Brief: Ebusco Holding Expects Impact On FY Revenue

Ebusco Holding

29/01/2024 06:42

Jan 29 (Reuters) - Ebusco Holding NV  EBUS.AS :
    * EBUSCO ANNOUNCES FINANCIAL AND ORGANISATIONAL UPDATE
    * ANNOUNCES THAT FRANK MEURS WILL JOIN MANAGEMENT BOARD AS
AD
INTERIM CO-CEO
    * DUE TO UNFORESEEN CIRCUMSTANCES, PART OF PREVIOUSLY
EXPECTED
2023 REVENUE WILL SHIFT TO EARLY 2024
    * REVENUE NOT RECOGNISED IN 2023 WILL BE ADDED TO OUR 2024
OUTLOOK
WHICH IS SUBSEQUENTLY INCREASED TO REVENUE IN EXCESS OF EUR 325
MILLION AND POSITIVE EBITDA
    * IS CURRENTLY WORKING ON FINANCIAL CLOSE OF 2023, COMPANY
EXPECTS
2023 REVENUE TO BE IMPACTED BY TWO ELEMENTS THAT PREVIOUSLY
COULD NOT HAVE BEEN FORESEEN
    * DELIVERY OF MOST OF ENERGY CONTAINERS HAS BEEN MOVED TO
2024 AS
A CERTIFICATION PROGRAMME REQUIRED FOR DELIVERY WAS NOT
COMPLETED IN LINE WITH EXPECTED TIMETABLE
    * ENERGY CONTAINERS:  CERTIFICATION PROGRAMME HAS SINCE BEEN
COMPLETED ON FIRST CONTAINERS AND DELIVERY TO CLIENT IS NOW
EXPECTED LATE Q1/EARLY Q2. IMPACT OF DELAYED DELIVERY IS
SLIGHTLY OVER EUR 10 MILLION
    * IMPACT OF DELAYED DELIVERY IS SLIGHTLY OVER EUR 10 MILLION
    * BUS PRODUCTION LOGISTIC IMPACT: FOR A NUMBER OF BUSES THAT
WERE
ALREADY COMPLETED AT OUR ASSEMBLY PARTNERS, REVENUE COULD NOT BE
RECOGNISED DUE TO FACT THAT TITLE TRANSFER TO EBUSCO DID NOT
OCCUR IN TIME
    * BUS PRODUCTION LOGISTIC IMPACT: RECENT DISTURBANCE IN
GLOBAL
LOGISTICS FLOWS AND CAPACITY IN OUR OWN WAREHOUSES RESULTED IN
LONGER SHIPPING TIMES DELAYING ARRIVAL OF PARTS AT OUR ASSEMBLY
PARTNERS
    * BUS PRODUCTION LOGISTIC IMPACT: TITLE TRANSFER AND
LOGISTICS
ISSUES HAD AN IMPACT ON 2023 REVENUE OF CIRCA EUR 15 TO 20
MILLION
    * BUS PRODUCTION LOGISTIC IMPACT: ABOVE CIRCUMSTANCES WILL
NOT
IMPACT PRODUCTION PLAN FOR 2024 AND THEREFORE WILL NOT HAVE
CONSEQUENCES FOR CLIENT DELIVERY PLANS AND RELATED CASH
COLLECTIONS
    * AS A RESULT, GUIDANCE FOR 2024 IS ADJUSTED UPWARDS FROM
"REVENUE
IN EXCESS OF EUR 300 MILLION" TO "REVENUE IN EXCESS OF EUR 325
MILLION"
    * REITERATES THAT IT EXPECTS POSITIVE EBITDA FOR FULL YEAR
2024
    * WILL PROVIDE MORE CONCRETE GUIDANCE ON EBITDA OUTLOOK
THROUGHOUT
2024

Source text for Eikon:  ID:nNDL93drzY 
Further company coverage:  EBUS.AS 

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