Brief: Tessenderlo FY Adjusted EBITDA Up To EUR 434.8 Mln

Tessenderlo NV

23/03/2023 07:19

March 23 (Reuters) - Tessenderlo Group NV  TESB.BR :
    * 2022 RESULTS OUTPERFORM HALF YEAR OUTLOOK DESPITE MORE
CHALLENGING SECOND HALF YEAR
    * FY REVENUE EUR 2.59 BILLION VERSUS EUR 2.08 BILLION YEAR
AGO
    * FY 2022 ADJUSTED EBITDA EUR 434.8 MILLION VERSUS EUR 354.2
MILLION IN 2021
    * FY PROFIT EUR 226.8 MILLION VERSUS EUR 188.3 MILLION YEAR
AGO
    * 2022 OPERATIONAL FREE CASH FLOW AMOUNTS TO 156.6 MILLION
EUR,
COMPARED TO 188.9 MILLION EUR IN 2021
    * AS PER YEAR-END 2022, THE GROUP NET FINANCIAL DEBT AMOUNTS
TO
59.5 MILLION EUR
    * AS FROM JANUARY 2023, PICANOL GROUP WILL BE FULLY
CONSOLIDATED
IN THE RESULTS OF TESSENDERLO GROUP
    * AN ANTICIPATED INCREASE IN THE PICANOL GROUP ADJUSTED
EBITDA IS
EXPECTED TO BE MORE THAN OFFSET BY A DECREASE OF THE ADJUSTED
EBITDA OF THE OTHER SEGMENTS
    * THE GROUP ANTICIPATES A CONTINUED HIGH LEVEL OF ECONOMIC
UNCERTAINTY IN 2023, PUTTING THE DEVELOPMENT OF  CUSTOMER DEMAND
AND SALES MARGIN MORE UNDER PRESSURE
    * THE GROUP  EXPECTS THAT THE 2023 ADJUSTED EBITDA WILL BE
LOWER
THAN THE 2022 PRO FORMA ADJUSTED EBITDA OF 467.0 MILLION  EUR

Source text for Eikon:  ID:nNDL84SdBw 
Further company coverage:  TESB.BR 

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