Earnings Release • Jul 25, 2013
Earnings Release
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Suresnes, 25 July 2013: the Recylex Group (NYSE Euronext Paris: FR0000120388 - RX) today reported sales for the six months to June 30, 2013 totalling € 209.4 million, down 10% on the first half of 2012.
The breakdown of consolidated sales by business segment for the first half of 2013 was as follows:
| (In millions of euros) | First half 2013 |
First half 2012 |
Change (%) |
|---|---|---|---|
| Lead | 150.7 | 174.8 | -14% |
| Zinc | 39.1 | 40.4 | -3% |
| Special Metals | 11.3 | 10.5 | +7% |
| Plastics | 8.3 | 6.7 | +25% |
| Total | 209.4 | 232.4 | -10% |
"During the first six months of 2013, the Recylex Group's sales were 10% lower than in the same period of 2012, mainly due to scheduled maintenance shutdowns in Germany of the lead smelter in Nordenham and of the zinc dust treatment kiln in Oker. In addition, market conditions in the first half of 2013 were particularly difficult in the Lead business, especially on the supply side. Although initial signs of recovery in Special Metals require confirmation, the Plastics business maintained its strong sales momentum."
Since January 1, 2013, lead and zinc prices have fallen. Despite this, the average lead price was slightly higher in the first half of 2013 than in the first half of 2012, while the average zinc price was slightly lower. Average prices for the half-year period were as follows:
| First half | First half | % | |
|---|---|---|---|
| (€ per tonne) | 2013 | 2012 | change |
| Lead | 1,657 | 1,568 | +6% |
| Zinc | 1,474 | 1,524 | -3% |
Consolidated sales in the first six months of 2013 totalled € 209.4 million, down 10% on the year-earlier period.
In the first half of 2013, the Lead segment generated 72% of consolidated sales. Sales dropped by 14% at € 150.7 million, mainly due to lower sales volumes following the scheduled threeweek maintenance shutdown of the main smelter in Nordenham in March 2013, whereas there were no major shutdowns in 2012. First-half 2013 sales were also affected by declining prices of silver and sulphuric acid, which are by-products of the smelting process.
Sales in the Zinc segment accounted for 19% of the consolidated total in the first six months of 2013. They were 3% lower than in the year-earlier period, as were zinc prices, and amounted to € 39.1 million.
Performance varied between business areas. The scrap zinc recycling business saw a slight increase in sales. Conversely, sales fell in Waelz oxide production, mainly due to the major sixweek scheduled maintenance shutdown at the Harz-Metall GmbH subsidiary in Germany during the second quarter of 2013.
Special Metals sales accounted for 5% of consolidated sales in the first half of 2013. They were 7% higher than in the first half of 2012 and reached € 11.3 million. This increase was mainly the result of an upturn in germanium sales in the second quarter of 2013.
Plastics sales represented 4% of the consolidated total in the first six months of 2013. They showed strong year-on-year growth of 25% and reached € 8.3 million. In the second quarter of 2013, the Group saw a sharp rise in sales volumes in France, along with a slight increase in the average selling price.
Recycle, Transform, Enhance
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With operations in France, Germany and Belgium, Recylex is a European group specializing in lead and plastics recycling (mainly from automotive and industrial batteries), zinc recycling (from electric arc furnace dust and scrap zinc) and the production of special metals, primarily for the electronics industry.
The Recylex Group has close to 675 employees and generated consolidated sales of €471 million in 2012.
More information on the Recylex Group on: www.recylex.fr
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Press/Investor contact:
Gabriel ZEITLIN + 33 (0)1 58 47 29 89 [email protected]
Disclaimer: This press release contains regulated quarterly financial information for the Recylex Group as defined in Article L. 451-1-2-IV of the French Monetary and Financial Code and Article 221-1 of the AMF General Regulation. This press release may contain forward-looking statements that do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets. These statements are by their nature subject to risks and uncertainties as described in the Company's annual report available on its website (www.recylex.fr).). Further information about Recylex is available from its website (www.recylex.fr)).
| (€ per tonne) | First quarter 2013 |
Second quarter 2013 |
First quarter 2012 |
Second quarter 2012 |
|---|---|---|---|---|
| Lead | 1,741 | 1,572 | 1,597 | 1,536 |
| Zinc | 1,539 | 1,408 | 1,544 | 1,502 |
| (In millions of euros) |
First quarter 2013 |
Second quarter 2013 |
First quarter 2012 |
Second quarter 2012 |
|---|---|---|---|---|
| Lead | 69.4 | 81.3 | 90.1 | 84.7 |
| Zinc | 21.4 | 17.8 | 21.6 | 18.8 |
| Special Metals | 5.0 | 6.2 | 5.0 | 5.5 |
| Plastics | 4.0 | 4.2 | 3.3 | 3,4 |
| Total | 99.8 | 109.6 | 120.0 | 112.4 |
| (In millions of euros) | First half 2013 | First half 2012 | Change (%) |
|---|---|---|---|
| Lead segment | 42.5 | 39.7 | +7% |
| Services to Group companies | 0.7 | 0.6 | +17% |
| Total sales | 43.2 | 40.3 | +7% |
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