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| 2021 second quarter sales and first half results Sales growth on the same day in the second quarter + 32.3%, accelerating after being strong in the first quarter H1 adjustment. Driven by sales growth and digital transformation, EBITA’s profit margin is 5.6% Recently upgraded FY21 guidance configurationBenefit from strong growth momentum |
→ In the second quarter of 2021, sales were 3,726.6 million euros, In an environment where prices are rising sharply and products are scarce, use our capabilities to ensure customer business continuity
- On a fixed and same-day basis, sales in the second quarter of 2021 increased by +32.3% compared with the second quarter of 2020, and increased by +9.6% compared with the second quarter of 2019; continuous acceleration with 2021 Compared to the first quarter (+5.4% compared to the first quarter of 2019)
- Sales growth on the same day +32.3% Strong sales rebound (contribution: +22.1%) and aggressive pricing of wired (contribution: +6.5%) and non-wired products (contribution: +3.6%)
- The major countries’ markets have performed well, Including in the U.S., organic sales have returned to 2019 levels
→ H1 21 adj. EBITA profit margin increased by +232 basis points to 5.6% (Higher than the 4.7% profit margin in 1H19) comes from digital penetration rate (22.6% of sales in the second quarter of 21, an increase of +123, bps includes 33.2% of European sales), price increase management and operational excellence. It shows the results of our profound changes in the past 5 years.
→ Recurring net income in the first half of 2021 was 241.7 million euros, an increase of 192.9%, From the highest EBITA performance and optimized balance sheet in history
→ Free cash flow before interest and taxes in the first half of 2021 was 116.3 million euros (17.3 million euros in the first half of 2019) from solid operating performance and active working capital management
→ Strong free cash flow to achieve rapid deleveraging, Which strengthened our confidence in achieving a debt ratio of 1.5 times to 2 times in FY21 based on M&A opportunities
→ Confirm recent upgradeDeveloped guidelines for the 21st fiscal year, There is strong upside potential in all regions, especially in North America, where trading volume (excluding inflation) is still 15% below pre-crisis levels
| Key person1 (€m)-actual | First half of 2021 | First half of 2020 | The first half of 2019 | First half of 2021 Compared to the first half of 2020 |
First half of 2021 Compared to the first half of 2019 |
|||||
| Sales volume | 7,057.8 | 6,045.6 | 6,799.5 | |||||||
| On the basis of the report | +16.7 | % | +3.8 | % | ||||||
| On a constant and practical basis | +19.4 | % | +7.3 | % | ||||||
| On a constant and same day basis | +19.9 | % | +7.6 | % | ||||||
| Gross margintwenty three | 1,805.6 | 1,486.7 | 1,698.6 | +24.2 | % | +9.8 | % | |||
| As a percentage of sales | 25.6 | % | 24.6 | % | 25.0 | % | 99 basis points | 59 basis points | ||
| Adjusted EBITA2 | 398.2 | 199.3 | 319.2 | +103.0 | % | +30.3 | % | |||
| As a percentage of sales | 5.6 | % | 3.3 | % | 4.7 | % | 232 basis points | 99 basis points | ||
| Reported EBITA | 442.4 | 192.3 | 319.6 | +130.0 | % | +38.4 | % | |||
| operateg Income (loss) | 435.1 | (296.8) | 290.1 | Not applicable | Not applicable | |||||
| Net income (loss) | 270.6 | (439.8) | 163.9 | Not applicable | Not applicable | |||||
| Recurring net income | 241.7 | 82.5 | 167.7 | +192.9 | % | +44.1 | % | |||
| Before FCFRe-interest and taxes | 116.3 | 176.8 | (17.3) | (60.5) | +133.6 | |||||
| Net debt at the end of the period | 1,523.0 | 1,690.3 | 2,172.6 | Reduction of 167 million euros | 650 million euro reduction | |||||
1 Please refer to the definition in the glossary section of this document 2 Changes in comparable consolidation ranges 3 Adjusted for non-repetitive copper effects
| Chief Executive Patrick BERARD said:
“Proving… |
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