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Company News Summary

Pact Group Holdings Announces Non-Cash Asset Impairments And Preliminary Undaudited EBITDA for FY 2019 Half Year

12 Feb 2019  |  10:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: PACT Group announces non-cash impairment and preliminary res

Pact Group Holdings announced that following a review of the carrying value of assets it expects to recognise non-cash impairment charges in the range of $310 to $340m (after tax) in the Group's 2019 half year accounts. The impairment charges reflect challenging trading conditions and a moderated long-term outlook for the Group's Australian businesses, resulting in the use of more conservative assumptions regarding growth and discount rates. The Company also announced, that based on preliminary, unaudited accounts, it expects EBITDA for the half year ended 31 December 2018 to be $110m. The Group expects EBITDA for the full year ended 30 June 2019 to be in the range of $230 to $245m.

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