Brief: Sligro H1 EBITDA Rises To 35 Million Euros

Sligro Food

22/07/2021 10:45

July 22 (Reuters) - Sligro Food Group NV  SLIGR.AS :
    * STRONG RECOVERY AFTER DIFFICULT START TO THE YEAR
    * GROUP NET SALES FOR THE FIRST HALF OF 2021 TOTALLED €788
MILLION, A COVID-19-DRIVEN DECREASE OF 16.5% COMPARED TO THE
SAME PERIOD LAST YEAR
    * H1 GROUP’S EBITDA INCREASED BY €8 MILLION TO €35 MILLION
    * WE ARE FOCUSING ON THE FURTHER RECOVERY OF THE VARIOUS
CUSTOMER
SEGMENTS OVER THE COURSE OF THE SECOND HALF OF THE YEAR
    * A NET LOSS OF €4 MILLION REMAINED FOR THE FIRST HALF OF
THE YEAR
(NET LOSS EXCLUDING IMPAIRMENT IN THE FIRST HALF OF 2020: €16
MILLION)
    * OTHER CUSTOMER SEGMENTS ARE SHOWING A STRONG RECOVERY AND
MAY
RETURN TO PRE-COVID-CRISIS LEVELS IN THE SECOND HALF OF THE YEAR
    * WE ARE REFRAINING FROM MAKING ANY FIRM FORECASTS ABOUT THE
RESULTS FOR THE SECOND HALF OF THE YEAR
    * CURRENTLY NO SHORT-TERM REPAYMENT OBLIGATIONS AND WE HAVE
AGREED
WITH OUR MAIN BANK TO EXTEND OUR SHORT-TERM COMMITTED CREDIT
FACILITIES UNTIL THE END OF 2022
    * FORESEE AN INCREASE IN INFLATION OVER THE UPCOMING PERIOD,
WITH
THE SCARCITY OF RAW MATERIALS AND THE SHORTAGE OF PERSONNEL
PUSHING UP PRICES
    * END-H1 POSITIVE FREE CASH FLOW TOTALLING €40 MILLION
    * WE ARE NOT PERMITTED TO PAY A DIVIDEND FOR THIS FINANCIAL
YEAR
    * WE LOOK AHEAD WITH CONFIDENCE TO THE SECOND HALF OF THE
YEAR AND
TO THE COMING YEARS AS OUR MARKETS RECOVER AND WE BENEFIT FROM
THE REBOUND

Source text for Eikon:  ID:nNDL4By42S 
Further company coverage:  SLIGR.AS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))