IBU-tec - One door closes, another door opens
Fallout from the Dieselgate scandal included a reduction in demand for the chemicals used in automotive catalytic converters. This adversely affected IBU-tec’s FY17 revenues (down 5%) and pre-tax profits (down 55%). Conversely, the environmental agenda is driving demand for electric vehicles, battery energy storage systems for use with renewables and catalytic devices for cleaning up factory exhaust gases. Management expects demand for specialist materials used in these applications to support a recovery in sales and EBITDA during FY18.
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