Upward revision of the 2022 outlook as a result of impact of Tessenderlo Group
Based on the current situation, Picanol Group can confirm it anticipates that the 2022 Adjusted EBITDA will be in line with the 2021 Adjusted EBITDA (430.3 million EUR). The previous outlook projected the 2022 Adjusted EBITDA to be lower than the 2021 Adjusted EBITDA.
Tessenderlo Group (Euronext: TESB) anticipates the Adjusted EBITDA for 2022 to be approximately 10% higher than the 2021 Adjusted EBITDA (354.2 million EUR). The previous outlook projected the 2022 Adjusted EBITDA to be in line with the 2021 Adjusted EBITDA.
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-valorization segment and favorable market conditions in the Industrial Solutions segment.
Picanol Group wishes to emphasize 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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