, sudden and abrupt changes in the prices of components for production. Despite this, the Capital Group generated a higher EBITDA in the period of 9 months of 2021 compared to the same period before the pandemic (9M’19). The company’s result is a consequence of the implemented policy of optimization and reorganization in all areas.
?7 machines purchased for our factories in Poland and Germany in the last quarter and the first relaunches of our brands announced for this year (Apart brand products and Sofin softeners) are the visible results of both GC’s solid financial situation and consistent implementation of the strategic goals announced for this year,? says Magdalena Mielimonka, Vice President of the Management Board of Global Cosmed S.A.
The aforementioned stable financial situation consists of a decrease in net debt by over PLN 10 million and an improvement in financial liquidity ratios this year compared to the previous year. It is extremely important in the context of the continued upward trend in the prices of raw materials and components for the production of household cleaning agents and chemicals. However, in the opinion of the company’s management board, the difficult market situation only motivates people stronger to look for solutions reducing manufacture, sales and environmental costs.
?Every company is facing similar challenges today as a result of global economic trends or the delayed effects of the pandemic. We cannot affect all factors (e.g. prices or availability of raw materials). However, thanks to the financial background, we have the ability to flexibly respond to investment opportunities, and we boldly and effectively implement new solutions to improve the efficiency of our production. Apart from the automation of production lines, we have also introduced an integrated approach in the design process, thanks to which we are looking for optimization at every stage of the value chain and in every department. And soon we will inform you about our flagship investment, which will set new trends in the production of an assortment similar to that offered by Global Cosmed,? summed up Magdalena Mielimonka.