Company News Summary | 12 Feb 2019

Click the print icon in your browser to print this report. Currency is in AUD unless otherwise specified

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

10:14:00 | Associate analysts

Original annuncemenet: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.

This report appeared on 2019 Morningstar Australasia Pty Limited

© Copyright 2019 Morningstar Australasia Pty Ltd ABN: 95 090 665 544 ("Morningstar"), AFSL no 240892. (a subsidiary of Morningstar, Inc.). This information is to be used for personal, non-commercial purposes only. No reproduction is permitted without the prior written content of Morningstar. Some of the material provided is published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO").

DISCLAIMER: To the extent that any of the content above constitutes advice, it is general advice that has been prepared without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain appropriate financial, legal and taxation advice before making any financial investment decision. If applicable, investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Please refer to our Financial Services Guide (FSG) for more information at FSG or phone Morningstar on 1800 03 44 55 to request a copy. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for any use or distribution of any of this information

DISCLOSURE: Employees may have an interest in the securities discussed in this report.