Brief: Exel Industries Sees Crisis In European Sugar Industry Impacting FY Results

Exel Industries SA

25/04/2019 17:00

April 25 (Reuters) - EXEL INDUSTRIES SA  EXEP.PA :
    * H1 SALES EUR 348.9 MILLION, UP 1.7%
    * REST OF YEAR WILL BE IMPACTED BY CRISIS IN EUROPEAN SUGAR INDUSTRY
    * EXPECTS SIGNIFICANT SLOWDOWN IN H2 AS RESULT OF AGRICULTURAL ACTIVITIES AND SUGAR BEET
HARVESTER
BUSINESS IN PARTICULAR
    * ON SUGAR BEET HARVESTER: FORESEES DIFFICULT OUTLOOK FOR AT LEAST 2 YRS AND ADJUSTS
PRODUCTION
CAPACITY
    * ON SUGAR BEET HARVESTER: TO REDUCE WORKFORCE BY 100 EMPLOYEES (PERMANENT, TEMPORARY AND
INTERIM), PRIMARILY IN GERMANY
    * ON SUGAR BEET HARVESTER: PROVISION FOR RESTRUCTURING PLAN COSTS WILL BE CREATED IN H1
ACCOUNTS
    * 2018-2019 FISCAL YEAR WILL LIKELY SEE A SLIGHT DECLINE COMPARED TO LAST YEAR

Source text for Eikon:  ID:nGNE6tPFt6 
Further company coverage:  EXEP.PA 

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