Belgium’s Picanol Group revises 2022 outlook, expects €430.3 mn EBITDA

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Based on the current situation, Belgium-based Picanol Group has confirmed that it anticipates that the 2022 Adjusted EBITDA will be in line with the 2021 Adjusted EBITDA (€430.3 million). The previous outlook projected the 2022 Adjusted EBITDA to be lower than the 2021 Adjusted EBITDA.

Tessenderlo Group anticipates the Adjusted EBITDA for 2022 to be approximately 10 per cent higher than the 2021 Adjusted EBITDA (€354.2 million). The previous outlook projected the 2022 Adjusted EBITDA to be in line with the 2021 Adjusted EBITDA, the company said in a media release.

Based on the current situation, Picanol Group, a diversified industrial group, has confirmed that it anticipates that the 2022 Adjusted EBITDA will be in line with the 2021 Adjusted EBITDA (€430.3 million). Tessenderlo Group anticipates the Adjusted EBITDA for 2022 to be approximately 10 per cent higher than the 2021 Adjusted EBITDA (€354.2 million).

This revised outlook for the 2022 financial year reflects the strong first half of the year thanks to better-than-expected market conditions in the Agro segment, improved margins of a number of products within the Bio-valorisation segment and favourable market conditions in the Industrial Solutions segment.

Picanol Group has emphasised that it currently operates in a volatile geopolitical, economic, financial, and health environment.

Picanol Group will announce its results for the first half of 2022 on August 25, 2022.

Fibre2Fashion News Desk (KD)





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