Brief: Veganz Says Q1 Sales Amounted To Preliminary EUR 6.8 Million Falling Below Prior Year
23/05/2022 21:56
May 23 (Reuters) - Veganz Group AG VEZ.DE :
* VEGANZ-Q1 SALES AMOUNTED TO PRELIMINARY EUR 6.8 MILLION
(EUR 6.9
MILLION, UNCONSOLIDATED) FALLING BELOW PRIOR YEAR (PRIOR YEAR:
EUR 8.8 MILLION, UNCONSOLIDATED)
* COMPANY DOES NOT EXPECT NEW VEGANZ FOOD FACTORY TO START
PRODUCTION BEFORE Q2 OF 2023
* QTRLY EBITDA DECREASED TO EUR -1.9 MILLION VERSUS EUR -1.3
MILLION
* VEGANZ GROUP - INVESTMENT COSTS FOR NEW PRODUCTION
FACILITY ARE
NOW EXPECTED TO BE AROUND 30 PERCENT HIGHER THAN INITIAL COST
ESTIMATE OF EUR 12.6 MILLION
* ANTICIPATES DIRECT EFFECTS FROM UKRAINE WAR IN FORM OF
DELAYS ,
RISING COSTS FOR CONSTRUCTION OF VEGANZ FOOD FACTORY IN WERDER
* EXPECTS A SLIGHT SALES DECREASE FOR FISCAL YEAR 2022, BOTH
AT
GROUP LEVEL AND AT COMPANY LEVEL OF VEGANZ GROUP AG
* EXPECTS A SLIGHTLY LOWER EBITDA IN FY 2022 COMPARED TO
PRIOR
YEAR
Source text for Eikon: ID:nEQ9mjjDPa
Further company coverage: VEZ.DE
((Reuters.Briefs@thomsonreuters.com;))