Picanol Group: outlook 2020

Based on the current situation, Picanol Group can confirm it anticipates that the 2020 Adjusted EBITDA will be in line with 2019, which was impacted by the one-off inventory revaluation for -32.2 million EUR following the first-time consolidation of Tessenderlo Group.

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.

Tessenderlo Group

Based on the current situation, 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 would like to emphasize further that it currently operates in a volatile political, economic, financial and health environment.

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