Jacquet Metal Service : Q1 2020 results close to our expectations – Market conditions set to remain complicated
>Q1 2020 sales totalled € 413m, down 10.3% / underlying operating profit of € 7m (-59%) - Yesterday evening, Jacquet Metal Service reported Q1 sales close to our expectations. Business was hit by i/ market conditions that remained difficult, particularly at IMS and ii/ the COVID-19 crisis that led to the closure of sites in mid-March in Southern Europe. Sales mounted to € 413m (vs € 410.5m est.), down 10.3% y-o-y, comprising a volume effect of -9.8% and a price effect...Jacquet Metal Services is a European distributor of specialty steels, also active in China and the U.S.A. Co.'s main activity consists of purchasing, storing, and delivering different families of products. Co. is active in four markets for the distribution of special steels through four brands: JACQUET (distribution of stainless steel thick "Quarto" plates); Stappert (distribution of long stainless steel products); Abraservice (distribution of wear-resistant "Quarto" plates); IMS group (distribution of engineering steels). Co.'s main consumer sectors are the following industries: chemical; agro foods; treatment and storage of gases; water treatment; environment and cleanup; and energy.
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