This way, Dominion shows the strength to return to its levels of growth in the second half of the year.
The half-yearly results announced today by DOMINION cover the peak months of this unprecedented global health emergency, in the face of which the company has shown a capacity for resilience and flexibility that have enabled it to stay in the black in all business areas and announce a healthy balance sheet.
DOMINION has achieved an adjusted turnover of 403 million euros, 5% down on the same period last year, representing only 3% less turnover in constant currency.
EBITDA, EBIT and Net Profit have been hit, but have remained in the black even though the company has already carried out much of the provision and restructuring planned for the year. EBITDA has risen to €30M, giving a Net Profit of nearly a million euros.
Moreover, good management of operating funds and efforts to contain expenditure and capex have led to a positive cash flow, keeping the balance sheet at high levels of financial strength and solvency, with a positive net cash position of 102 million euros.
By segments, the hardest-hit area is B2B Services due to the temporary closure of industrial clients' plants and the minimum services run on telecommunications and electrical networks. This area is already showing signs of recovery with the end of restrictions and the recovery in demand. With regard to B2B 360 Projects, the impact has been very limited and no projects, either under way or in the portfolio, have been cancelled. With regard to the B2C segment, the attraction of new clients has slowed down due to the forced closure of the physical sales channel, but the Smart House project continues to display considerable growth compared to the figures for the previous year, with over 200,000 active clients.
The results for the first half of the year reaffirm the company's forecasts for the end of the year, when it expects growth in sales and positive cash flow and profits. With the gradual recovery of economic activity, the company is on course for a 2021 in which it expects to return to the levels of turnover and profitability it had before the health crisis, as well as resuming the continued growth set out in its Strategic Plan.
Dominion is a technological company specialized in multi-technical Services and specialized engineering Solutions, which divides its activity in two segments: the B2B, which is ate the same time divided in Services and 360 Projects, and the B2C segment. Dominion applies its knowledge on processes, technology and innovation to achieve efficiency in the business processes of its clients; and it believes in Digitalization as the catalyst and differential value of its business model.
With presence in more than 35 countries, more than 1,000 clients and over 9,000 employees, it reached a turnover of 947 million euros and an EBITDA of 103 million euros in 2019. The company bases its strategy in a unique culture and management model and in an ambitious growth plan. Dominion is publicly listed in the Spanish stock market since April 2016 (DOM:BME).
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