Catom Annual Report 2020 EN

Financing

Developments

Wholesale The core activity wholesale – Catom Distribution B.V., trading name Catom PDM – operates in a dynamic market with high price volatility. Prices in the inter national market fluctuate significantly each day, increasingly even during the course of a day. Catom participates in this trend by adjusting its prices at various times during the day. The buying behaviour of customers is heavily price-driven. Catom responds promptly to this trend. By improving its supply process and, consequently, its opportunities to blend biofuels, Catom has managed to enhance its competitive position in this market. This has led to a positive effect on the margins in the year under review, combined with a limited decrease in the volume of this wholesale segment, which is Catom’s largest segment, by 9%.

The investments in 2020 were all financed with internal funds. The total credit facility amounts to € 50 million. The cash flow from operating activities increased from € 9,827,415 to € 10,436,173, stock and operating capital effects, in conjunction with the investment and financing activities result in a decrease of cash of well over € 18.5 million. The financing structure was changed in March 2021; the modification and extension of the existing agreement was achieved with the help of our own bank and a second, also Dutch, bank. The agreement provides for a larger credit facility at favourable terms.

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