Ringmetall SE / Key word(s): Change in Forecast
Ringmetall SE again significantly raises revenue and earnings forecast
Munich, 18 October 2021 - Ringmetall SE (ISIN: DE000A3E5E55) is once again significantly raising its forecast for the development of revenue and earnings in the full year 2021. Based on initial business figures on the company's development in the third quarter and the budget planning for the fourth quarter, the company will close the fiscal year significantly better than previously expected.
The decision is based, on the one hand, on unchanged dynamic demand for drum closure systems and a normalization of demand in the inliner product area. The Industrial Handling Business Unit is also characterized by a continuously increasing order situation. At the same time, profit margins are establishing themselves at levels well above the average of recent years as a result of sustained efficiency improvements. Sales visibility extends to the middle / end of November and therefore allows comparatively reliable conclusions to be drawn about developments in the remainder of the year.
The raised forecast assumes consolidated revenues of between EUR 163 and 173 million (previously: EUR 150 to 160 million) and EBITDA of between EUR 24 and 26 million (previously: EUR 17 to 19 million). The adjusted forecast includes extraordinary effects from the waiver of a Corona-related loan in the USA in the amount of EUR 0.8 million and the effects expected for the full year 2021 from changes in raw material prices as well as in the exchange rates of the euro to the US dollar, the Turkish lira and the British pound compared to the end of the year. Also included are effects expected to date from the acquisition of HOSTO. It does not include possible effects from company acquisitions. The Management Board continues to assess the market environment in this respect as positive.
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Information and Explanation of the Issuer to this News:
About the Ringmetall Group
Ringmetall is a leading international specialist supplier in the packaging industry. The Industrial Packaging business unit offers high-security closure systems and inliners for industrial drums for the chemical, petrochemical, pharmaceutical and food processing industries. The Industrial Handling Business Unit develops application-optimized vehicle attachments for handling and transporting packaging units. In addition to the Group headquarters in Munich, Ringmetall is represented by worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands as well as China and the USA. Worldwide, Ringmetall generates sales of around EUR 170 million per year.
18-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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