The chemical company Tessenderlo arrived with their half year report last week and in between the desperation and fear regarding China and investors still not being able to keep the fingers away from the cookie jar so the share prices are jumping all over the place. This said... on the day of the release the share price dropped significantly.
For the report in full please click here and to see my previous summary then please visit Tessenderlo report Q1 2015 and to find out more concerning Tessenderlo then please go to analysis of Tessenderlo 2015.
As can be seen in the income statement below the revenue increased substantially (+9.6%) due to a continued excellent performance by the Agro and Industrial solutions segments while the Bio-valorization is doing very poorly revenue wise but even earnings wise since they burn more money than what they bring in. The cost of sales were also dramatically higher with 8.4% which gives in the end a little gain in the size of 41.5 million € or 0.98 € per share for the running half year.
Conclusion: I found the report to be fully acceptable. Of course I want Tessenderlo to perform even better and especially to get also the Bio-valorization back on their feet but I guess we need to wait a bit longer for that to happen. I will of course remain as a shareholder.
3 comments:
I hope everyone sitting with shares in Picanol understands the importance of Tessenderlo and how it develops over the years.
Based on recent open market share purchases, it appears that one Mr. Luc Tack understands the importance quite well.
Hahaha, yes I have no doubt that he understands it. Does he keep buying shares with Symphony Mills?
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