Brief: Tessenderlo Confirms Its 2021 Adjusted EBITDA Forecast

Tessenderlo NV

26/08/2021 07:31

Aug 26 (Reuters) - TESSENDERLO GROUP NV  TESB.BR :
    * HY21 RESULTS IN LINE WITH EXPECTATIONS
    * ANTICIPATES A CONTINUED HIGH LEVEL OF UNCERTAINTY IN THE
SECOND
HALF OF 2021 DUE TO DIFFICULT SUPPLY CHAIN CIRCUMSTANCES AND
OTHER CHALLENGES
    * CONFIRMS ITS PREVIOUS FORECAST THAT THE 2021 ADJUSTED
EBITDA IS
EXPECTED TO BE IN LINE WITH THE 2020 ADJUSTED EBITDA
    * GUIDANCE ALREADY TAKES THE EXPECTED NEGATIVE FOREIGN
EXCHANGE
EFFECT IN 2021, FOLLOWING THE WEAKENING OF THE USD, INTO ACCOUNT
    * WOULD LIKE TO EMPHASIZE FURTHER THAT IT CURRENTLY OPERATES
IN A
VOLATILE POLITICAL, ECONOMIC, FINANCIAL AND HEALTH ENVIRONMENT
    * H1 PROFIT FOR THE PERIOD EUR 97.3 MILLION VERSUS EUR 86.1
MILLION YEAR AGO
    * H1 ADJUSTED EBITDA EUR 184.7 MILLION VERSUS EUR 182.0
MILLION
YEAR AGO
    * H1 REVENUE EUR 1,021.0 MILLION VERSUS EUR 935.0 MILLION
YEAR AGO
    * ACTIVITIES COULD BE FURTHER IMPACTED IN THE COMING WEEKS
OR 
MONTHS IF TOO MANY EMPLOYEES ARE AFFECTED BY COVID-19
    * AS PER HY21, GROUP NET FINANCIAL DEBT DECREASED TO 117.8
MILLION
EUR, COMPARED TO 201.3 MILLION EUR AS PER YEAR-END 2020
    * HY21 OPERATIONAL FREE CASH FLOW AMOUNTS TO 129.5 MILLION
EUR,
COMPARED TO 141.0 MILLION EUR IN HY20
    * ACTIVITIES COULD BE FURTHER IMPACTED IN THE COMING WEEKS
OR 
MONTHS IF ACCESS TO RAW MATERIALS AND AUXILIARY  MATERIALS OR
MEANS OF TRANSPORTATION BECOMES MORE COMPLICATED

Source text for Eikon:  ID:nNDL825W2n 
Further company coverage:  TESB.BR 

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