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Serbia's furniture maker Simpo swings to net loss in 2021

Serbia's furniture maker Simpo swings to net loss in 2021 Simpo AD

BELGRADE (Serbia), May 10 (SeeNews) - Serbian furniture manufacturer Simpo [BEL:SMPOV] recorded a net loss of 1.8 billion dinars ($16.4 million/15.5 million euro) last year, compared to a net profit of 2.6 billion dinars in 2020, it said.

The revenues dropped 53% year-on-year, to 3.49 billion dinars, Simpo said in 2021 annual financial report filed to the Belgrade Stock Exchange on Friday.

The company's domestic sales increased by 3.5% to 1.43 billion dinars, while its international sales slid 13.8% to 811.2 million dinars.

Its expenses rose 9.7% on the year to 5.23 billion dinars.

The total assets of Simpo decreased to 3.22 billion dinars at the end of 2021 from 5.99 billion dinars a year earlier.

(1 euro = 117.688 dinars)

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