Brief: STS Group Sees 'Significant' Increase in EBITDA
20/04/2023 06:46
Apr 20 (Reuters) - STS Group: Significant FY sales revenue growth in Europe partially compensates the slowdown in China. * Slight decrease in Group FY revenue by 2.9% to EUR 235.1 million (2021: EUR 242.0 million) in line with expectations * FY EBITDA declines to EUR 9.6 million (2021: EUR 19.1 million) due to delay in material price increase compensations from customers in Europe and lower volumes in China * Expansion of North America business in focus for 2023 * Forecast 2023: Slight sales revenue growth compared to previous year and significant increase in EBITDA and adjusted EBITDA expected