Wed 03/10/2021 12:46 PM
Dutch plant and flower business Dümmen Orange is forecasting €351.8 million in revenue and €37.3 million of EBITDA for the financial year 2021, sources told Reorg.
The company hit its revenue budget of €39.2 million in January. An EBITDA of €10.5 million was above the budget of €8.9 million. The company had about €9.2 million of cash at the end of January, sources added.
LTM EBITDA to January 2021 increased by 25% sequentially to €25.6 million from an LTM EBITDA to September 2020 of €20.4 million, according to sources.
The group also received unanimous lender approval for its
restructuring agreement, which featured a 60% haircut to the original €425 million term loan and a 60% haircut to the original €70 million RCF.
As a result, the company will be able to avoid an English Scheme of Arrangement and will implement the deal via the Dutch courts.
BC Partners declined to comment.
--Mario Oliviero, Aurelia Seidlhofer
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