Campine Announces Consolidated Earnings Results for the First Half Year Ended June 30, 2016; Provides Earnings Guidance for the Second Half of 2016 and Full Year 2016
August 25, 2016
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Campine announced consolidated earnings results for the first half year ended June 30, 2016. For the period, the company achieved revenue of EUR 85,864,000 compared with EUR 86,250,000 a year ago. Operating result was EUR 1,988,000 compared to EUR 3,845,000 a year ago. Result before tax was EUR 2,083,000 compared to EUR 3,125,000 a year ago. Result attributable to equity holders of the parent was EUR 1,352,000 or EUR 0.90 per basic and diluted share compared to EUR 2,199,000 or EUR 1.47 per basic and diluted share a year ago. Net cash from operating activities was EUR 6,092,000 compared to EUR 3,243,000 a year ago. Purchases of property, plant and equipment were EUR 1,126,000 compared to EUR 685,000 a year ago.
In the first six months, customer demand was in line with budget and the company expects this trend to continue in the second semester. Both in antimony and lead the metal price trend is upwards, which normally has a positive effect on the margins. The combination of these two factors should generate a positive result in the second semester.
The company expects to achieve a better result in 2016 compared with 2015.
Campine nv is a chemical group primarily organized around 2 families of products:
- lead (65% of net sales): primarily lead alloys and lead antimony made from lead residues taken from used batteries, cable leads, etc.;
- specialty chemicals (35%): antimony oxides and antimony trioxide granules for ignition of combustible materials (plastics, rubber, etc.) and for catalyzing polyethylene terephthalate (PET), and fire-retardant plastics intended for the automotive, electronic, and packaging industries, etc.
Net sales are distributed geographically as follows: Belgium (2.8%), Germany (36%), Switzerland (10.4%), France (5.8%), Italy (5.7%), Romania (3.4%), the Netherlands (3.2%), the United Kingdom (1%), Europe (8.7%), North America (14%), Asia (8.5%) and other (0.5%).
Campine Announces Consolidated Earnings Results for the First Half Year Ended June 30, 2016; Provides Earnings Guidance for the Second Half of 2016 and Full Year 2016