People & Business :: Earnings/Finance
Tessenderlo reports larger second-quarter loss, issues profit warning
7:45 AM MDT | August 30, 2013 | Natasha Alperowicz
Tessenderlo Group on Thursday issued a profit warning, blaming competition at its Akiolis food waste processing operation in France and farmers not investing in fertilizers. Tessenderlo says recurring Ebitda (Rebitda) would be about 20% below last year's result. The company reports a loss of €36.2 million ($47.9 million) in the second quarter, which compares with a loss of €15.3 million in the year-earlier period. Rebitda was down 12%, at €49 million. Sales rose 7.5%, to €542.4 million, on a portfolio comparable basis. Tessenderlo says...
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