Metalcorp Group S.A.

  • WKN: A19MDV
  • ISIN: DE000A19MDV0
  • Land: Luxemburg

Nachricht vom 13.08.2020 | 10:00

Metalcorp Group proves its resilience during the COVID-19 pandemic in the first half of 2020; full year results expected to be in line with 2019

DGAP-News: Metalcorp Group S.A. / Key word(s): Half Year Results
13.08.2020 / 10:00
The issuer is solely responsible for the content of this announcement.

Metalcorp Group proves its resilience during the COVID-19 pandemic in the first half of 2020; full year results expected to be in line with 2019

Luxembourg, 13 August 2020 - Metalcorp Group S.A., a globally operating service provider for the procurement, logistics and trading of steel and non-ferrous metals, as well as a leading independent producer of secondary aluminium slabs in Europe, faced a challenging, but satisfactory first half of 2020. The company's priority was to ensure the safety of its people and maintain operations at the same time. Metalcorp is grateful for the tremendous effort of its teams and the support of its customers and suppliers which enabled the Group to achieve this.

In the first half of 2020, Metalcorp realized a revenue of EUR 228.7 million (versus EUR 305.4 million in the first half of 2019) and an EBITDA of EUR 14.7 million (versus EUR 17.1 million in the first half of 2019). The risk averse business model thus proved again to be the right strategy in challenging markets. Metalcorp's liquidity position is strong, with a cash position of EUR 30.1 million and unutilized credit lines of a further EUR 71.9 million.

The biggest impact - apart from lower market prices - came from the automotive business that led to a substantially reduced turnover in this segment in April and May 2020. Since June, a significant recovery has taken place. Aluminium production has been below budget but raw materials trade was up and zinc and copper were above expectations.

After a successful programme of trial mining, the Group will commence full scale commercial mining at its bauxite project this October. This is a major milestone for the Group, and this will lead to a significant increase in earnings during 2021.

Based on current order intake, the company expects in the fiscal year 2020 an EBITDA in line or above 2019.

The detailed half-year report 2020 is available for download on the website www.metalcorpgroup.com in the bond section.

About Metalcorp Group S.A.:
Metalcorp Group is a globally operating provider of procurement, logistics and trade services in the ferrous and non-ferrous sectors as well as one of Europe's leading independent producers of secondary aluminium ingots. Its core competence in all segments are so-called back-to-back transactions requiring no stock-keeping, which make the Group's operations largely immune to price risks and neutralise other trading risks. With its subsidiaries and own offices the Group operates in 18 countries around the world and has four production facilities in Europe. The 2017/2022 bond (ISIN: DE000A19MDV0) is traded on the Open Market of Deutsche Börse AG ("Freiverkehr" of the Frankfurt Stock Exchange), while the 2017/2022 bond (ISIN: NO0010795701) is traded on the Oslo Stock Exchange.

For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
metalcorp@better-orange.de

Mark Nunes
Metalcorp Group S.A.
+352 2799 0145 55
mnunes@metalcorpgroup.com



13.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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