(Teleborsa) – Landi Renzo – a company listed on the STAR segment and active in the sector of CNG, LNG, Hydrogen and LPG fuel systems and components for motor vehicles – recorded a sales consolidated amount of 96 million euros in the first half of 2021, up 60.3% compared to 59.9 million euros at 30 June 2020.EBITDA adjusted amounted to 4.5 million euros (4.7% of revenues), compared to 1.9 million euros at 30 June 2020, while the Net income it was 2.1 million euros, compared to a loss of 6.7 million euros a year earlier.
“It was a very challenging half year for our group, which saw us engaged in the restart of our traditional business in the Passenger Car OEM and After Market segment and in some very significant extraordinary transactions”, commented CEO Cristiano Musi. “The Automotive sector, albeit slightly improving, was impacted by the rise in the prices of raw materials and the well-known critical issues that characterized the Passenger Car segment in this first semester – he added – Furthermore, some markets, in particular the Latam and European ones, they have not yet returned to pre-pandemic levels, but we have managed to manage the shortage of components, and we already see signs of improvement in the third quarter ”.
The Net Financial Position at June 30, 2021, it amounted to € 99,554 thousand (€ 72,917 thousand at December 31, 2020), of which 11,108 thousand due to the application of the international accounting standard IFRS 16. Without considering the effects deriving from the application of this accounting standard and the fair value of derivative financial instruments, the Net Financial Position at 30 June 2021 would have been equal to 88,163 thousand, of which 7,967 thousand attributable to the Clean Tech Solutions sector.
Due to the continuing difficulties of the Automotive sector, the management has revised the forecasts for the year 2021. Sales revenues should amount to 230 million euros, of which 170 million relating to the Automotive sector and 60 million to the Clean Tech Solutions sector, and an overall adjusted EBITDA margin between 17 million and 20 million euros, of which between 10 million and 12 million relating to the Automotive sector and between 7 million and 8 million relating to the Clean Tech Solutions sector.
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