The Endo Group generated €7,286,002 in revenue during the first nine months of 2020, compared with €3,929,384 during the same period last year. Additionally, the Group’s profit amounted to €756,845, compared with €239,058 during the same period in 2019.
The objective of Endo Group is to acquire, finance, manage and charter commercial vessels, in addition to providing ship-to-ship services.
Endo Finance released the figures for Q3 2020 following consultation with the parent company’s Board of Directors, and went on to publish the unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income of Endo Ventures Ltd for the period ended 30th September 2020.
Endo Ventures Ltd is the parent company of the Endo Group and its direct and indirect subsidiaries include, amongst others, Endo Finance, International Fender Providers Ltd, IFP International Fender Providers Limited and Endo Properties Ltd, the latter three entities being the joint and several guarantors of the €13,500,000 4.5% Unsecured Bonds 2029 of a nominal value of €50,000 per Bond issued at par by Endo Finance.
When comparing revenue generated in 2020 with 2019, the Group remarked that the context must be taken into consideration. It highlighted that operations of some of the Endo Group’s subsidiary companies did not commence from the beginning of the year in 2019, and only started after the bond issue by Endo Finance p.l.c., and were fully operational as from the third quarter 2019.
In fact, revenue for third quarter 2020, amounting to €2,061,287, is roughly in line with the same quarter in 2019 (€2,035,951).
During the nine-month period under review, the Group’s profit amounted to €756,845 (2019: Profit of €239,058), whereas profit for the third quarter amounted to €231,386 compared to €225,539 in the previous year’s same quarter.
The Group’s activities are expected to remain consistent for the foreseeable future.