Its turnover plunged 44.8% on the year to RON70.7 million in the first six months of 2022.
The net profit margin was 22.9% in the first half of 2022 versus 12.8% in the same period of 2021.
The company had total revenues of RON73.8 million in January-June 2022, down 44.3% on the year. Its EBITDA (earnings before interest, taxes, depreciation and amortization) was a loss of RON13 million (vs a loss of RON11.6 million in year-earlier period) mostly due to a significant decline in revenues and to the implementation of accounting policies by the company’s new management team. The accounting policies consisted in eliminating the policy of capitalizing marketing costs as a result of refuting the recurrence hypotheses and in reducing the capitalization percentage of software development costs to 50% from 95%.
During the analysed period, the value of Vivre stocks of products plunged 70% down to RON13 million as a result of a decline in sales, the challenges of setting up stocks due to suppliers reducing payment deadlines and as a result of a drastic optimization of the product stocking activity.
In 2021, Vivre Deco reported net loss of RON84.8 million, as compared to a net profit of RON7.4 million in 2020. Its operating income reached RON250 million in 2021, down 16.7% from 2020, and its EBITDA was RON72.7 million loss, from a profit of RON15.5 million in 2020.