SAINT-PRIEST, France–(BUSINESS WIRE)–Regulatory Information:
JACQUET METALS (Paris:JCQ):
Within 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 considerably impacted in June 2020 by the drastic exercise slowdown linked to the COVID-19 disaster, advantages at year-end from the rise in uncooked materials costs: in consequence, stock impairment at 2020 year-end ought to return to the 2019 year-end stage, round 15% of the Gross Worth of inventories (estimated GV €434m as of December 31, 2020), in comparison with round 18% on the finish of June 2020 (GV €470m as of June 30, 2020).
This lower in stock impairment improves the end result and allows the Group to anticipate 2020 Web earnings (Group share) near break-even(1).
Group annual outcomes shall be launched on March 9, 2021.
(1) As a reminder, web loss (Group share) for the 9 months ended September 30, 2020 was – €19 million (see November 18, 2020 press launch: « Outcomes as of September 30, 2020 »)
2020 Outcomes: March 9, 2021 (6.00pm CET)
JACQUET METALS is a European chief within the distribution of specialty steels. The Group operates and develops a portfolio which presently consists of three manufacturers:
JACQUET stainless-steel quarto plates – STAPPERT stainless-steel lengthy merchandise – IMS group engineering steels.
With a headcount of three,006 workers, JACQUET METALS has a community of 103 distribution facilities in 25 nations in Europe, China and North America.
ISIN : FR0000033904
Reuters : JCQ.PA
Bloomberg : JCQ FP