Brief: Cenergy Holdings H1 Profit For Period Up At EUR 8.1 Mln

Cenergy Holdings

23/09/2020 18:02

Sept 23 (Reuters) - Cenergy Holdings SA  CENER.BR :
    * 2020 FIRST HALF YEAR FINANCIAL RESULTS
    * STABLE OPERATIONAL PROFITABILITY DESPITE SALES DROP –
CABLES
PROJECTS BUSINESS DROVE ADJUSTED EBITDA IN H1 TO EUR 42.4
MILLION (H1 2019: EUR 41.4 MILLION)
    * CONSOLIDATED REVENUE FOR 30 JUNE 2020 STANDS AT EUR 417
MILLION,
A 16% Y-O-Y DECREASE REFLECTING THE SLOWDOWN OF DEMAND OF STEEL
PIPES, MAINLY BECAUSE OF LOWER OIL & GAS PRICES
    * PROFIT FOR THE PERIOD AMOUNTED TO EUR 8.1 MILLION IN H1
2020
COMPARED TO EUR 4.3 MILLION IN H1 2019.
    * OVERALL, DESPITE CURRENT WORLD MARKET VOLATILITY, CENERGY
HOLDINGS EXPECTS TO MAINTAIN THE POSITIVE MOMENTUM GAINED IN
2019
    * IN H1 NET FINANCE COSTS FELL BY 5.4% TO EUR 16.6 MILLION
(-EUR
0.9 MILLION COMPARED TO H1 2019)
    * ITS COMPANIES’ DIVERSE BUSINESS MODEL AND SOLID
ORGANIZATIONAL
STRUCTURE CONTINUE TO PROVIDE RESILIENCE IN THIS CHALLENGING
ENVIRONMENT, PROVIDING CONFIDENCE FOR LONG-TERM SUSTAINABLE
GROWTH
    * OUTLOOK FOR 2020 REMAINS POSITIVE AS, FOR H2 2020, THERE
REMAIN
CONSIDERABLE SECURED ORDERS IN EUROPE, AMERICAS, NORTH AFRICA
AND ASIA
    * IMPACT FROM COVID-19 ON LONG TERM BUSINESS AND/OR
SHORT-TERM
FINANCIAL RESULTS IS EXPECTED TO BE LIMITED

Source text for Eikon:  ID:nNDL3t5gc2 
Further company coverage:  CENER.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))