Brief: BEL H1 Sales Fall 2.7% To EUR 1.7 Billion

Unibel SA

29/07/2021 18:23

July 29 (Reuters) - Bel Sa  FROB.PA :
    * H1 NET PROFIT 67 MILLION EUR
    * H1 SALES FELL 2.7 PERCENT TO 1.7 BILLION EUR
    * Q2 ORGANIC SALES GROWTH ADVANCES A STRONG 5.5% AND
INCREASES
1.2% AFTER ADJUSTING FOR 2020 COVID IMPACT
    * H1 CONSOLIDATED SALES TOTAL EUR 1.7BN, DOWN 2.7% ON A
PUBLISHED
BASIS BUT UP A SLIGHT 0.7% ORGANICALLY
    * H1 OPERATING INCOME DECLINES 38.0% TO EUR 109 MILLION, DUE
IN
PARTICULAR TO AN UNFAVORABLE FOREX IMPACT AND A SHARP RISE IN
RAW MATERIAL PRICES
    * H1 CONSOLIDATED NET PROFIT GROUP SHARE EUR 67 MILLION
VERSUS EUR
105 MILLION YEAR AGO
    * BALANCE SHEET REMAINED HEALTHY AND STRONG AT JUNE 30,
2021, WITH
NET FINANCIAL DEBT AMOUNTING TO EUR 719.0 MILLION (INCLUDING EUR
101.3 MILLION IN RIGHT-OF-USE LIABILITIES UNDER IFRS 16)
    * AT JUNE 30, 2021, BEL HAD EUR 441 MILLION IN SURPLUS CASH
AND
CASH EQUIVALENTS AND EUR 820 MILLION IN UNTAPPED CREDIT LINES
MATURING IN 2023 AND 2024
    * IN SECOND HALF OF 2021, BEL EXPECTS TO SEE A TOUGH
ECONOMIC AND
FINANCIAL ENVIRONMENT
    * FOR 2021, BEL REITERATES ITS CAUTIOUS STANCE GOING FORWARD

Source text for Eikon:  ID:nGNE8TQBl0 
Further company coverage:  FROB.PA 

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