Tessenderlo: Falls on weak Q4, flat outlook

Tessenderlo NV

14/03/2018 08:41

** Shares of Belgian chemicals group Tessenderlo  TESB.BR 
down 2 pct to their lowest level in more than a year after weak
Q4 results
    ** Quarterly recurring EBITDA fell c. 26 pct to EUR 24.3
MLN, falling short of KBC estimates (on "Hold")
    ** Co expects a flat 2018, anticipating 2018 REBITDA to be
in line to that of 2017, "well below" broker KBC's forecasts
 urn:newsml:reuters.com:*:nL8N1QV37S 
    ** Results published were weak, "falling mainly short in
Biovalorization and Industrial Solutions clusters," says
brokerage
    ** KBC flags weaker USD and potentially the competition for
Kerley from Koch conglomerate as important headwinds


 ((Nolwenn.brossier.thomsonreuters.com@reuters.net))