ALTDORF, Switzerland—Elastomer components manufacturer Datwyler Group expects a challenging second half in 2022 as the ongoing Russian war on Ukraine continues to create further uncertainty.
The Swiss group anticipates "low visibility, tighter supplies and high prices for upstream products globally" in the second half, in addition to fears of natural gas shortage and electricity supply in Europe, said Datwyler in its first half financial report Aug. 24.
"Datwyler plants themselves have only a minor direct dependency on Russian natural gas, but there may be indirect impacts through customers and suppliers," the group added.
Sales from continuing operations grew by nearly 12 percent year-on-year to $552.8 million, while operating result (EBIT) declined to $73.9 million, down 27 percent compared to the first half of last year.
EBIT margin fell to 13.4 percent from 18.3 percent reported in 2021, while earnings (EBITDA) from continuing operations decreased 9 percent to $112.2 million.
During the reporting period, Datwyler posted a 13-percent increase in health care revenue to $271.3 million, reflecting "a slight rise in revenue from components for (COVID-19) vaccines."