Picanol shares jump on guidance hike, strong H1 results

Tessenderlo NV

25/08/2022 09:56

** Shares in Picanol  PICB.BR  climb 7% after the Belgian
industrial firm raises 2022 core earnings target on the back of
strong H1 results  urn:newsml:reuters.com:*:nFWN30036W
    ** The group now expects 2022 adjusted EBITDA to exceed the
430.3 million euros ($430.2 million) it posted a year earlier
    ** It had previously forecast FY earnings in line with 2021
levels
    ** Picanol, which plans to merge with chemicals group
Tessenderlo  TESB.BR  in January 2023  urn:newsml:reuters.com:*:nFWN2YO2RZ, reports a
13% rise in H1 EBITDA to 266 million euros
    ** Tessenderlo also posted a boost to H1 figures and raised
its EBITDA guidance on Thursday, driving the shares up 6%
 urn:newsml:reuters.com:*:nL8N301200
    ** Picanol's share price is at its highest in more than a
year
    
($1 = 1.0002 euros)

 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))