Brief: Vicat Now Sees 2022 EBITDA Lower Than In 2021

Vicat SA

11/10/2022 17:05

Oct 11 (Reuters) - VICAT SA  VCTP.PA :
    * VICAT: UPDATED FY 2022 OUTLOOK
    * GROUP'S EBITDA IN 2022 IS NOW EXPECTED TO BE LOWER THAN IN
2021
AND TO BE AT LEAST EQUAL TO THAT GENERATED IN 2020
    * ALL OTHER MARKETS IN WHICH GROUP OPERATES ARE DEVELOPING
IN LINE
WITH EXPECTATIONS DETAILED AT TIME OF PUBLICATION OF HALF-YEARLY
RESULTS ON AUGUST 3, 2022
    * NECESSARY ADJUSTMENTS FOR OPTIMAL OPERATION OF THIS NEW
FURNACE
ARE UNDERWAY AND ITS GRADUAL RAMP-UP WILL CONTINUE IN LAST
QUARTER OF 2022
    * HAS ANNOUNCED FURTHER SIGNIFICANT PRICE INCREASES OF MORE
THAN
20 EUROS IN FRANCE AS OF NOVEMBER AND 30 SWISS FRANCS ON JANUARY
1 IN SWITZERLAND
    * VERY SHARP RISE IN ELECTRICITY PRICES IN Q3 AND EXPECTED
FOR END
OF YEAR, THAT REMAINS MORE RAPID THAN INCREASE IN SELLING
PRICES, HAS HAD A VERY UNFAVORABLE IMPACT ON PROFITABILITY OF
VICAT GROUP'S ACTIVITIES IN FRANCE AND SWITZERLAND
    * WILL PAY PARTICULAR ATTENTION TO REDUCING ITS CAPITAL
EXPENDITURE FROM 2023 ONWARDS, A TREND WHICH WILL ACCELERATE IN
2024

Source text for Eikon:  ID:nBw4SHHc0a 
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