Sun lightOlympia Group, a member of the International Investment Group, posted strong financial results for the first half of 2021 with an 180% increase in EBITDA and a 68% increase in sales compared to the first half of 2020. Another strong, the company continues to implement its diversified business plan investing in facilities, infrastructure, expansion, research and development, and human resources. At the same time, Sunlight continues to maximize the production capacity of lead acid and lithium ion energy storage systems, as well as develop, produce and launch new products.
Sales of sunlight in the first half of 2021 amounted to 126 million euros, compared to 75 million euros during the same period last year, an increase of 68%. This is due to the dynamic repositioning of # in the global market and the addition of new customers, as well as the confidence in the company that the existing customers have strongly demonstrated. Besides the quick recovery of the market, the company was well prepared to develop more quickly than its competitors.
Despite the fact that the COVID-19 pandemic has caused significant disadvantages to the sector due to some shortages – for example in semiconductors used in industrial vehicles and lithium batteries – Sunlight’s positive performance of the H1 2021 is a testament to its flexibility and agility in response. Both challenges and opportunities arise.
Sunlight also announced that adjusted EBITDA for the first half of 2021 was €13.1 million, compared to €4.7 million recorded in the first half of 2020. The impressive 180% rise was attributed to increased sales and lower production costs. – Especially in the range of motor batteries – Adding new OEM (Original Equipment Manufacturer) customers, expanding the company’s product range.
Two innovative new products were launched in the first half of 2021: the semi-traction lithium-ion battery, ElectroLife, and the battery management system for lead acid energy storage systems, KnoWi.
Commenting on the release of financial results for the first half of 2021, Sunlight CEO Lampros Bisalas noted: “I am very proud of Sunlight’s strong performance in the first half. The results show that we are actively monitoring and dealing with an unprecedented situation, such as the one defined by the pandemic. We identify risks Accurately and address them through robust business planning and effective mitigation measures.We overcome challenges and create opportunities to complete our transformation into a fast-growing and fast-growing technology company specializing in integrated and innovative energy storage solutions and contributing to a more sustainable future.
The market is facing strong pressure due to higher raw material prices and this is expected to impact the broader supply chain for at least 12 months. Despite the uncertainty, we feel confident that we will maintain our positive financial performance throughout the year, and that we have the foundation for better performance in the years to come.”
To increase production, and therefore growth, Sunlight is implementing a strategic and diversified investment plan to expand the capacity of both lead acid and lithium ion energy storage products. This includes upgrading the company’s units in Greece (Xanthi and Komotini), Italy (Verona) and the USA (North Carolina), with the installation of infrastructure, modern machinery and automated assembly lines. This five-year business plan entails a total investment of €560 million.
Investments are also underway in human capital. On June 30, 2021, Sunlight and its subsidiaries collectively employed 1,206 employees, 229 people or 23.4% more than the first half of 2020. Only the R&D department was staffed with more than 70 highly skilled researchers and scientists, while the company Dedicated to attracting talented professionals available – from both Greece and abroad. In doing so, he maintained and increased his contribution to social security and taxes, which recorded a remarkable increase of 21% between the first half of 2020 and the first half of 2021.
Sunlight continues its transformation into a non-technology-driven company that makes the most of Industry 4.0 principles – including the use of big data, artificial intelligence (AI), and machine learning tools. The company also continues to upgrade and digitize the production process. It continues to provide greater flexibility, functionality, and performance in the development, manufacture, and distribution of lead-acid and lithium-ion batteries for industrial and consumer applications.