The Tyrolean Wolftank-Adisa, which has been listed on the stock exchange in Vienna – and also in Munich – since January, is suffering in China from the restrictions caused by the coronavirus epidemic. The company announced that the company vacation of the employees of the China subsidiary, which works in the field of environmental protection and tank renovation, was extended until February 10.
With further delays in ongoing and upcoming projects in 2020, sales, EBITDA and pre-tax profit could suffer significant losses – even if there have so far been hardly any negative effects on business success. According to CEO Peter Werth after an analysis of the situation at the China subsidiary, “one is confident that if the situation normalizes in the first quarter through already planned capacity expansion measures, this effect can be compensated for again in the second half of 2020”.
Wolftank-Adisa Holding AG, headquartered in Innsbruck, focuses on environmental protection services for contaminated soils, facilities and water, the refurbishment and monitoring of tank systems as well as engineering services for (LNG) tank systems. In the first half of 2019, the group had sales of EUR 26.3 million, 61.5 percent more than in the same period in 2018. The operating profit (EBIT) was EUR 2.1 million. In 2019 as a whole, the company wanted to achieve sales of EUR 50 million and EBIT of EUR 3.2 million, it was said in September. (Apa / red)
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