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ANNUAL REPORT 2021

Un­lock­ing tomorrow.

2021 will be remembered as an exceptional year for Ascendum as we surpassed 1 Billion Euros in turnover, for the first time in our history. A milestone that sets the tone for the years to come.

Looking at the future, we foresee many challenges taking shape, but we are ready to unlock progress.

Having in mind what the market asks of us and with all the key elements — Talent, Passion, Innovation, and Direction — we are prepared to embrace the opportunities and changes the future will bring.

Join us on this journey to unlock tomorrow.

Go to Annual Report'21

MESSAGE FROM THE CHAIRMAN OF THE EXECUTIVE BOARD OF DIRECTORS

“So, the historic sales and earnings records we achieved in 2021 are due mainly to the fact that all of us, without exception, believed it would be possible to return to pre-pandemic market and sales levels while employing substantially lower levels of resources."

João Manuel de Pinho Mieiro

CEO of Ascendum Group

Truth be told, 2021 began to take shape at the beginning of the second half of the previous year.

 

When we saw that the production rhythm at VCE factories was showing signs of a certain normalisation, we began to believe that all the changes we introduced in the company under the motto ‘do more with less’ could lead us to spectacular results, as soon as the market recovered to earlier levels. It’s a fact that during Q1 2021, with the resurgence of the pandemic, some issues re-emerged. But the truth is that we all saw the market eager to make up for lost time.

 

So, the historic sales and earnings records we achieved in 2021 are due mainly to the fact that all of us, without exception, believed it would be possible to return to pre-pandemic market and sales levels while employing substantially lower levels of resources. When we mention resources, we are obviously thinking of reduced operating costs - logically reflected in the Net Results we obtained - but we would also highlight the volume of assets and liabilities whose management allowed us to present an unprecedented picture of the Balance Sheet.

 

We would really like to thank all those who contributed with their effort and dedication to make 2021 a truly historic year for the Ascendum Group.

Main Economic, Financial And Operational Indicators

Turnover

1,025M
780M
2021
2020

EBITDA

111,391
78,214

EBIT

66,017
33,961

EQUITY

200,693
160,574

Turnover Evolution by Geography

170
192
Portugal
83
98
Spain
255
347
USA
92
150
Turkey
19
47
Mexico
162
187
Central Europe*
2021
2020
*Austria, Hungary, Czech Republic, Slovakia, Romania, Croatia, Slovenia, Moldova and Bosnia and Herzegovina.

people distribution

total employees 1,464

PT
USA
MX
ES
AT
CZ
HR
SK
HU
RO
AO
MZ
TR
After-sales
Sales and Marketing
Accounting and Finance
Human Resources
IT
Others

ANNUAL REPORT

The Annual report is available here for viewing or downloading. Below you will also find the editions from the previous years.

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