April 30, 2020 / 4:55 PM / a month ago

BRIEF-Campine Expects Lower H1 Result Than In Former Years Due To Health Crisis

April 30 (Reuters) - CAMPINE NV:

* CAMPINE HAS REMAINED FULLY OPERATIONAL DURING CORONA CRISIS

* LOCKDOWN OF ECONOMY THROUGHOUT EUROPE HAS INCREASINGLY MADE SOME RAW MATERIALS SCARCE AND REDUCED AVAILABILITY OF OUR SECTOR’S STANDARD PERSONAL PROTECTIVE EQUIPMENT

* CAMPINE HAS THEREFORE DECIDED TO ADVANCE ITS YEARLY MAINTENANCE SHUTDOWN OF ITS METALS RECYCLING DIVISION FROM JULY TO END OF MAY / EARLY JUNE

* ON METALS RECYCLING: HALF YEAR RESULTS WILL BE NEGATIVELY INFLUENCED BY LOW LEAD LME PRICE AND VOLUMES FOR MAY AND JUNE WILL BE SIGNIFICANTLY LOWER DUE TO SHIFT OF SHUTDOWN INTO H1

* ON METALS RECYCLING: RESTART OF FURNACE WILL DEPEND ON AVAILABILITY OF SCRAP BATTERY FEEDSTOCK

* ON SPECIALTY CHEMICALS: DEMAND IS NOW SHOWING A DOWNWARD TREND AND WE EXPECT A VOLUME REDUCTION OF ROUGHLY 30% FOR MAY AND JUNE

* ON SPECIALTY CHEMICALS: ALSO LOWERED ANTIMONY METAL PRICES WILL IMPACT HALF YEAR RESULTS OF THIS DIVISION.

* SOME OF PROJECTS INCURRED DELAYS DUE TO AVAILABILITY OF MATERIALS OR LABOUR

* IS CONTINUING ALL INVESTMENTS WHICH HAD ALREADY STARTED PRIOR TO THE CRISIS

* CAMPINE’S RESULT OF FIRST HALF YEAR WILL THUS BE SUBSTANTIALLY LOWER THAN IN FORMER YEARS

* SOLID BALANCE SHEET, WITH A HIGH SOLVABILITY RATIO AND A HEALTHY CASH POSITION, NO FINANCIAL ISSUES ARE EXPECTED DURING 2020

* WE WILL BE READY TO TAKE ADVANTAGE WHEN DEMAND WILL BE RESTORING IN SECOND HALF YEAR

* IMPOSSIBLE TO GIVE A FORECAST FOR COMPLETE YEAR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below