Brief: Balta Group Expects 2019 Adjusted EBITDA To Be Below Last Year

Belysse NV

13/12/2019 06:16

Dec 13 (Reuters) - Balta Group NV  BALTA.BR :
    * SINCE Q3 RESULTS, OUR COMMERCIAL BUSINESS HAS CONTINUED
PERFORMING WELL WITH SOLID MARGINS
    * NOW EXPECTS ITS 2019 FULL YEAR ADJUSTED EBITDA TO BE BELOW
LAST
YEAR BY MID-TO-HIGH SINGLE DIGIT €MILLIONS (BEFORE IFRS 16)
    * IN THE US, SHIPMENTS OF OUTDOOR PROGRAMS FOR 2020 SEASON,
ARE
NOW EXPECTED TO BE DELAYED TO EARLY 2020 INSTEAD OF STARTING IN
DECEMBER 2019
    * RESIDENTIAL BUSINESS: TOP-LINE FOR QUARTER WILL BE
IMPACTED AS
ANTICIPATED BY REVERSAL OF Q3 PRE-BREXIT STOCKING BY SOME OF OUR
CUSTOMERS (ADDS "RESIDENTIAL BUSINESS")
    * IMPLEMENTATION OF NEXT, OUR THREE YEAR EARNINGS
ENHANCEMENT
PROGRAM, CONTINUES TO PROGRESS WELL AND WE REMAIN CONFIDENT
ABOUT THE SIGNIFICANT IMPACT IT WILL HAVE ON OUR EARNINGS

Source text for Eikon:  urn:newsml:reuters.com:*:nNDLbYPbtM
Further company coverage:  BALTA.BR 

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