Baikowski: The Half-yearly Results for 2020 Have Held up Well
24 September 2020 - 4:45PM
Business Wire
The Group’s long-term outlook is
confirmed
Regulatory News:
Baikowski (Paris:ALBKK):
“This end of summer, subject to a most unusual economic and
sanitary context, offers us the occasion of announcing half-yearly
results testifying to the Group’s resilience and agility. With more
than 90% of our business engaged in internationally, industrial
facilities capable of functioning in all circumstances and
committed and motivated teams, we have succeeded in maintaining our
course and continuing to ensure service of quality during the 1st
half of the year without relinquishing our efforts in respect of
our reactor and core business: innovation.”
Benoît GRENOT - CEO
Consolidated data (in millions of
euro)
S1 2020
S1 2019
Revenue
16.3
18.0
EBITA
- 0.5
0.5
As a % of revenue
- 3.2 %
2.7 %
EBIT
0.0
0.9
Group share of net income
- 0.4
0.6
Consolidated revenue for the 1st half of 2020 reached €16.3
million, confirming a limited fall in activity of -9.7%
(like-for-like for foreign exchange and scope of consolidation)
compared to the 1st half of 2019. Our major markets’ business
cycles remain favorable but the Group’s overall activity has
nevertheless been marked by the global economy’s slowdown which has
marked the growth profile of the last 5 months. Sales within the
markets for electronic and very technical applications (ceramics,
polishing products etc.) have hardly been affected but the
automotive, aeronautical, traditional lighting and watchmaking
industries have been harder hit. Within that context of lower
volume, the Group’s financial performance has been temporarily
reduced with negative EBITA of -€0.5 million, breakeven EBIT
(reflecting an impact of -€0.7 million associated with the
acquisition of Mathym) and a Group share of net income amounting to
-€0.4 million compared with €0.6 million for the 1st half of 2019.
The Group’s financial position remains a solid one and adequate to
coping serenely with the forthcoming period. With the support of
its syndicated credit facility, the Group disposes of €11.2
million of net cash as of June 30, 2020. Its net debt of €18.4
million has fallen by -€0.6 million compared to December 31,
2019.
The final outcome of the Covid-19 crisis
remains difficult to estimate whether for Europe or
internationally. Baikowski® has regained complete mastery of its
industrial and commercial resources since mid-June and confirms its
positive dynamics in Asia in particular, thanks to the market for
electronics and the award of new contracts for high technology
applications.
Next dates for your diary : Publication
of our half-yearly report on September 29, 2020 Forum Lyon Pôle
Bourse on September 30, 2020 Date à déterminer
About Baikowski®: Baikowski® has existed for a hundred
years and is a leading manufacturer of specialist industrial
minerals and more particularly, of ultra-pure alumina powders and
formulations as well as of other oxides such as spinel, ZTA, YAG
and cerium for technical ceramic applications, precision polishing,
crystals and additives or coverings. The quality of Baikowski®’s
products is appreciated by a variety of high-tech markets including
the lighting, watchmaking, mobile phone, microelectronic,
automotive, defence and medical sectors. In 2019, Baikowski®
achieved revenue of €40.5 million.
Complete information on the company may be
found at: www.baikowski.com- finance@baikowski.com
Euronext: ALBKK - ISIN: FR0013384369
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version on businesswire.com: https://www.businesswire.com/news/home/20200923005711/en/
Financial communication Jérôme Gacoin +33 (0)1 75 77 54
65 finance@baikowski.com
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