Picanol Group, a Belgian diversified industrial group, has reported a 19 per cent surge in revenue to €1,354.3 million during the first half (H1) of FY21 ended on June 30, 2021, compared to the revenue of €1,135.6 million in the same period of last year. EBIT during the six-month period accelerated to €143.0 million (H1 FY20: €99.3 million).
Picanol Group, a Belgian diversified industrial group, has reported a 19 per cent surge in revenue to €1,354.3 million during the first half (H1) of FY21 ended on June 30, 2021, compared to the revenue of €1,135.6 million in the same period of last year. EBIT during the six-month period accelerated to €143.0 million (H1 FY20: €99.3 million).#
Machines and technologies segment recorded 66 per cent revenue growth to €333.3 million (€200.6 million) as the global machine market showed a strong recovery after the COVID-19 impacted H1 of 2020, the group said in a press release. Moreover, excluding the foreign exchange effect, the revenue of industrial solutions business increased 26.8 per cent to €314.9 million mainly due to the strong performance of Dyka Group during the period.
Picanol Group, a Belgian diversified industrial group, has reported a 19 per cent surge in revenue to €1,354.3 million during the first half (H1) of FY21 ended on June 30, 2021, compared to the revenue of €1,135.6 million in the same period of last year. EBIT during the six-month period accelerated to €143.0 million (H1 FY20: €99.3 million).#
“In the spring of 2021, Proferro in Ieper commissioned a new automatic high bay warehouse. PsiControl is currently continuing to build its new production facility in Rasnov (Romania). The works should be completed by the end of 2021,” the machinery manufacturer said.
The revenue from bio-valorisation segment in the H1 FY21 improved marginally by 3 per cent to €297.4 million (€287.6 million).
Picanol Group, a Belgian diversified industrial group, has reported a 19 per cent surge in revenue to €1,354.3 million during the first half (H1) of FY21 ended on June 30, 2021, compared to the revenue of €1,135.6 million in the same period of last year. EBIT during the six-month period accelerated to €143.0 million (H1 FY20: €99.3 million).#
The group's adjusted EBITDA for the first half climbed 21 per cent to €236.0 million (€195.5 million), while profit for the period expanded 62 per cent to €117.3 million (€72.6 million).
Picanol Group, a Belgian diversified industrial group, has reported a 19 per cent surge in revenue to €1,354.3 million during the first half (H1) of FY21 ended on June 30, 2021, compared to the revenue of €1,135.6 million in the same period of last year. EBIT during the six-month period accelerated to €143.0 million (H1 FY20: €99.3 million).#
In its outlook for FY21, the Belgian industrial group said that it is anticipating an adjusted EBITDA to be approximately 10 per cent higher over 2020.
Fibre2Fashion News Desk (JL)
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