Trailer Magazine

Capral announces market update

  • Posted on Tuesday 4th, August 2020.

Aluminium specialist, Capral, has provided earnings guidance for the half year ended 30 June 2020.

Capral, based on unaudited management accounts, anticipates that trading EBITDA for the half year to 30 June 2020 will be approximately $10.2 million (H1 2019: $2.4 million), with EBITDA for the half year around $17 million (H1 2019: $3.4 million).

Net profit after tax for the six months ended 30 June 2020 will be approximately $4.8 million compared to the comparative prior period loss of $8.4 million.

Capral's order intake, having performed in line  with budget for Q1 2020, began to decline rapidly in April, prompting management to implement cost saving initiatives to meet Covid-19 challenges.

Revenues declined during May, at which time Capral enrolled in the Government's JobKeeper initiative to preserve employee jobs. Since June, order intake and revenues has improved on the back of increased market share against imports.

The latest half year result benefitted from cost savings implemented in April, restructuring of Bremer Park completed in H2 2019 and receipt of $4.4 million worth of JobKeeper payments for May and June.

Capral is expected to announce final auditor reviewed results for the half year ended 30 June 2020 on 21 August 2020.

In other news, Melbourne-based Linear Metal Polishing has been providing the mirror finish on Capral Aluminium’s products for around 20 years.

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