Brief: Vicat H1 Consolidated EBITDA Down At EUR 269 Mln

Vicat SA

27/07/2022 18:05

July 27 (Reuters) - Vicat SA  VCTP.PA :
    * H1 SALES IN INDIA ROSE 14 PERCENT TO 214 MILLION EUR 
    * H1 NET PROFIT 88 MILLION EUR
    * VICAT: FIRST-HALF 2022 RESULTS
    * SOLID CASH GENERATION AND ROBUST BALANCE SHEET DESPITE
INFLATED
INCREASE IN WORKING CAPITAL REQUIREMENT
    * CONSOLIDATED EBITDA CAME TO EUR 269 MILLION IN FIRST HALF
OF
2022, DOWN -10.4% ON A REPORTED BASIS AND DOWN -9.8% AT CONSTANT
SCOPE AND EXCHANGE RATES
    * H1 CONSOLIDATED SALES TOTALLED EUR 1,755 MILLION, UP FROM
EUR
1,560 MILLION IN FIRST SIX MONTHS OF 2021
    * H1 OPERATING INCOME CAME TO EUR 128 MILLION, DOWN -20.5%
ON A
REPORTED BASIS AND DOWN -18.3% AT CONSTANT SCOPE AND EXCHANGE
RATES
    * H1 NET INCOME, GROUP SHARE FELL -22.7% AT CONSTANT SCOPE
AND
EXCHANGE RATES AND -16.8% ON A REPORTED BASIS TO EUR 78 MILLION
    * H1 CASH FLOW FROM OPERATIONS CAME TO EUR 218 MILLION, DOWN
-9.1%
ON A REPORTED BASIS
    * CAPITAL EXPENDITURE TOTALLED EUR 178 MILLION IN FIRST SIX
MONTHS
OF 2022, UP FROM EUR 170 MILLION IN EQUIVALENT PERIOD OF 2021
    * FREE CASH FLOW AMOUNTED TO -EUR 202.6 MILLION, VERSUS -EUR
52.5
MILLION IN FIRST HALF OF 2021
    * IN 2022, GROUP ANTICIPATES A STRONG INCREASE IN ITS SALES
UNDERPINNED BY AN INCREASE IN ITS ACTIVITY LEVELS AND A LARGE
HIKE IN SELLING PRICES
    * EBITDA GENERATED BY GROUP IN 2022 IS LIKELY TO GROW, BUT
NOT BY
AS MUCH AS IN 2021
    * IN LIGHT OF THESE FACTORS, GROUP EXPECTS EROSION IN ITS
EBITDA
MARGIN IN 2022
    * ACCORDINGLY, CAPITAL EXPENDITURE IS EXPECTED TO BE HIGHER
THAN
IN 2021 AT AROUND EUR 400 MILLION, INCLUDING EUR 130 MILLION IN
"MAINTENANCE" INVESTMENTS AND EUR 270 MILLION IN "STRATEGIC"
INVESTMENTS

Source text for Eikon:  ID:nBwbltlpZa 
Further company coverage:  VCTP.PA 

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