Cenergy Holdings reports €300M revenue in the 1Q2022
Cenergy Holdings S.A. announced its financial information for the first quarter of 2022.
According to the company's official press release there was observed a solid start to the year with improved profitability and revenue.
Revenue at €300 million, 31% higher than prior year’s corresponding quarter.
Steady order backlog at €1 billion as of March 31, 2022; several awards around the globe for steel pipes segment.
Improved operational profitability and stable profit margins: a-EBITDA at €22.6 million, 25% higher compared to Q1 2021, driven by strong growth in cables; EBITDA rises to €25.8 million, 39% higher y-o-y (Q1 2021: €18.6 million) confirming Cenergy Holdings’ resilience to the highly volatile and challenging market conditions.
Strong consolidated profit before tax of €12.3 million vs. €4.9 million in Q1 2021.
Revenue grew by 31% on a yearly basis to €300 million, supported by a strong demand for cables products and furthered by timely and careful execution of cables projects already in the order backlog, coupled with favourable LME metal prices. Demand in the steel pipes segment rebounded reinforcing the basis for a steady order backlog and high-capacity utilization for the remainder of the year.
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