Brief: Exel Industries H1 Recurring EBITDA Down At EUR 17.4 Million
31/05/2022 06:41
May 31 (Reuters) - Exel Industries SA EXEP.PA :
* EXEL INDUSTRIES: FIRST HALF 2021-2022 RESULTS
* H1 SALES UP 5.6%, SHOWING AN INCREASE IN ALL BUSINESSES
APART
FROM GARDENING
* H1 POSITIVE NET INCOME OF EUR 2 MILLION
* ORDER BOOK AT A RECORD HIGH
* AGRICULTURAL SPRAYING: ORDER BOOK IS RISING AHEAD OF ITS
2020-2021 LEVELS, BUT SUPPLY CHAIN DISRUPTIONS (COMPONENTS)
PERSIST
* AS OF MARCH 31, GROUP REVIEWED ITS EXPOSURE, IN PARTICULAR
ITS
ACCOUNTS RECEIVABLE WITH UKRAINIAN AND RUSSIAN CUSTOMERS AND
IDENTIFIED NO PAYMENT DEFAULT IN CONNECTION WITH CONFLICT
* SUPPLY SHORTAGES HAD A SEVERE IMPACT ON FINANCIAL
PERFORMANCE,
WITH H1 RECURRING EBITDA DOWN COMPARED TO LAST YEAR AT EUR 17.4
MILLION, AND A RECURRING EBITDA MARGIN OF 4.3%
* HAS DECIDED TO GRANT ALL EMPLOYEES AN EXCEPTIONAL BONUS
FOR
SOLIDARITY PURPOSES AND PURCHASING POWER
* THIS BONUS, WHICH REPRESENTS OVERALL AN ESTIMATED COST OF
EUR 3
MILLION FOR GROUP, WILL BE SAME AMOUNT FOR EACH ELIGIBLE
EMPLOYEE IN WORLD
* SUGAR-BEET HARVESTERS: STABILIZATION OF NEW MACHINE SALES
EXPECTED IN FISCAL YEAR, DESPITE CANCELED/DELAYED ORDERS IN
UKRAINE AND RUSSIA
* SOME ORDERS FROM RUSSIA/UKRAINE HAVE BEEN CANCELED WITHOUT
LEADING TO INVENTORY IMPAIRMENT
* NET FINANCIAL DEBT AT MARCH 31, 2022 WAS EUR 155 MILLION,
COMPARED TO EUR 119 MILLION IN 2021
* ONE OF TWO SITES BELONGING TO HOLMER UKRAINE SUBSIDIARY IS
LOCATED IN WAR ZONE: DAMAGE TO BUILDINGS, WHICH HAVE BEEN
SEVERELY HIT BY RUSSIAN ATTACKS, LED TO A EUR 1.3 MILLION LOSS
RECORDED UNDER NON-RECURRING ITEMS
* AS A REMINDER, RUSSIA, BELARUS, AND UKRAINE ACCOUNTED FOR
4% OF
GROUP SALES IN FY 2020-2021
Source text for Eikon: urn:newsml:reuters.com:*:nGNE7QV6LF
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