Winchuang Extrusion Pelletizing Machine ManuoFacturer sales fell 14% year -on -year sales by 14% year -on -year

Date:2022-8-08 Author:Sam

Faced with the global economic recession caused by the new crown epidemic, the second quarter sales of Yingchuang Industrial Group were 2.83 billion euros, a year -on -year decrease of 14%. \”Yingchuang is actively dealing with the epidemic crisis. From the performance of the second quarter, we can see the practical impact of the epidemic. Nevertheless, through the implementation of the strategic adjustment of the product portfolio and the implementation of the efficiency plan, the company’s overall performance in the first half of the year It is better than expected, especially our strong growth business sector. \”Ku Leman, chairman of Yingchuang Industrial Group, commented. TIMG.JPG Yingchuang once again confirmed that the 2020 annual expectations announced on May 7: sales are expected to be between 11.5 billion euros and 13 billion euros, and the adjustment of EBITDA is between 1.7 billion euros and 2.1 billion euros. \”We see that some markets have begun to show preliminary recovery signs. Nevertheless, the overall economic recovery prospects are still unclear. The crisis caused by the new crown epidemic has not ended.\” Said UTE Wolf, Chief Financial Officer. Part of the business of the resource efficiency business sector has been significantly affected due to the decline in demand, while others remain stable. The development of wind market has driven the demand for cross -linking products. Thanks to the good development trend of special products such as Peroxychem, a producer of hydrogen peroxide and peroxycetic acid, which was acquired in early February, the sales of active oxide products also increased. On the other hand, the global economic slowdown and the reduction of customers, especially the reduction of production in the automotive industry, have led to a decline in sales of high -performance plastics, silicon and silicanes used in the tire industry. In the second quarter, sales of resource efficiency business sector fell 14 % to 1.24 billion euros. After adjustment, EBITDA fell 22 % to 255 million euros. In the second quarter of nutrition and consumer chemical business sectors, sales of the second quarter decreased by 4 % to 1.09 billion euros. After adjustment, EBITDA increased by 14 % to 217 million euros, and the overall performance remained strong. Among them, the market prices and demand for the essential amino acid products of the animal nutritional business line have increased. The medical and health business line continues to perform well in pharmaceutical, food raw materials, and medicinal polymers. However, the demand for polyurethane foam additives has declined. In the second quarter of the functional material business sector, sales of the second quarter dropped sharply by 42 % to 319 million euros. The market demand is weak, especially the automotive and oil industries, which has seriously affected the functional intermediate business line. In addition, the sharp decline in oil prices also puts huge pressure on the business. The lack of market demand also led to the decline in sales of functional solution business lines. After the adjustment of this business sector, EBITDA decreased by 85 % to 11 million euros.