Brief: Greenyard H1 Adjusted EBITDA Up At 47.6 Million Euros

Greenyard NV

18/11/2019 10:39

Nov 18 (Reuters) - GREENYARD NV  GREENY.BR :
    * H1 SALES EUR 1.97 BLN VERSUS EUR 1.98 BLN YEAR AGO
    * H1 ADJUSTED EBITDA EUR 47.6 MLN VERSUS EUR 41.2 MLN YEAR
AGO
    * H1 NET LOSS EUR 44.9 MLN VERSUS LOSS OF EUR 68.1 MLN YEAR
AGO
    * END-SEPT CASH, CASH EQUIVALENTS AND BANK OVERDRAFTS,
OPENING
BALANCE EUR 67.2 MLN VERSUS EUR 57.4 MLN YEAR AGO
    * IN H1 TOTAL CAPEX REACHED EUR 12.9 MLN DOWN FROM EUR 40.2
MLN
(EXCLUDING OVERFLOW FROM PREVIOUS YEAR: EUR 24.2 MLN) YEAR AGO
    * EXPECTS THE ADJUSTED EBITDA (PRE IFRS 16) FOR FULL
ASSESSMENT
YEAR (AY) 2019/20 TO LAND BETWEEN EUR 88-93 MLN
    * OBTAINED CONSENT LETTER ON NOV 15, 2019 EXTENDING WAIVER
PERIOD
TO DEC 22, 2021 (INSTEAD OF JUNE 15, 2020) WHICH IS DATE ON
WHICH SYNDICATED FACILITY AGREEMENT EXPIRES AND CONVERTIBLE BOND
MATURES
    * RE-CONFIRMS COMMITMENT TO REDUCE LEVERAGE FROM CO’S OWN
CASH
GENERATION FROM CURRENT (PRE IFRS 16) LEVERAGE RATIO (NET DEBT/
MODIFIED ADJUSTED EBITDA) OF 7,2X TO LEVERAGE RATIO AROUND 4,0X
BY END OF RENEWED WAIVER PERIOD AND BETWEEN 3,0X AND 4,0X IN
YEAR THEREAFTER WITH VALUE CREATION FOR ALL
    * AS MAIN CREDIT FACILITIES END BY DEC 22, 2021, EXECUTIVE
MANAGEMENT AND BOARD OF DIRECTORS BELIEVES THERE IS SUFFICIENT
TIME TO SECURE HEALTHY NEW FINANCING BEFORE  EXPIRATION DATE
    * PLANNED DIVESTMENTS REMAIN TO BE EXECUTED IN THE COMING
PERIOD

    
 Source text: https://bit.ly/2NTSoPI
    
 Further company coverage:  GREENY.BR  
   


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