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Enervit, revenues drop in 2020 (-18%)

Boom of e-commerce, which however does not compensate for the losses caused by the pandemic

Enervit, a Lombard company active in the sports food supplement and functional nutrition market, closed 2020 with revenues of € 51.8 million, down by 18% compared to 2019. "In particular, Italy which represents 79.9% of revenues showed a decrease of 16.7%, compared to 31 December 2019. The foreign countries, which represented 13.7% of total revenues, recorded a decrease of 30.2%", explains a note, which also highlights that e-commerce sales increased by 225%. EBITDA amounted to 3.7 million, down compared to 5.2 million at the end of 2019. "This result is essentially attributable to the decline in revenues following the Covid-19 pandemic, however offset by a significant reduction in operating costs". The net result was negative for 1.9 million, compared to the profit of 0.9 million at the end of 2019. The net financial position at 31 December 2020, net of the IFRS 16 effect, was negative for 6.1 million, an improvement compared to 31 December 2019 when it was negative for 7.8 million.

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EFA News - European Food Agency