The company is cutting costs where it can and has secured a €350m loan, partly backed by the Italian export credit facility. Investments are also on hold, with capex of €55m in 2021, down from €159m previously. This will help the company withstand the tough times ahead as it now guides for a recovery starting in H2.
31 Mar 2021
Q4: still under pressure
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Q4: still under pressure
- Published:
31 Mar 2021 -
Author:
Kevin VO -
Pages:
3
The company is cutting costs where it can and has secured a €350m loan, partly backed by the Italian export credit facility. Investments are also on hold, with capex of €55m in 2021, down from €159m previously. This will help the company withstand the tough times ahead as it now guides for a recovery starting in H2.