HP3A Ringmetall SE

By Paulo Trevisani

German packaging supplier Ringmetall SE said Monday it raised its full-year guidance, citing forex as a factor.

The Munich-based company said it now expects revenues to reach up to EUR160 million this year, higher than the previous guidance of up to EUR145 million. It said the review takes into consideration "the exchange rates of the euro to the US dollar, the Turkish lira and the British pound compared with the end of the year."

Ringmetall reported that revenue increased 25.6% to EUR78.3 million in the first half of the year from a year earlier, due in part to exchange rates.

So far this year, the euro has weakened 9.7% versus the Turkish lira and strengthened 5.1% to the pound and 3.6% to the U.S. dollar.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

August 16, 2021 11:08 ET (15:08 GMT)

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