SPCM 3Q17 - Harvey and Irma weigh on results
SPCM, the world’s largest producer of polyacrilamide (PAM), held a conference call to discuss its 3Q17 results, which were marked by a significant decline in EBITDA.
Revenue was up by 13% to €610m on the back of higher volume (+19.5% yoy). Demand remained strong in all segments with notably a continued strong improvement in the oil and gas markets (especially fracking in North America). However, gross profit declined by 2.3%. Hurricanes Harvey and Irma caused supply tightness leading to a surge in feedstock prices.
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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