Brief: Afarak Estimates H1 EBITDA Of EUR 4-5 Mln, Decrease Of 70% Vs 2023

Afarak SE

01/07/2024 13:52

July 1 (Reuters) - Afarak Group SE  AFAGR.HE :
    * DECREASE OF TURNOVER AND EBITDA
    * ESTIMATES, THAT EBITDA FOR FIRST HALF OF YEAR 2024 IS AT
4-5
MILLION EURO, WHICH REPRESENTS A DECREASE OF 70% COMPARED TO
2023
    * TURNOVER FOR FIRST HALF OF YEAR 2024 IS EXPECTED TO BE AT
70-75
MILLION EURO WHICH REPRESENTS A DECREASE OF 26%
    * IMPORTS, ESPECIALLY FROM INDIA, HAVE INCREASED AND PRICE
PRESSURE FROM THESE IMPORTS HAS BEEN EVEN HIGHER THAN EXPECTED
    * SANCTIONS AGAINST RUSSIAN IMPORTS HAVE SHOWN LITTLE
AFFECTS SO
FAR
    * EXTREMELY LOW YEN IS ALSO ALLOWING OUR MAIN COMPETITOR
FROM
JAPAN TO OPERATE AGGRESSIVELY IN THIS SEGMENT
    * FERROALLOYS SEGMENT: POSITIVE DEVELOPMENTS IN THIS SEGMENT
FOR
2024 HAS BEEN CONFIRMED AND POSITIVE SIGNS ARE CONTINUING

Source text for Eikon:  ID:nGNEbGN9YL 
Further company coverage:  AFAGR.HE 

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