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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Campine NV | EU:CAMB | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 0.68% | 74.00 | 74.00 | 73.00 | 74.00 | 74.00 | 74.00 | 223 | 02:00:57 |
Regulated information - 24 September 2020 – 07:50
Headlines - Financial results
During the first semester of 2020 Campine achieved a revenue of 82,7 mio € (2019: 102,9 mio €). Profit after taxes amounted to 103 K€ (2019: 2,33 mio €). The reduction in sales and profit is entirely related to the impact of the Corona pandemic. Volumes as well as metal prices were on average substantially lower compared to the same period in 2019.
Strict cost control and some ambitious initiatives helped Campine to navigate quite well through this crisis. “The company saved 1,5 mio € in expenses in the first semester and seized several opportunities to limit the volume loss.” explains CEO De Vos “We also managed to advance our yearly maintenance shutdown and carry it out with more own personnel. With strict cash management and a better spread of our investments, we managed to retain our strong 2019 year-end balance sheet” he concludes. With a solvency ratio of 54%, Campine does not expect financing problems in the near future.
To minimise the Covid-19 contagion risks for its employees, Campine implemented a large number of measures. Campine used several government measures, such as temporary unemployment, to counterbalance the lower market demands. The different manufacturing units were alternately closed to keep the efficiency as high as possible. Several expenses were avoided or delayed whenever possible. All planned investments will be carried out, but some will be rescheduled in time. Some investment projects were delayed because some subcontractors were unable to continue their work seen the Covid pandemic.
Performances per division
Division Specialty Chemicals
Market and Operations
Division Metals Recycling
Market and Operations
Outlook 2020
Making a prognosis for the full year 2020 remains very difficult considering the volatile and uncertain market conditions. If however raw material prices retain their rise, we expect to close the year with profit.
Demand for our Specialty Chemicals products is restoring very slowly. We expect to reach pre-Covid levels only by the last quarter of 2020. Antimony metal prices are on the rise since early August, mainly related to some shortages on the antimony ore markets.
In our Metals Recycling division we reached normal demand levels since July. This is potentially related to temporary shutdowns at some of our regional competitors. LME lead prices increased substantially during the summer months from a level below 1.500 €/ton mid-May to above 1.650 €/ton and fluctuates around a level of 1.600 €/t in the meantime.
The full interim financial report is available on our website www.campine.com: Investors/shareholder information/financial reports and calendar/Financial reports/interim financial report 2020.
This information is also available in Dutch. Only the Dutch version is the official version. The English version is a translation of the original Dutch version.
For further information you can contact Karin Leysen (tel. no +32 14 60 15 49) (email: Karin.Leysen@campine.com).
Attachments
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