Brief: Envipco Holding Q1 EBITDA Turns To Loss EUR 0.2 MILLION

Envipco Holding NV

24/05/2022 17:04

May 24 (Reuters) - Envipco Holding NV  ENVI.AS :
    * COMPANY HAS BUILT A STRONG ORDERBOOK FOR  Q2’22
    * 25% REVENUE GROWTH TO EUR 10.4 MILLION IN Q1’22 FROM Q1’21
    * Q1 GROSS MARGIN 32.9% UP FROM 31.5% IN Q4’21
    * THE COMPANY HAS BUILT A STRONG ORDERBOOK FOR Q2’22, AND
SIGNIFICANT REVENUE GROWTH IS EXPECTED
    * WE REMAIN CONFIDENT IN OUR STRATEGY, OUR INVESTMENTS, AND
OUR
ABILITY TO DELIVER STRONG GROWTH AND EXECUTE ON OUR LONG-TERM 
REVENUE AND GROSS MARGIN TARGETS
    * WE ARE GROWING IN NORTH AMERICA, WINNING CONTRACTS WITH
KEY
NATIONAL RETAILERS, AND POSITIONING THE COMPANY FOR EXPANSION
    * NEW ROMANIAN FACILITY WILL IMPROVE PRODUCTION CAPACITY
WITH
LOCAL EUROPEAN PRESENCE, REDUCING MANUFACTURING COSTS, 
SIMPLIFYING SUPPLY CHAINS, AND LOWERING FREIGHT COSTS AS THE
FACILITY IS RAMPED UP
    * WITH A STRONG OUTLOOK GOING INTO Q2, WE REMAIN OPTIMISTIC
ABOUT
SOLID GROWTH THIS YEAR AND SETTING A GOOD FOUNDATION TOWARDS OUR
LONG-TERM TARGETS-CEO
    * Q1 EBITDA LOSS EUR 0.2 MILLION VERSUS PROFIT EUR 3.4
MILLION
YEAR AGO
    * Q1 NET LOSS AFTER TAXES AFTER MINORITY EUR 1.3 MILLION
VERSUS
PROFIT EUR 2.0 MILLION YEAR AGO
    * STRONG ORDERBOOK WITH KEY RETAILERS IN NORTH AMERICA TO BE
DELIVERED IN Q2/Q3’22
    * ROMANIAN MANUFACTURING PLANT LAUNCHED IN MAY 2022; GLOBAL
MANUFACTURING CAPACITY UP TO 30,000 RVMS ANNUALLY

Source text for Eikon:  ID:nNDL92TByT 
Further company coverage:  ENVI.AS 

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