Brief: Campine Expects Lower H1 Result Than In Former Years Due To Health Crisis

Campine NV

30/04/2020 17:50

April 30 (Reuters) - CAMPINE NV  CAMB.BR :
    * CAMPINE HAS REMAINED FULLY OPERATIONAL DURING CORONA
CRISIS
    * LOCKDOWN OF ECONOMY THROUGHOUT EUROPE HAS INCREASINGLY
MADE SOME
RAW MATERIALS SCARCE AND REDUCED AVAILABILITY OF OUR SECTOR'S
STANDARD PERSONAL PROTECTIVE EQUIPMENT
    * CAMPINE HAS THEREFORE DECIDED TO ADVANCE ITS YEARLY
MAINTENANCE
SHUTDOWN OF ITS METALS RECYCLING DIVISION FROM JULY TO END OF
MAY / EARLY JUNE
    * ON METALS RECYCLING: HALF YEAR RESULTS WILL BE NEGATIVELY
INFLUENCED BY LOW LEAD LME PRICE AND VOLUMES FOR MAY AND JUNE
WILL BE SIGNIFICANTLY LOWER DUE TO SHIFT OF SHUTDOWN INTO H1
    * ON METALS RECYCLING:  RESTART OF FURNACE WILL DEPEND ON
AVAILABILITY OF SCRAP BATTERY FEEDSTOCK
    * ON SPECIALTY CHEMICALS: DEMAND IS NOW SHOWING A DOWNWARD
TREND
AND WE EXPECT A VOLUME REDUCTION OF ROUGHLY 30% FOR MAY AND JUNE
    * ON SPECIALTY CHEMICALS: ALSO LOWERED ANTIMONY METAL PRICES
WILL
IMPACT HALF YEAR RESULTS OF THIS DIVISION.
    * SOME OF PROJECTS INCURRED DELAYS DUE TO AVAILABILITY OF
MATERIALS OR LABOUR
    * IS CONTINUING ALL INVESTMENTS WHICH HAD ALREADY STARTED
PRIOR TO
THE CRISIS
    * CAMPINE'S RESULT OF FIRST HALF YEAR WILL THUS BE
SUBSTANTIALLY
LOWER THAN IN FORMER YEARS
    * SOLID BALANCE SHEET, WITH A HIGH SOLVABILITY RATIO AND A
HEALTHY
CASH POSITION, NO FINANCIAL ISSUES ARE EXPECTED DURING 2020
    * WE WILL BE READY TO TAKE ADVANTAGE WHEN DEMAND WILL BE
RESTORING
IN SECOND HALF YEAR
    * IMPOSSIBLE TO GIVE A FORECAST FOR COMPLETE YEAR 2020


Source text for Eikon:  ID:nGNE1SztLj 
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