Tessenderlo : 2H20 EBITDA 2% beat; expect 2021 consensus down 1-3%
>2H20 EBITDA 2% above consensus - Tessenderlo reported slightly better than expected 2H20 results, but a disappointing outlook. Revenue of € 802m were down 2% yoy and 2% below consensus (company-compiled). EBITDA of € 133m was up 8% yoy and 2% above consensus. This number contains a negative one-off of € 7.0m in Bio-valorization relating to inventory write-offs. Correcting for this, EBITDA was € 140m, up 14% yoy and 7% above consensus. Agro revenue were down 12% yoy a...Tessenderlo Group is engaged in providing solutions for food, agriculture, water management and use and re-use of natural resources. Co. has three operating segments: Agro, which is engaged in the production and marketing of crop nutrients (liquid crop fertilizers and Sulfate of Potash) and crop protection products; Bio-Valorization, which combines Co.'s activities in animal by-product processing, comprised of Akiolis (rendering, production and sales of proteins and fats) and PB Gelatins (production and sales of gelatins); and Industrial Solutions, with activities including the production and sales of plastic pipes systems and water treatment chemicals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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