Delfi posts 20.8% rise in Q3 Ebitda to US$6.4m

CHOCOLATE confectionery company Delfi P34 : P34 0%posted earnings before interest, taxes, depreciation and amortisation (Ebitda) of US$6.4 million for the third quarter ended September, up 20.8 per cent from Ebitda of US$5.3 million in the corresponding period last year.

In a bourse filing on Tuesday (Nov 16), Delfi said the growth was due to higher gross profit margin and tighter control on operating expenses.

Gross profit margin rose 2.8 percentage points to 27 per cent in Q3, from 24.2 per cent a year ago.

Revenue rose 4.1 per cent to US$87 million in Q3, from US$83.6 million in the year-ago period, on the back of improvements in Indonesia and regional markets.

For the first 9 months of FY2021, Ebitda was 6.6 per cent higher at US$32.9 million, while revenue increased 6 per cent to US$297.5 million.

Quarter on quarter, however, Ebita and group revenue fell 25.3 per cent and 4.5 per cent, respectively. The group said this was due to a seasonally weaker quarter following the Lebaran festive season in Indonesia.

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"We will continue to focus our efforts to reach out to our targeted consumers, especially Gen-Z and millennials, introducing healthier and contemporary products, as well as with the use of digital marketing," the group said.

Shares of Delfi closed flat at 74.5 Singapore cents on Tuesday (Nov 16), before the quarterly update.

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