Due to the current uncertain macroeconomic climate, Picanol Group anticipates its adjusted EBITDA for FY 19 to be lower to as compared to 2018. The company also believes that current slowdown in the global machine market will not be compensated by the segments of Tessenderlo Group.

Tessenderlo Group forecasts the adjusted EBITDA for 2019 to be approximately 270 million euro. This includes the full year contribution of T-Power for approximately 50 million euro, as well as the impact of IFRS 16 Leases for approximately 25 million euro. This amount is significantly higher as compared to the adjusted EBITDA of 177.8 million euro in 2018, when T-Power was only included for the fourth quarter of 2018 for 13.5 million euro.

This revised outlook for the financial year, 2019 reflects the extension of the agro season in the US, which has resulted in increased volumes within crop vitality, and a volume increase and improved mix within bio-valorisation.