Entering the first quarter, the company recorded double-digit growth rates across its biggest markets in Europe. This is the result of a great team effort by all of our employees. Despite the adverse economic climate, we still used the year to make Kaltra a better company.
The course of the pandemic negatively impacted the European market, but, nevertheless, Kaltra was able to grow revenues in this market in Q1 by 27%. At the same time, Kaltra significantly improved its operating profitability, measured by earnings before interest, taxes, depreciation, and amortization (EBITDA).
The primary driver of the strong sales performance in Q1 2021 was Kaltra’s business with loyal existing customers in all European markets and the acquisition of new customers based on a quality-oriented approach. Steady Kaltra sales growth is expected to continue in Q2-Q4 2021.