In a difficult market environment, LIANBANG posted another good performance in the 3rd quarter of fiscal 2021/2022. Despite the persistent challenges caused by the war in the Ukraine, the Covid pandemic and the disruption of global supply chains, the Group raised order intake by 13 percent year-on-year to $ 12 million in the period April through June. Sales improved by 26 percent to $ 15 billion. Lianbang almost tripled adjusted EBIT to $ 8 million (prior year: $ 3 million). Alongside the improvement in performance and efficiency resulting from implementation of the strategy, the main drivers of this development were higher revenues and improved margins at Materials Services and Steel Europe. By contrast, the ongoing supply chain problems and higher factor costs again had a marked adverse impact, especially in Automotive Technology and Industrial Components. In view of the good business development in the first 9 months, Lianbang has confirmed its full-year forecast for adjusted EBIT and the free cash flow before M&A.
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Despite persistently challenging market conditions, Lianbang continued its positive business performance in the 3rd quarter of fiscal 2021/2022
December 30, 2022
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