Sipef 1H25 strong results make the group on track for a new record year
Sipef reported strong results, with the recurring net profit (gs) of $ 57.7m comfortably exceeding expectations (kbcse: $45.9m). While revenue growth of +23.3% to $ 250.4m (kbcse: $ 250.4m) was in line driven by a slightly higher than expected production growth of 19.1% to 208.0kt (kbcse: 204.1kt), we were particularly surprised by the strong gross profit growth of 65.6% to $ 113.3m (kbcse: $ 94.1m). As a result, the group now expects the recurring net result (gs) to be significantly higher than last year, while being on track to deliver a new record year. This despite keeping its production t...