February 19, 2021 - 6.00pm CET

The Group anticipates 2020 Net income (Group share) close to break-even.

In the context of the annual accounts closing as of December 31, 2020, the Group performs a valuation of its steels inventories.

The valuation of inventories, which was significantly impacted in June 2020 by the drastic activity slowdown linked to the COVID-19 crisis, benefits at year-end from the increase in raw material prices: as a result, inventory impairment at 2020 year-end should return to the 2019 year-end level, around 15% of the Gross Value of inventories (estimated GV434m as of December 31, 2020), compared to around 18% at the end of June 2020 (GV470m as of June 30, 2020).

This decrease in inventory impairment improves the result and enables the Group to anticipate 2020 Net income (Group share) close to break-even(1).

Group annual results will be released on March 9, 2021.

(1) As a reminder, net loss (Group share) for the 9 months ended September 30, 2020 was -€19 million (see November 18, 2020 press release: « Results as of September 30, 2020 »)

2020 Results: March 9, 2021 (6.00pm CET)

JACQUET METALS is a European leader in the distribution of specialty steels. The Group operates and develops a portfolio which currently consists of three brands:

JACQUET stainless steel quarto plates - STAPPERT stainless steel long products - IMS group engineering steels.

With a headcount of 3,006 employees, JACQUET METALS has a network of 103 distribution centers in 25 countries in Europe, China and North America.

JACQUET METALS

Thierry Philippe - Chief Financial Officercomfi@jacquetmetals.com

NewCap - Investor Relations

Emmanuel Huynh

Tel: +33 1 44 71 94 94jacquetmetals@newcap.eu

Compartment B

ISIN : FR0000033904 Reuters : JCQ.PA Bloomberg : JCQ FP

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Jacquet Metal Service SA published this content on 19 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2021 10:49:06 UTC.