Brief: Ter Beke H1 EBITDA Down At 6.2 Million Euros

Whats Cooking NV

28/08/2020 06:43

Aug 28 (Reuters) - Ter Beke NV  TERB.BR :
    * IS CONFIDENT THE RESULTS OF THE SECOND HALF OF THE YEAR
WILL
SUBSTANTIALLY EXCEED THOSE OF THE FIRST HALF OF THE YEAR
    * GROUP ESTIMATES TOTAL IMPACT OF COVID-19 ON EBITDA RESULT
OF
FIRST HALF YEAR AT APPROXIMATELY 5.1 MILLION EUR
    * H1 REVENUE EUR  356.2 MILLION VERSUS EUR 358.6 MILLION
YEAR AGO
    * EXPRESSES ITS CONFIDENCE THE MEASURES TAKEN AND
REORGANIZATIONS
THAT WERE ACCELERATED WILL CONTRIBUTE POSITIVELY TO FUTURE
RESULTS
    * GROUP ALSO MADE A CONSCIOUS DECISION TO CONTINUE WITH A
NUMBER
OF IMPORTANT INVESTMENT PROJECTS FOR THE FUTURE
    * H1 EBITDA EUR 6.2 MILLION VERSUS EUR 24.9 MILLION YEAR AGO
    * IMPORTANT INVESTMENT PROJECTS INCLUDE INVESTMENT PROJECT,
WORTH
APPROXIMATELY EUR 8.5 MILLION, TO SIGNIFICANTLY EXPAND THE
PRODUCTION CAPACITY OF THE PLANT IN POLAND BY THE END OF 2020
    * H1 LOSS AFTER TAX GROUP SHARE EUR  9.7 MILLION VERSUS
PROFIT OF
EUR 4.6 MILLION YEAR AGO
    * END-H1 NET FINANCIAL DEBTS AT EUR 114.2 MILLION
    * HAS MANAGED TO FOCUS ON FREE CASH FLOW IN THE FIRST HALF
OF 2020
AND THUS FURTHER REDUCE ITS EXTERNAL DEBT POSITION
    * GROUP EXPECTS FOODSERVICE ACTIVITIES (BARRING A RESURGENCE
OF
COVID-19) TO GRADUALLY PICK UP AGAIN AND GENERATE THEIR EARLIER
SALES, PARTLY THANKS TO STIMULI FROM VARIOUS GOVERNMENTS

Source text : https://bit.ly/3gAAQU6
Further company coverage:  TERB.BR 

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