Tessenderlo Q1 profit falls 80% on delayed US planting season

16 May 2013 16:19  [Source: ICIS news]

LONDON (ICIS)--Tessenderlo’s 2013 first-quarter profit fell 80% year on year to €1.1m ($1.4m), mainly because of weather conditions that delayed the US spring planting season, the Belgium-based chemicals firm said on Thursday.

The delay in the US planting season affected results at Tessenderlo’s US-based specialty fertilizer business, Tessenderlo Kerley, the company said.

Tessendero’s overall revenues for the three months ended 31 March were down 11% year on year to €486.5m. First-quarter gross profit was €98.5m, down from €109.6m in the 2012 first quarter.

In its outlook, the company said that the US planting season was underway, “and April 2013 activity has been very strong and well above April 2012, providing an indication that 2013 should be another solid year for Tessenderlo Kerley.”

($1 = €0.78)

By: Stefan Baumgarten
+1 713 525 2653

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