Lamprell Plc Expects FY EBITDA To Remain At Broadly Breakeven Levels
LONDON (dpa-AFX) - Lamprell Plc (LAM.L) issued trading update for the first six months of the year to 30 June 2021, and said it expects full-year EBITDA to remain at broadly breakeven levels.
Net cash declined to $81.1 million as on June 30, 2021 from $112.4 million at December 31, 2020, as projects enter critical working capital phase, with $55.0 million restricted on project bonds and guarantees. Bid pipeline increased 15% to $6.9 billion, momentum in renewables opportunities continues to improve.
Christopher McDonald, CEO of Lamprell said, Our strategy is now fully aligned with the broader energy transition. The work in recent years to reposition the business, reduce overheads and develop a strong track record in renewables has transformed Lamprell and provides us with an improving outlook.
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