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Picanol Group H1 FY20 revenue grows 4% to €1,136 mn

27 Aug '20

2 min read

Pic: Picanol Group

Picanol Group, a diversified industrial group, has reported 4 per cent revenue decline to €1,135.6 million in its first half (H1) for fiscal 2020 ended on June 30, 2020, compared to the revenue of €1,187.9 in same period of previous fiscal. Profit for the period attributable to the equity holders of the company was €36.6 million (H1 FY19: €20.7 million).

Gross profit for H1 FY20 was €280.7 million (€236.0 million). Profit from the operations were €99.3 (€44.4 million). Profit for the period was jumped to €72.6 million (€26.3 million).

Revenue of Machines & Technologies fell 24 per cent to €200.6 million (€262.8 million) due to impacts by the Covid-19 pandemic on the global machine market. However, Agro segment revenue remained stable with 3 per cent rise to €362.2 million (€352.7 million).

Bio-Valorisation revenue grew 8 per cent to €287.6 million (€265.3 million) as a result of favourable market conditions and improved product mix. Revenue of Industrial Solutions dipped 8 per cent to €250.6 million (€272.3 million) mainly due to lower DYKA Group volumes impacted by the Covid-19 pandemic.

For the upcoming period, the group anticipates a continued high level of uncertainty in the second half of 2020 due to the ongoing corona pandemic, where the development of customer demand and margin is likely to be exposed to increased risk.

Fibre2Fashion News Desk (JL)

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