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S SABAF SABAF GROUP PRESS RELEASE Ospitaletto ( BS ) , 13 May 2021 SABAF : FIRST - QUARTER 2021 RESULTS APPROVED CONSOLIDATED RESULTS FOR THE FIRST QUARTER 2021 REVENUE : € 64.8 million ( € 43.9 million in the first quarter of 2020 ) , + 47.8 % EBITDA : € 15.1 million ( € 7.7 million in the first quarter of 2020 ) , + 96.5 % EBITDA / REVENUE : 23.3 % ( 17.5 % in the first quarter of 2020 ) EBIT : € 11 million ( € 3.4 million in the first of 2020 ) , + 228 % NET PROFIT : € 8.5 million ( € 1.5 million in the first quarter of 2020 ) , + 447 % 2021 ESTIMATES REVISED FURTHER UPWARDS Sales expected to be higher than € 240 million ( previous forecast € 210 million ) Operating profitability ( EBITDA % ) estimated to be over 21 % of sales ( previous forecast 20 % ) Chief Executive Officer Pietro Iotti : " Sabaf , once again , for the third consecutive quarter , presents record numbers that are steadily increasing , which together with the excellent prospects for further growth that we foresee for the whole of 2021 , confirm the validity of our Business Plan , strengthen us and project us with determination towards further ambitious goals . In fact , we envisage to exceed € 240 million in turnover in 2021 , while improving profitability , and to accelerate and pep up our international development plan . The Group actively pursues new opportunities of external growth ” . The Board of Directors of Sabaf S.p.A. met today in Ospitaletto to approve the Interim Management Statement of the first quarter of 2021 . Consolidated results for Q1 2021 In the first months of 2021 , the Sabaf Group is continuing to increase its market share , thanks to the significant contribution of new projects with strategic customers and the industrial and commercial synergies created with the most recently acquired companies . At the same time , the household appliance market is confirming the decidedly positive trend that began in the second half of 2020 . The Group's final figures for the first quarter of 2021 show for the third consecutive quarter record results and a progressive growth : revenue amounted to € 64.8 million , up 47.8 % from € 43.9 million in the first quarter of 2020. The sales figure is significantly higher ( + 9 % ) also compared to € 59.5 million of the last quarter of 2020 , which had already represented an all - time high . In the first quarter of 2021 , the electronics division recorded the most significant growth rate ( + 85 % compared to the first quarter of 2020 ) , thanks to the development of international sales and the launch of products for new applications , such as electric hob boards . The EBITDA of the period was € 15.1 million , equal to 23.3 % of sales , up 96.5 % compared to the € 7.7 million ( 17.5 % of sales ) of the first quarter of 2020 . The full utilisation of production capacity made it possible to maintain a high level of profitability and to absorb the negative impact of the increase in raw material costs .