Belgium's Picanol Group revises 2022 outlook, expects €430.3 mn 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.

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.

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