Meten EdtechX Announces Financial Results for the Second Quarter and the First Half Year ended June 30, 2020
Meten Holding Group Ltd. - Ordinary Shares (METX)
Company Research
Source: GlobeNewswire
Strong demand for online ELT and gradual reopening of the learning centers drive steady recovery in revenues and operating cash flow compared to the previous quarter SHENZHEN, China, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading English language training (“ELT”) service provider in China, today announces its unaudited financial results for the second quarter and the first half year ended June 30, 2020. Q2 2020HY 2020 RMB (m)YoY (%)QoQ1 (%)RMB (m)YoY (%)Gross billings160.9(57.7%)29.2%285.4(60.1%) Revenue189.3(47.0%)4.3%370.9(44.8%) EBITDA2(75.2)83.9%(15.6%)
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