Brief: Exel Industries: H1 Net Income Down, Trade War Affecting U.S. Market

Exel Industries SA

04/06/2019 05:52

June 4 (Reuters) - EXEL INDUSTRIES SA  EXEP.PA :
    * H1 SALES EUR ‍​348.9 MILLION VERSUS EUR 343.0 MILLION YEAR AGO
    * H1 CURRENT OPERATING INCOME EUR 5.0‍​ MILLION VERSUS EUR 10.9 MILLION YEAR AGO
    * H1 NET INCOME EUR 1.2‍​ MILLION VERSUS EUR 4.1 MILLION YEAR AGO
    * SEES FY SALES TO BE LOWER THAN IN 2017-2018; PROFITABILITY TO BE WEAKER
    * 'S CEO SAYS "SUGAR INDUSTRY IS IN THE MIDST OF A MAJOR CRISIS"
    * SEES SIGNIFICANT REDUCTION IN SUGAR BEET HARVESTER ACTIVITY OVER H2
    * SEES IN SUGAR BEET HARVESTER DIFFICULT ENVIRONMENT FOR AT LEAST 2 YRS
    * SAYS ON SUGAR BEET HARVESTER: HEADCOUNT REDUCTION PLAN CURRENTLY BEING NEGOTIATED WITH
SOCIAL
PARTNERS
    * SAYS ON SUGAR BEET HARVESTER: COSTS OF RESTRUCTURING PLAN PROVISIONED IN H1 STATEMENTS
    * SEES IN AGRICULTURAL SPRAYING H2 TO BE DIFFICULT
    * SAYS IN AGRICULTURAL SPRAYING WILL FACE ABRUPT CHANGE IN US MARKET
    * SAYS IN AGRICULTURAL SPRAYING US MARKET AFFECTED BY TRADE WAR WITH CHINA, FALLING CROPS
PRICE,
VERY UNFAVORABLE CLIMATE CONDITIONS
    * SAYS IN INDUSTRIAL SPRAYING: ACTIVITY IN US REMAINS VERY DYNAMIC; ANTICIPATES SLIGHT
DOWNTURN IN
ASIA

Source text: https://bit.ly/2W7wt8E
Further company coverage:  EXEP.PA 

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