Profit warning sets METEX's shares on track for worst day ever
30/06/2022 10:05
** Shares in Metabolic Explorer METEX.PA plummet over 40%
after the French biological chemistry company's profit warning
** The group expects a reduction in sales and a significant
impact of raw material costs on its group EBITDA, leading it to
consider a negative group EBITDA and to suspend the previously
communicated 2022 guidance of a turnover of 350 million euros
($365.47 million) and EBITDA margin of around 8% urn:newsml:reuters.com:*:nFWN2YG1BJ
** Gas supplies to companies, particularly during Q4 2022,
are likely to be impacted by recent geopolitical decisions, the
company says, adding that the health situation is also difficult
** Portzamparc cuts its rating to 'hold' from 'buy' as it
expects the reasons that led to the profit warning to last
beyond 2022
** The stock hits the lowest price in over 1.5 years and is
on track for its worst day ever
($1 = 0.9577 euros)
(Reporting by Michal Aleksandrowicz)
((michal.aleksandrowicz@tr.com))