Brief: TKH Group H1 EBITA Before One-Offs Down 11% At Eur 69 Mln

TKH

11/08/2020 06:43

Aug 11 (Reuters) - TKH Group NV  TWKNc.AS :
    * CLEAR IMPACT COVID-19 ON TURNOVER AND RESULT IN Q2 2020
    * H1 EBITA BEFORE ONE-OFF INCOME AND EXPENSES 11.0% LOWER AT
€ 69
MILLION
    * H1 TURNOVER DOWN 9.9% AT € 679 MILLION, ORGANIC DECLINE
7.5%.
    * H1 ONE-OFF EXPENSES TOTALING € 3.7 MILLION DUE TO
RESTRUCTURING,
INTEGRATIONS AND IMPAIRMENTS OF € 1.5 MILLION
    * H1 NET PROFIT BEFORE AMORTIZATION AND ONE-OFF INCOME,
EXPENSES
ATTRIBUTABLE TO SHAREHOLDERS DECLINED BY 21.6% TO € 36.0 MILLION
    * FORECAST FULL YEAR 2020: NET PROFIT FROM CONTINUED
OPERATIONS
BEFORE AMORTIZATION AND ONE-OFF INCOME AND EXPENSES ATTRIBUTABLE
TO SHAREHOLDERS OF BETWEEN € 63 MILLION AND € 69 MILLION
    * LOCKDOWNS IN FRANCE, ITALY AND THE US IN APRIL AND MAY,
FOR
INSTANCE, HAD A MAJOR IMPACT ON OUR OPERATIONS
    * FROM JUNE ONWARDS, FOLLOWING THE EASING OF RESTRICTIONS IN
THESE
COUNTRIES, WE DID SEE A RESUMPTION OF DELIVERIES
    * CURRENT ECONOMIC UNCERTAINTIES HAVE IMPACT ON TKH’S
OPERATIONS
AND WE EXPECT THIS TO CONTINUE IN SECOND HALF OF 2020
    * RESUMPTION FROM JUNE  NOT YET BACK TO PREVIOUS LEVELS
    * ACTIVITY LEVELS IN CHINA HAVE RECOVERED SINCE MARCH,
COVID-19
HAD ONLY A LIMITED IMPACT
    * IMPACT OF COVID-19-RELATED GOVERNMENT SUBSIDIES ON  RESULT
IN H1
WAS LIMITED TO € 1.3 MILLION

Source text : https://bit.ly/3kxbvNY
Further company coverage:  TWKNc.AS 

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