Antalis - Estimated operational performance for first-half 2020

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Antalis expects to generate sales of approximately €817 million in first-half 2020, down 23.3% on H1 2019 on a comparable basis (-23.8% on a reported basis).

The gross margin should come in at €202 million, down 22.5% on a comparable basis (-22.8% on a reported basis) with a gross margin rate at 24.7% (an improvement of +0.3 points).

These results mainly reflect the negative impact of the Covid-19 pandemic on the economic activity and the decline in demand, particularly in the Papers business in a European market that contracted by approximately -25% in the first half of the year compared to the same period in 2019.

Antalis’ Packaging business held up well overall and, together with Visual Communication, contributed 44% of the Group’s consolidated gross margin, up five points compared with H1 2019.

Under these circumstances, Antalis expects its EBITDA margin rate (excluding the impact of IFRS 16) to decline by around 2 points from 2.8% in first-half 2019.

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Source: Antalis