Brief: Campine H1 Operating Profit Drops To EUR 0.1 Million

Campine NV

24/09/2020 06:57

Sept 24 (Reuters) - Campine NV  CAMB.BR :
    * REG-RESULTS FIRST HALF 2020
    * DURING FIRST SEMESTER OF 2020 CAMPINE ACHIEVED A REVENUE
OF 82,7
MIO EUR
    * H1 VOLUMES AS WELL AS METAL PRICES WERE ON AVERAGE
SUBSTANTIALLY
LOWER COMPARED TO SAME PERIOD IN 2019
    * H1 PROFIT AFTER TAXES AMOUNTED TO 103 KEUR (2019: 2,33 MIO
EUR)
    * H1 OPERATING PROFIT EUR 0.1 MILLION VERSUS EUR 3.2 MILLION
YEAR
AGO
    * COMPANY SAVED 1,5 MIO EUR IN EXPENSES IN FIRST SEMESTER
AND
SEIZED SEVERAL OPPORTUNITIES TO LIMIT VOLUME LOSS
    * MAKING A PROGNOSIS FOR FULL YEAR 2020 REMAINS VERY
DIFFICULT
CONSIDERING VOLATILE AND UNCERTAIN MARKET CONDITIONS
    * IF HOWEVER RAW MATERIAL PRICES RETAIN THEIR RISE, WE
EXPECT TO
CLOSE YEAR WITH PROFIT
    * END-H1 SOLVENCY RATIO OF 54%
    * DOES NOT EXPECT FINANCING PROBLEMS IN THE NEAR FUTURE
    * DEMAND FOR OUR SPECIALTY CHEMICALS PRODUCTS IS RESTORING
VERY
SLOWLY. WE EXPECT TO REACH PRECOVID LEVELS ONLY BY THE LAST
QUARTER OF 2020
    * IN OUR METALS RECYCLING DIVISION WE REACHED NORMAL DEMAND
LEVELS
SINCE JULY

Source text for Eikon:  ID:nGNEc3s5jK 
Further company coverage:  CAMB.BR 

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