Tessenderlo arrived with their Q1 report which is not a proper report but more of a trading notification. Either way it is out there and the share price took a serious nose dive of I think around -7%. Is there a reason to be concerned?
For the report in full please click here and to see my previous summary then please visit Tessenderlo annual report 2015 and to find out more concerning Tessenderlo then please go to analysis of Tessenderlo 2016.
In the statement below we can indeed see that that everything presented is flat in comparison to 2015 and apparently the expectations were much higher. They also mentioned that the Agro part was weaker which is not so good news because that has been a true puller of the locomotive. We also see that the debt have significantly increased compared to 2015. In their outlook they still kept their claims from before of REBITDA growth of 15 to 20% for the full year.
Conclusion: I can kind of understand the concern and right now the market seems to be very jumpy so slightest negative deviation from what were expected and we see an over dramatic response in share price. I personally have no fears and in Luc Tack I place my trust. I will remain as a confident shareholder in Tessenderlo.
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