Brief: Brunel International Q2 Revenue Up At EUR 289 Mln
29/07/2022 06:46
July 29 (Reuters) - Brunel International NV BRUN.AS :
* Q2 REVENUE ROSE 35 PERCENT TO 289 MILLION EUR
* Q2 EBIT UP 31% TO EUR 10.0 MILLION, 24% LIKE-FOR-LIKE
* DIVESTMENT OF RUSSIAN OPERATIONS COMPLETED
* COMPLETED EARLIER ANNOUNCED SALE OF OUR RUSSIAN OPERATIONS
TO
LOCAL MANAGEMENT
* END-PERIOD: DUE TO APPRECIATION OF RUSSIAN RUBLE, OUR NET
INVESTMENT IN THESE ACTIVITIES INCREASED TO EUR 19 MILLION (FROM
EUR 14 MILLION AT 31 MARCH 2022)
* DIVESTMENT: WE AGREED A GROSS PURCHASE PRICE OF EUR 12
MILLION,
DENOMINATED IN RUSSIAN RUBLES TO BE RECEIVED IN FOUR EQUAL
ANNUAL INSTALLMENTS WITH FIRST PAYMENT BEING ON 31 DECEMBER 2023
* DIVESTMENT: FAIR VALUE OF THIS RECEIVABLE OF EUR 12
MILLION IS
DETERMINED AT EUR 9 MILLION AS AT 30 JUNE 2022
* CASH BALANCE AT 30 JUNE 2022 WAS EUR 58.3 MILLION (EUR
112.0 PER
31 DECEMBER 2021)
* ANTICIPATE HIGH DEMAND FROM LARGE CUSTOMERS FOR
ENGINEERING
POWER IN RENEWABLES, ENERGY AND MINING TO CONTINUE IN Q3 2022
* SUPPORTED BY SEASONALITY AND ADDITIONAL WORKING DAYS, THIS
WILL
RESULT IN AN INCREASE IN Q3 REVENUE, GROSS PROFIT AND EBIT, BOTH
Y-O-Y AND COMPARED TO Q2
Source text for Eikon: ID:nGNE8LqsHT
Further company coverage: BRUN.AS
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