Belgium's industrial group Picanol reports FY20 revenue of €2,188 mn

Picanol Group, a diversified industrial group, has reported marginal 1 per cent revenue decline to €2,188.5 million in its fiscal 2020 ended on December 31, 2020 compared to the revenue of €2,221.4 in the previous fiscal. However, profit attributable to the equity holders of the company for 2020 rose to €55.4 million (FY19: €41.7 million).

 

Picanol Group, a diversified industrial group, has reported marginal 1 per cent revenue decline to €2,188.5 million in its fiscal 2020 ended on December 31, 2020 compared to the revenue of €2,221.4 in the previous fiscal. However, profit attributable to the equity holders of the company for 2020 rose to €55.4 million (FY19: €41.7 million).#

Gross profit for FY20 was €524.2 million (€455.6 million). Profit from the operations increased to €158.2 million (€75.4 million). The group’s profit for the year was €86.8 million (€64.0 million).

 

Picanol Group, a diversified industrial group, has reported marginal 1 per cent revenue decline to €2,188.5 million in its fiscal 2020 ended on December 31, 2020 compared to the revenue of €2,221.4 in the previous fiscal. However, profit attributable to the equity holders of the company for 2020 rose to €55.4 million (FY19: €41.7 million).#

Revenue of Machines & Technologies dropped 6 per cent to €451.3 million (€478.4 million) with strong recovery in second half of FY20. Whereas, Agro segment’s revenue fell 3 per cent to €582.9 million (€602.8 million). Bio-Valorization revenue increased 6 per cent to €575.7 million (€543.1 million), and Industrial Solutions sales came down to €509.1 million (€526.0 million).

 

Picanol Group, a diversified industrial group, has reported marginal 1 per cent revenue decline to €2,188.5 million in its fiscal 2020 ended on December 31, 2020 compared to the revenue of €2,221.4 in the previous fiscal. However, profit attributable to the equity holders of the company for 2020 rose to €55.4 million (FY19: €41.7 million).#

The group in its outlook stated that it anticipates a continued high level of uncertainty in the first half of 2021 due to the ongoing Covid-19 pandemic, where the development of customer demand and margin is likely to be exposed to increased risk. However, based on the current situation, Picanol Group is anticipating an adjusted EBITDA for the full financial year 2021 that will be in line with that of 2020.