Brief: Balta Group Q1 Adjusted EBITDA Down At EUR 6 Mln

Belysse NV

13/05/2022 06:33

May 13 (Reuters) - BALTA GROUP NV  BALTA.BR :
    * BALTA GROUP NV 2022 QUARTER ONE RESULTS
    * Q1 CONSOLIDATED REVENUE OF €75.0M (+15.0% YOY)
    * Q1 ADJUSTED EBITDA OF €6.0M (-33.6% YOY) AND ADJUSTED
EBITDA
MARGIN OF 8.0% (13.9% IN Q1 2021)
    * DECLINING EBITDA REFLECTS A PARTIALLY ANTICIPATED MARGIN
COMPRESSION VERSUS A STRONG Q1 2021 AND RAPID RECENT SURGE IN
INPUT COSTS
    * FURTHER PRICE INCREASES WILL BE INTRODUCED IN DUE COURSE
TO
DEFEND MARGINS
    * PRICE INCREASES HAVE BEEN IMPLEMENTED ACROSS ALL DIVISION
IN
RESPONSE TO THESE INPUT PRICE INCREASES
    * GROUP NET DEBT AT THE END OF MARCH 2022 INCREASED BY
€20.2M TO
€350.9M FROM €330.7M AT FYE 2021
    * DURING Q1, WE EXPERIENCED A RECOVERY OF OUR COMMERCIAL
BUSINESS
WITH A STRONG ORDER BOOK CONVERSION TO SALES AS COVID-19
RESTRICTIONS EASED - CEO
    * THE RESULTS OF OUR RESIDENTIAL PA BUSINESS SUFFERED FROM
THE
SIGNIFICANT HEADWINDS CAUSED BY THE UNPRECEDENTED AND SUDDEN
COSTS INCREASES WHICH REQUIRE FURTHER COMMERCIAL ACTION IN Q2 -
CEO

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