Brief: Atenor Announces Half-Year Result At Eur -53.8 Million

Atenor SA

16/08/2023 07:44

Aug 16 (Reuters) - Atenor SA  ATEO.BR :
    * HALF-YEAR RESULT: -€53.8 MILLION, (INCLUDING €39.2 MILLION
OF
IMPAIRMENT LOSSES)
    * HALF-YEAR RESULT: DEVELOPMENT PORTFOLIO: 35 PROJECTS
TOTALLING
SOME 1,200,000 M²
    * THE FIRST HALF OF 2023 CLOSED WITH A CONSOLIDATED NET LOSS
(GROUP SHARE) OF -€53.81 MILLION, DOWN FROM THE €9 MILLION
PROFIT POSTED FOR THE FIRST HALF OF 2022.
    * FINANCIAL EXPENSES WILL RISE SHARPLY IN 2023, AS A RESULT
OF THE
HIGH LEVEL OF DEBT, RISING INTEREST RATES, HIGHER BANK MARGINS
AND ANCILLARY FINANCIAL COSTS
    * THE GROSS AMOUNT OF THE LAST DIVIDEND PAID, ON 28 JUNE
2023 WAS
€2.67 (VERSUS €2.54 IN 2022)
    * SECOND HALF OF THE YEAR SHOULD THEREFORE SEE THE LOSS
INCREASE,
LEADING TO A SUBSTANTIAL LOSS FOR THE FULL YEAR 2023
    * AT THE CLOSE OF THE ANNUAL GENERAL MEETING THE BOARD OF
DIRECTORS PROPOSED AN OPTIONAL DIVIDEND. 60.35% OF SHAREHOLDERS
VOTED IN FAVOUR OF THIS OPTION
    * IT IS PREMATURE AT THIS STAGE TO GIVE A MORE PRECISE
CONSOLIDATED EARNINGS FORECAST FOR 2023
    * ATENOR EXPECTS A RETURN TO A NORMAL PACE OF PROJECT SALES
AS
FROM EARLY 2024
    * REVENUE FROM ORDINARY ACTIVITIES AS AT 30 JUNE 2023
AMOUNTED TO
€31.04 MILLION
    * THE NET FINANCIAL LOSS AMOUNTS TO -€13.32 MILLION,
COMPARED TO
-€7.78 MILLION FOR THE FIRST HALF OF 2022
    * H1 OPERATING LOSS AMOUNTS TO -€34.29 MILLION
    * END-H1 CONSOLIDATED SHAREHOLDERS’ EQUITY AMOUNTS TO
€223.31
MILLION

Source text: https://tinyurl.com/25bkjcpu
Further company coverage:  ATEO.BR 

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