Zardoya posted a declining H1 20 revenue (-1.8% yoy) driven by its new installations (-3.9% yoy) and exports (-4.2% yoy) segments, but less by the services segment (-0.6% yoy). Offsetting this revenue contraction, production material costs decreased by 7.9% yoy. This performance translated into net income of €65.4m (-2.9% yoy). The company gave no guidance for FY20, though we expect revenue to shrink slightly (c.-1% yoy), keeping its profitability unchanged.
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Service-driven Zardoya looking more European
- Published:
10 Aug 2020 -
Author:
David Chaucayanqui -
Pages:
3
Zardoya posted a declining H1 20 revenue (-1.8% yoy) driven by its new installations (-3.9% yoy) and exports (-4.2% yoy) segments, but less by the services segment (-0.6% yoy). Offsetting this revenue contraction, production material costs decreased by 7.9% yoy. This performance translated into net income of €65.4m (-2.9% yoy). The company gave no guidance for FY20, though we expect revenue to shrink slightly (c.-1% yoy), keeping its profitability unchanged.