Brief: B&S Group H1 EBITDA Of EUR 40.6 Mln

B&S SA

22/08/2022 06:08

Aug 22 (Reuters) - B&S GROUP SA  BSGR.AS :
    * 19.4% TOPLINE GROWTH IN FIRST HALF 2022, YET MARGINS
IMPACTED BY
ECONOMIC DEVELOPMENTS
    * H1 OVERALL TURNOVER INCREASED BY 19.4% TO EUR 983.2 M
(15.1% ON
A CONSTANT CURRENCY BASIS)
    * H1 NET PROFIT AMOUNTED TO EUR 16.7 M (HY 2021: EUR 21.8 M)
    * H1 NET CASH FROM OPERATIONS AMOUNTED TO EUR -23.8 M (HY
2021:
EUR -29.1 M)
    * OUR COMPANY IS STRATEGICALLY IN GOOD SHAPE TO NAVIGATE
THROUGH
CURRENT ECONOMIC CIRCUMSTANCES AND CONTINUE TO EXECUTE ON OUR
2021 - 2023 STRATEGY
    * NET DEBT / EBITDA AT JUNE 30, 2021 STOOD AT 3.7
    * WE REMAIN CAUTIOUS IN OUR TURNOVER AND EBITDA PROJECTIONS
FOR
SECOND HALF OF YEAR DUE TO UNPREDICTABLE MACRO-ENVIRONMENT WITH
CONTINUED INFLUENCE OF RUSSIA-UKRAINE WAR AND ZERO-COVID POLICY
IN ASIAN COUNTRIES
    * H1 EBITDA AMOUNTED TO € 40.6 M
    * LOOKING AT H2 2022, WE EXPECT TURNOVER GROWTH TO CONTINUE
ALBEIT
NOT AS STEEP AS IN THE FIRST HALF OF 2022
    * FOR THE SECOND HALF OF 2022 WE ARE ANTICIPATING A SHIFT
FROM
PREMIUM BEAUTY AND LIQUOR SALES TO THE MEDIUM SEGMENT, WHICH
GENERATES LOWER MARGINS
    * CONSIDERING THE EFFECT OF GLOBAL ECONOMIC DEVELOPMENTS ON
OUR
GROSS MARGINS AS WELL AS ON OUR STAFF COSTS AND OTHER OPERATING
EXPENSES, WE EXPECT OUR EBITDA MARGIN FOR THIS YEAR TO BE AROUND
5%
    * GIVEN CURRENT ECONOMIC CIRCUMSTANCES AND ASSOCIATED
UNPREDICTABILITY, WE REFRAIN FROM AN OUTLOOK BEYOND 2022 ON OUR
SET FINANCIAL OBJECTIVES

Source text for Eikon:  ID:nNDL6Fz5bP 
Further company coverage:  BSGR.AS 

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