Picanol Group, a diversified industrial group, has confirmed that the group anticipates its 2020 adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) will be in line with 2019, which was impacted by the one-off inventory revaluation for €-32.2 million following the first-time consolidation of Tessenderlo Group.
Picanol Group, a diversified industrial group, has confirmed that the group anticipates its 2020 adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) will be in line with 2019, which was impacted by the one-off inventory revaluation for €-32.2 million following the first-time consolidation of Tessenderlo Group.#
The group in its outlook 2020 stated that whilst the current uncertain macroeconomic climate as a result of Covid-19 (Coronavirus) is causing a slowdown in the global machine market, this is likely to be offset by the various segments of Tessenderlo Group.
Picanol Group, a diversified industrial group, has confirmed that the group anticipates its 2020 adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) will be in line with 2019, which was impacted by the one-off inventory revaluation for €-32.2 million following the first-time consolidation of Tessenderlo Group.#
However, Tessenderlo Group expects that Covid-19 will have no material impact on the financial results of the group and as such anticipates that the adjusted EBITDA for the full financial year 2020 will be higher compared to 2019.
Picanol Group, a diversified industrial group, has confirmed that the group anticipates its 2020 adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) will be in line with 2019, which was impacted by the one-off inventory revaluation for €-32.2 million following the first-time consolidation of Tessenderlo Group.#
Picanol Group has also emphasised further that it currently operates in a volatile political, economic, financial and health environment.
Fibre2Fashion News Desk (JL)
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