Brief: Stern Groep H1 Operating Profit Up At 7.4 Million Euros

PB Holding NV

18/08/2021 17:15

Aug 18 (Reuters) - STERN GROEP NV  ARTN.AS :
    * H1 2021 NET REVENUE IS 10.0% HIGHER COMPARED TO H1 2020
    * OPERATING PROFIT FOR H1-2021 AMOUNTED TO €7.4 MILLION
(H1-2020:
€4.0 MILLION, EXCLUDING THE WRITE-DOWN IN 2020 OF THE GOODWILL
OF DEALERGROUP STERN)
    * SOLVENCY AS OF JUNE 30, 2021: 32.3% (YEAR-END 2020: 28.9%)
    * WE EXPECT FURTHER RECOVERY IN OUR SALES MARKETS IN COMING
MONTHS, BUT NEGATIVE IMPACT ON SALES AND OPERATING RESULTS FROM
COVID-19 WILL CONTINUE FOR SOME TIME
    * NET ASSET VALUE PER SHARE AS AT 30 JUNE 2021 IS €23.01
(YEAR-END
2020: €22.09)
    * IT IS LIKELY THAT SHARPLY INCREASED ORDER BOOK WILL NOT
LEAD TO
CLEARLY INCREASING SALES OF NEW VEHICLES IN COMING MONTHS
    * MARGINS ON NEW AND USED CARS WILL REMAIN RELATIVELY HIGH
DUE TO
INCREASING SCARCITY
    * H1 2021 NET TURNOVER INCREASED TO €419.5 MILLION COMPARED
TO H1
2020
    * EXPECTED FURTHER MARGIN IMPROVEMENT, DEMAND FOR
MAINTENANCE AND
DAMAGE REPAIR AND PREVIOUSLY INITIATED COST SAVINGS WILL NOT BE
ABLE TO FULLY ABSORB CONSEQUENCES OF REDUCED AVAILABILITY OF
(NEW) VEHICLES

Source text for Eikon:  ID:nNDL68gTsf 
Further company coverage:  ARTN.AS 

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