Tessenderlo rises on 2022 profit guidance hike

Tessenderlo NV

22/06/2022 09:10

** Shares in Belgian chemicals group Tessenderlo  TESB.BR 
are up 4.2% after spiking as much as 5.9% on higher 2022 profit
outlook  urn:newsml:reuters.com:*:nFWN2Y80XX
    ** The group now expects adjusted EBITDA for the year to be
around 10% above 2021 levels, from flat year-on-year previously
    ** KBC says this reflects a good performance across most
divisions and notes it was expecting adjusted EBITDA for 2022 at
-2%
    ** The broker maintains "accumulate" rating citing the
stock's attractive valuation
    ** Shares are on track for their best day in more than three
months, outperforming Belgium's BEL 20 index  .BFX  which falls
2%

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))