Guala Closures responds to the challenge of Covid-19 with a strong first-half performance

Guala Closures’ preliminary data for the first half of 2020 revealed satisfactory economic results despite the impact of the Covid-19 pandemic.

Net revenues totalled about €272.3 million at current exchange rates (6.4% down on the first half of 2019) and €281.8 million at constant exchange rates (-3.2%).

Sales losses were limited by the company’s strong business resilience, geographical, product and customer diversification, and a good performance in the US market.

Conversely, sales fell in the Asian market, particularly in India where the government imposed a lockdown for almost the entire month of April, and in the UK, which is more focused on global brands and the duty free market.

The company’s net financial debt at the end of June 2020 stood at €483.3 million, in line with the first half of 2019 when it reported a financial position of €486.2 million.