Financial results Education Division
From a financial point of view, the evolution of the Education Division in 9 months 2020 compared to 2019 shows an increase of RON 900K of the gross margin generated during the period, due to the better load obtained on human resources (higher number of students in the class, lower number of trainers needed to deliver the same value to students). Thus, the operational profit of the period is with RON 600K higher than last year in the similar period.
| 30/Sep/20 | 30/Sep/19 | Evolution | |
| Revenues from contracts with customers | 7,422,150 | 7,416,337 | |
| Revenues from the provision of services | 7,422,150 | 7,416,337 | |
| Cost of sales | (3,205,185) | (4,083,824) | -21.52% |
| The cost of selling goods / materials | (727,404) | (628,889) | 15.66% |
| Hours – Individual | (2,477,781) | (3,454,935) | -28.28% |
| Gross margin | 4,216,965 | 3,332,513 | 26.54% |
| Other incomes | 302,693 | 637,012 | -52.48% |
| Sales / distribution expenses | (2,112,517) | (1,418,682) | 48.91% |
| Team expenses | (1,777,191) | (1,149,707) | 54.58% |
| Advertisement | (335,326) | (268,975) | 24.67% |
| Administrative costs | (2,107,858) | (2,562,536) | -17.74% |
| Staff expenditure | (909,562) | (758,222) | 19.96% |
| Depreciation (and Rent) | (530,784) | (662,222) | -19.85% |
| Operational profit | 299,283 | (300,993) |