JACQUET METALS: The Group Anticipates 2020 Net Income (Group share) Close to Break-Even
19 Februar 2021 - 6:00PM
Business Wire
Regulatory News:
JACQUET METALS (Paris:JCQ):
In the context of the annual accounts closing as of December 31,
2020, the Group performs a valuation of its steels inventories.
The valuation of inventories, which was significantly impacted
in June 2020 by the drastic activity slowdown linked to the
COVID-19 crisis, benefits at year-end from the increase in raw
material prices: as a result, inventory impairment at 2020 year-end
should return to the 2019 year-end level, around 15% of the Gross
Value of inventories (estimated GV €434m as of December 31, 2020),
compared to around 18% at the end of June 2020 (GV €470m as of June
30, 2020).
This decrease in inventory impairment improves the result and
enables the Group to anticipate 2020 Net income (Group share) close
to break-even(1).
Group annual results will be released on March 9, 2021.
(1) As a reminder, net loss (Group share) for the 9 months ended
September 30, 2020 was – €19 million (see November 18, 2020 press
release: « Results as of September 30, 2020 »)
2020 Results: March 9, 2021 (6.00pm
CET)
JACQUET METALS is a European leader in the
distribution of specialty steels. The Group operates and develops a
portfolio which currently consists of three brands: JACQUET
stainless steel quarto plates - STAPPERT stainless steel long
products - IMS group engineering steels. With a headcount of 3,006
employees, JACQUET METALS has a network of 103 distribution centers
in 25 countries in Europe, China and North America.
Compartment B ISIN : FR0000033904 Reuters : JCQ.PA Bloomberg :
JCQ FP
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version on businesswire.com: https://www.businesswire.com/news/home/20210219005410/en/
JACQUET METALS Thierry Philippe – Chief Financial Officer
comfi@jacquetmetals.com
NewCap - Investor Relations Emmanuel Huynh Tel: +33 1 44 71 94
94 jacquetmetals@newcap.eu
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