Endo Finance plc - Quarterly Update

On 22 June 2022, Endo Finance plc issued an update providing information about the financial performance of Endo Group in Q1 2022. In this respect, Endo explained that revenues contracted by 7.7% to €2.51 million reflecting a reduction in the ship-to-ship operations and mooring master services which however are expected to recover to 2021 levels in H2 2022.

Despite the reduction in income, EBITDA surged by 27.3% to €1.03 million as the Group implemented a number of cost savings measures which also translated into improved profit margins. As a result, Endo also recorded an increase in operating profit (+10.4% to €0.55 million) and net profit (+32.9% to €0.37 million).