Brief: Deceuninck H1 Adjusted EBITDA After IAS 29 At EUR 57.8 Mln

Deceuninck NV

17/08/2022 09:46

Aug 17 (Reuters) - DECEUNINCK NV  DECB.BR :
    * H1 SALES AFTER IAS 29 € 506.8M (€ 404.0M BEFORE IAS 29 LY)
    * H1 ADJUSTED. EBITDA AFTER IAS 29 € 57.8M (€ 51.0M BEFORE
IAS 29
LY) 
    * H1 NET RESULT AFTER IAS 29 € 7.5M (€ 20.6M BEFORE IAS 29
LY) 
    * END-H1 NET DEBT AFTER IAS 29 € 121.2M (€ 97.0M BEFORE IAS
29 LY)
    * RECORD SALES AND SOLID EBITDA
    * FIRM COMMITMENT TO REDUCE CO2 EMISSIONS BY 60% BY 2030
    * AT THE SAME TIME, WE HAVE MADE IMPORTANT PROGRESS IN
RESTORING
OUR OPERATIONAL EFFICIENCY, ESPECIALLY IN THE US - CEO
    * IT IS UNCLEAR WHETHER THE SLOWDOWN SEEN TOWARDS THE END OF
THE
SECOND QUARTER AND CONTINUING IN THE THIRD WILL BE TEMPORARY OR
RATHER PROTRACTED
    * THE ECONOMIC ENVIRONMENT FOR THE SECOND HALF YEAR IS VERY
UNCERTAIN
    * IN EUROPE, WE EXPECT THE HIGH ENERGY PRICES AND THE EU
GREEN
DEAL TO SUPPORT RENOVATION ACTIVITY, WHILE LARGER NEW BUILD
PROJECTS MIGHT BE DELAYED DUE TO THE HIGH RAW MATERIAL PRICES
    * THE TRANSITION TO THE ELEGANT LINE UP WILL BE FURTHER
ROLLED OUT
AND IS ESTIMATED TO TAKE ANOTHER 24 TO 36 MONTHS
    * ALTHOUGH THE SUPPLY CHAIN SITUATION HAS CLEARLY IMPROVED,
OCCASIONAL SHORTAGES CANNOT BE RULED OUT
    * WE ARE CAUTIOUS ABOUT THE SHORT-TERM DEVELOPMENT OF OUR
BUSINESS
IN TURKEY BECAUSE OF INFLATION AND ITS IMPACT ON CONSUMER
CONFIDENCE: DEMAND WILL REMAIN VOLATILE IN THE MONTHS AHEAD
    * LOWER DEMAND IN THE US RELATED TO AN ECONOMIC SLOWDOWN
WILL
IMPACT VOLUMES IN H2

Further company coverage:  DECB.BR 

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