Tessenderlo rises on 'sequential improvement' in FY results

Tessenderlo NV

26/03/2025 09:14

** Shares in Belgian chemicals group Tessenderlo TESB.BR rise around 5% in choppy trade, reversing course after dropping as much as 6%

** Rise might be on realisation that H2 saw a sequential improvement in selected key segments, namely Agro, Kepler Cheuvreux analyst Christian Faitz says

** EBITDA was down 17% y/y but group's 2024 results are in-line with a lowered outlook, with Agro division seeing a strong beat, says ING

** Adjusted EBITDA of Agro segment increased 21% y/y to 47.0 million euros

** "Whilst business conditions in a number of end markets are clearly challenging, Tessenderlo is still generating a sizeable cash flow," KBC says

** Including Wednesday's rise shares are up 30% YTD​

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))