The Company hereby announces that during the meeting of its Board of Directors held on Thursday, 16th
June 2022, the Directors considered and approved the Company’s Audited Financial Statements for the
financial year ended 31st December 2021. Copies of the Company’s Audited Financial Statements for the
financial year ended 31st December 2021 are attached to this announcement and are also available for
viewing and download on the following link on the Company’s website:
Annual Financial Statements for year ending December 2021 | AST Group plc.
The Board of Directors recommended to the Annual General Meeting of the Company that no dividend be
The Company notes that a material variance resulted between the projections that were published on 29
April 2021 via company announcement AST30 and actual results registered for the financial year.
The projections had projected a consolidated profit after tax of €4k for the financial year ended 31 December
2021. However, the Company and its subsidiaries (referred to as the Group) generated a profit for the
financial year ended 31 December 2021 of €465k, and a total comprehensive income of €2.2 million. This
positive variance in the income statement is mainly driven by higher revenue (projections: €26.3 million;
actual: €29.7 million) and higher gross profit margins (projections: 3.3%; actual: 4.7%).
Going forward, the Board of Directors of the Company expect the Group to continue increasing its product
base and fleet of vessels in order to expand its business and generate profits.
The Company further announces that its annual general meeting was also held on the 16th June 2022 and
1. the Company’s Annual Report and Audited Financial statements for the financial year ended 31st
December 2021 were approved;
2. Horwath Malta were re-appointed as auditors of the Company and to the Directors were authorized
to fix their remuneration; and
3. the Directors were re-appointed in accordance with the Articles of Association of the Company.
Dr. Katia Cachia
17th June 2022