Picanol Group: Upward revision of 2021 outlook as a Result of Impact of Tessenderlo Group’s Agro Segment

24 November 2021, Mumbai:

Picanol Group (Euronext: PIC) anticipates the Adjusted EBITDA for 2021 to be approximately 15% higher than 2020 Adjusted EBITDA (361.7 million EUR). The previous outlook projected 2021

Adjusted EBITDA to be approximately 10% higher than the 2020 Adjusted EBITDA.

Tessenderlo Group (Euronext: TESB) anticipates the Adjusted EBITDA for 2021 to be approximately 10% higher than 2020 Adjusted EBITDA (314.6 million EUR). The previous outlook is projected for 2021.

Adjusted EBITDA to be in line with the 2020 Adjusted EBITDA. This revised outlook for the 2021 financial year reflects the continued favorable market conditions in the Agro segment. Picanol Group will announce its full results for 2021 on March 24, 2022.

About Picanol Group

Picanol Group is a diversified industrial group and it is active worldwide in the fields of mechanical engineering, agriculture, food, energy, water management, the efficient (re)use of natural resources, and other industrial markets.

The group's products are used in a variety of applications, industrial and consumer markets. Picanol Group realized a consolidated turnover of 2.2 billion EUR in 2020. Picanol Group has approximately 7,000 employees worldwide and it is listed on Euronext Brussels (PIC) via Picanol nv. Source: Picanol

(The news article has not been edited by DFU Publications staff)

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