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Campine NV (CAMB.BR)

Brussels - Brussels Delayed price. Currency in EUR
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40.80-0.20 (-0.49%)
At close: 11:30AM CEST
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Previous close41.00
Open40.80
Bid0.00 x 0
Ask0.00 x 0
Day's range40.80 - 40.80
52-week range19.40 - 41.80
Volume21
Avg. volume876
Market cap61.2M
Beta (5Y monthly)0.64
PE ratio (TTM)21.98
EPS (TTM)1.86
Earnings date24 Sept 2020
Forward dividend & yield0.65 (1.58%)
Ex-dividend date09 Jun 2021
1y target estN/A
  • Globe Newswire

    Results first half 2021

    Regulated information - 2 September 2021 – 18:30 Financial results During the first semester of 2021 Campine’s revenue amounted to 106,3 mio €, which is an increase of 29% compared to the first semester of 2020 and 3% higher than the first semester of the ‘pre‑Corona year’ 2019. The EBITDA reached 10,9 mio €, which is a record high result for the first semester. The increase in sales and profit is entirely related to the recovery of the economy following the breakthrough of the Corona pandemic a

  • Globe Newswire

    Invitation Ordinary General Meeting May 26th, 2021

    Naamloze Vennootschap Nijverheidsstraat 2, 2340 Beerse VAT BE0403.807.337 – RPR Turnhout INVITATION ORDINARY GENERAL MEETING Wednesday 26 May 2021 at 11h Important notification to the shareholders Due to the COVID-19 pandemic, the General Meeting will be organised via electronic communication. The shareholders can only participate via electronic communication (Zoom Video Call). Therefore the shareholders are requested to provide their email address when registering for participation.The shareholders are given the opportunity - in accordance with the modalities below - to ask questions in writing in advance as well as to give a proxy – preferably to the secretary of the General Meeting Ms Karin Leysen - in advance via the proxy form with voting instructions. Practical information regarding the electronic participation can be found on the website: www.campine.com/investors/shareholder information/general meetings. The shareholders are invited to participate in the Ordinary General Meeting, which will be held on Wednesday 26 May 2021 at 11h at Campine, Nijverheidsstraat 2, 2340 Beerse (solely via electronic communication - video call), with the following agenda and proposals: Reading and discussion about the report of the Board of Directors, the annual accounts and consolidated annual accounts of the financial year closed on 31 December 2020. Reading of and discussion about the Auditor’s Report on the above mentioned accounts. Approval of the annual accounts of the financial year closed on 31 December 2020 Resolution proposal: The Ordinary General Meeting approves the annual accounts of the financial year closed on 31 December 2020. Approval of the appropriation of the result of the financial year closed on 31 December 2020. Resolution proposal: The Ordinary General Meeting decides to appropriate the result of the financial year closed on 31 December 2020 as proposed by the Board of Directors. The Ordinary General Meeting decides to distribute a dividend of € 0.975 mio (this means € 0.65 gross per share) against presentation of coupon no 12, with payment date: 11 June 2021 (ex-date: 9 June 2021 and record date: 10 June 2021). Approval of the Remuneration Policy of the company.Resolution proposal: The Ordinary General Meeting approves the Remuneration Policy as mentioned in the annual report 2020. 6. Approval of the Remuneration Report of the financial year closed on 31 December 2020. Resolution proposal: The Ordinary General Meeting approves the Remuneration Report of the financial year closed on 31 December 2020. 7. Discharge to the Board members for the financial year closed on 31 December 2020. Resolution proposal: The Ordinary General Meeting grants discharge to the Board members for the execution of their mandate during the financial year closed on 31 December 2020. Discharge to the Auditor for the financial year closed on 31 December 2020. Resolution proposal: The Ordinary General Meeting grants discharge to the Auditor for the execution of his mandate during the financial year closed on 31 December 2020. Statutory nominations: 9a. Appointment of EY Bedrijfsrevisoren, represented by Harry Everaerts as statutory auditor of the company for a period of 3 years. Article 41 of the EU Regulation 537/2014 states that as of June 17, 2020, a public interest entity shall not grant or renew an audit engagement to a particular statutory auditor or audit firm, if, on the date of entry into force of this regulation, that statutory auditor or audit firm has provided statutory audit services to that public interest organization for a continuous period of twenty or more years. As a result, Deloitte Bedrijfsrevisoren, represented by Luc Van Coppenolle, must resign after the General Meeting in May 2021 that decides on the annual accounts for 2020, given that the indicated term expires at that time. The Board of Directors proposes to appoint EY Bedrijfsrevisoren, represented by Harry Everaerts, as Statutory Auditor for a period of 3 years.Resolution proposal: The Ordinaryl General Meeting relieves Deloitte Bedrijfsrevisoren, represented by Luc Van Coppenolle, from its mandate as statutory auditor from as of the financial year 2021, and grants Deloitte Bedrijfsrevisoren discharge from liability for the exercise of its mandate until May 26, 2021. The Ordinary General Meeting decides, on the proposal of the audit committee, to appoint EY Bedrijfsrevisoren BV, with registered office at De Kleetlaan 2, 1831 Diegem, and registered with the Crossroads Bank for Enterprises under number 0446.334.711 (RPR Brussels), represented by its permanent representative Harry Everaerts Bedrijfsrevisor BV, with registered office at Grote Heimelinkstraat 111, 9100 Sint-Niklaas, represented by its permanent representative, Mr. Harry Everaerts, as statutory auditor of the Company, with immediate effect. The mandate will end at the Ordinary General Meeting to be held in the year 2024. In accordance with article 3:77 of the Companies and Associations Code, the statutory auditor will also audit the consolidated annual accounts of the Company. The fee for the mandate as statutory auditor (both for auditing the statutory and consolidated annual accounts of the Company) amounts to EUR 47,500 per year (indexed annually, excluding VAT and other local taxes, expenses and expenses). 9b. Appointment of FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans, as independent Director for a period of 4 years. : The mandate of FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans as independent Director ends. Proposal to renew the mandate of FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans as independent Director for a period of 4 years. The Board has determined that YASS BV, represented by its permanent representative Ms Dina Brughmans, complies with all criteria required by the Companies and Associations Code and the Company Code and thus can be considered as an independent Director.Resolution proposal: The Ordinary General Meeting decides to appoint FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans, as independent Director for a period of 4 years. The mandate ends automatically, unless renewed, after the Annual Meeting held in 2025. The Directors’ remuneration amounts to € 20.500 for 2021. According to the Articles of Association the amount is automatically increased by € 250 on the first day of each new financial year. 9c. Appointment of Mr F.-W. Hempel as Director.: The mandate of Mr F.-W. Hempel ends. Proposal to renew the mandate of Mr F.-W. Hempel as Director for a period of 4 years.Resolution proposal: The Ordinary General Meeting approves the renewal of the mandate of Mr F.-W. Hempel, as Director for a period of 4 years. The mandate ends automatically, unless renewed, after the Annual Meeting held in 2025. The Directors’ remuneration amounts to € 20.500 for 2021. According to the Articles of Association the amount is automatically increased by € 250 on the first day of each new financial year. 10.Any other business Please note that you are required to comply with the following conditions and requirements: CONDITIONS OF ADMISSIONOnly the person who is an official shareholder on the Registration date (Wednesday 12 May 2021 at twenty four (24:00) hour) - either by means of a registration in the Company’s register of shares or by means of a registration on the accounts of the recognised account holders or clearing institution – are admitted to the Ordinary General Meeting, irrespective of the number of shares in his possession on the date of the Ordinary General Meeting. Furthermore, the shareholder confirms his participation to the Ordinary General Meeting ultimately on Thursday 20 May 2021 (16:00). The shareholders are requested to provide their email address when registering: The holder of registered shares: in writing to the company (see contact registered office);The holder of dematerialised shares: to Euroclear Belgium Belgium: due to Covid-19 preferably by email: ebe.issuer@euroclear.com. The recognised account holder, or the clearing institution issues the necessary certificate to the shareholder indicating the total number of dematerialised shares, respectively delivered or registered in his name in his account on the Registration date, with which the shareholder wants to participate in this General Meeting. ADD ITEMS TO THE AGENDAOne or more shareholders holding together at least 3% of the share capital may add items to the agenda of this General Meeting and submit resolution proposals relating to topics already included or to be included on the agenda. These requests must be addressed to the Company (see contact registered office) ultimately on Tuesday 4 May 2021. The shareholders who exercise this right must: prove that on the date of their request, they possess the required percentage of the share capital (by a certificate of registration of the registered shares in the Company's register of shares or by a certificate issued by a recognised account holder or clearing institute indicating that the respective number of dematerialised shares are registered in their name in an account.) and;prove that on the Registration date they are still shareholder holding together at least 3% of the share capital. When appropriate, the revised agenda and adjusted form to vote by proxy will be made public ultimately on 11 May 2021. Nevertheless, the proxies received by the Company prior to the publication of the revised agenda, remain valid for the items mentioned on the agenda. Exceptionally contradictory to the above mentioned, the proxy holder can - in compliance with article 7:130 of the Code on Companies and Associations - during this General Meeting, deviate from possible instructions of the proxy principal, for items mentioned on the agenda, for which new resolutions were submitted, if the execution of these instructions could damage the interest of the proxy principal. The proxy holder has to inform the proxy principal in this case. The proxy should mention whether the proxy holder is entitled to vote on new items put on the agenda or whether he has to abstain from them. RIGHT TO ASK QUESTIONS Pursuant to the Code on Companies and Associations and under certain conditions, the shareholders can submit questions in writing, prior this General Meeting, to the Board or the Auditor regarding their report or items mentioned on the agenda. These questions will be handled during this General Meeting if (i) the shareholder complies with the participation formalities and (ii) as far as the communication of information or facts does not prejudice Campine nv's business interests nor the confidentiality to which Campine nv, its Board of Directors or Auditor have committed themselves.These questions can be submitted in writing or per email beforehand to the Company (see contact registered office ultimately on Thursday 20 May 2021 (16:00h). VOTING BY PROXYEach shareholder who wants to be represented has to comply with the above mentioned registration and confirmation of participation procedures. Each shareholder who complies with the formalities for admission to this General Meeting provided for by the law and the Company's Articles of Association may designate one person – preferably Ms Karin Leysen, secretary of the General Meeting - to represent him at this General Meeting in accordance with the Code on Companies and Associations by means of the form to vote by proxy which can be found on the website www.campine.com/investors/shareholders information/general meetings and is available on request (see contact information registered office). Every appointment of a proxy holder has to be made in compliance with Belgian legislation, especially regarding conflict of interest and the register keeping. The notification of the appointment of a proxy holder must be received ultimately on Thursday 20 May 2021 (16:00h) in writing or by electronic means to the Company (see Contact registered office) or to Euroclear Belgium Belgium: due to Covid-19 preferably by email: ebe.issuer@euroclear.com. FORMALITIESAs of Friday 23 April 2021, the documents to be presented to this General Meeting are available on the website www.campine.com/investors/shareholder information/general meetings and financial publications) or can be consulted at the registered office and are also available – free of charge – on request via letter, fax, tel or email to the registered office attn. Karin Leysen. Contact registered officeCampine nv, Nijverheidsstraat 2, 2340 Beerse, www.campine.comAtt: Karin Leysen: karin.leysen@campine.com, tel: 014/60 15 49 Attachments decision to appoint FLG proxy invitation

  • Globe Newswire

    Campine year results 2020: 2020: Resilience in the 2nd year-half

    As most manufacturing companies, Campine did not escape the impact of the worldwide Corona pandemic in 2020. By focusing on essential activities, seizing some alternative sales opportunities and a good performance in the 2nd year-half, Campine was able to close the year with a moderate result. The pandemic had its main negative influence in the first semester. The demand in the Specialty Chemicals division started declining as from April onwards. In the 2nd quarter, we realised 25% less sales volumes compared to a normal year. This made us decide to close the department during the month of May. We were however successful to compensate the volume loss completely in the 2nd semester. The main financial impact in this division was the dramatic price reduction for antimony products. The price of antimony metal reached a low of 5,000 $/ton in the summer as a result of a worldwide collapse in demand. Towards yearend, we experienced an opposite evolution. Related to continued infection issues in mines, stocks of antimony ores, concentrates and metal started to get depleted resulting in a fierce price uptake (see further in perspectives 2021). The drop in demand in the Metals Recycling division already occurred in March. Campine’s lead alloys are mainly used for the manufacturing of car batteries, but as the automotive industry closed down many assembly lines, demand dropped by 50%. We were able to compensate a part of the lowered industrial volumes by selling to metal traders. However, during April the availability of scrap batteries became an issue as many partners in this supply chain also had to close their doors. We decided therefore mid-May to close our factory for 5 weeks, during which we performed an advanced yearly maintenance. By that time lead LME prices had declined to a low beneath € 1,500/ton. From June onwards, the scrap battery supply chain started to rebuild and the demand for lead slowly resumed to normal levels. Lead LME prices started to recover and the 2nd half of the year came off as relatively normal. The implementation of measures to prevent the Corona virus to spread had a severe impact on the way we used to work and collaborate. Campine combined (and continues to use) a wide variety of measures, such as working from home and the remote management of customer relations, whilst continuing manufacturing on its site in Beerse. Seen the use of hazardous materials and our Seveso status, our employees are used to wear protective gear, including dust masks and even full facemasks. The implementation of additional measures related to Corona was therefore only a small step to take. Only a very limited number of employees got infected with Covid-19. The contact tracing indicated however that none of the infections occurred during their professional activities on Campine’s premises. A proof that all preventive measures implemented by the company were very effective. Several investments were delayed or spread in time, mainly because subcontractors, just like foreign suppliers of equipment and machinery, experienced problems due to the pandemic. Strict operational cost control was implemented throughout all processes in all departments. A total of € 2.3 mio in expenses was saved, amongst others by provisional closing of some departments, using temporary unemployment for all employees, cutting marketing expenses, reduced travel and external meetings, etc. Financial results Revenue Campine realised a total revenue of € 166.9 mio in comparison with € 192.5 mio in 2019 (-13%). This lower revenue is mainly related to the reduced metal prices, which form the basis of Campine sales prices and the somewhat lower sales volumes in the Division Metals recycling. Results The EBITDA reached € 7.2 mio, which is 23% lower compared to the € 9.4 mio of 2019 (excluding the € 3.9 mio refund of the EC fine) and the EBIT ended at € 3.6 mio (37% lower than in 2019). The Net Result (EAT) for 2020 amounted to € 2.8 mio compared to € 4.1 mio (excluding the € 3.9 mio refund of the EC fine) in 2019 (-33%). Solvency Our financial ratios continued to remain very solid during 2020. With a solvency rate of 55% (equity/balance sheet total) we have the financial resources to continue financing our investment program. Dividend The board proposes to pay a dividend amounting to € 0.975 mio based on the 2020 results. The pay out of € 0.65 gross per share is planned for June 11th 2021. Results per Division Metals Recycling – sales € 113.1 mio (-12%) – EBITDA € 4.8 mio (-43%) This Division is composed of the Business Units Lead and Metals Recovery. We concluded the year with a sales volume of approx. 62,600 ton, a decrease with 3% compared to 2019. Revenue and operational result both strongly depend on the metal prices, mainly on the lead LME price. Our margins are under pressure when LME has a downward trend and margins recover during upward movements. Just like all other base and minor metals, the lead LME price decreased substantially during the onset of the Corona pandemic. In mid-January we still enjoyed a lead LME price level of around € 1,750/ton, but by May the price level was already down below € 1,500/ton. After this, the lead price started to recover to similar levels as at the start of the year (with exception of a dip during October). The average LME price in 2020 was about € 1,600/ton, which is about 10% lower than in 2019. Consequently, the revenue decreased by 12% to € 113.1 mio whereas the EBITDA lowered to € 4.8 mio (-43%) and the EBIT reached € 2.6 mio (-57%). Specialty Chemicals – sales € 64.6 mio (-16%) – EBITDA € 2.3 mio (+ 168%) This division is composed of the Business Units Antimony and Plastics. Despite the Corona pandemic, the sales volume of 13,350 tons in the Specialty Chemicals division remained almost equal with the 13,600 ton of the previous year 2019. Revenue is linked to the evolution of antimony metal prices. The average Antimony Metal Bulletin price of $ 5,912/ton in 2020 was considerably lower than the average price in 2019, amounting to $ 6,722/ton. This is a decrease of 12%. Additionally the Dollar-Euro exchange rate of 1.142 $/€ was also lower than in 2019 (1.119 $/€). Consequently our revenue amounted only to € 64.6 mio (‑16% vs 2019). Notwithstanding the drastic price reduction of antimony products, the results improved considerably: the EBITDA reached € 2.3 mio, up from € 0.9 mio one year earlier. The EBIT increased to € 1.1 mio compared to a loss of € –0.2 mio in 2019. Reasons for this progress are partially related to structural operational improvements, optimizations in purchasing and the evolution of our sales portfolio towards more value added products. Perspectives for 2021 Predicting what influence the Corona pandemic will continue to have on the business in 2021 is quite difficult. Especially the impact on metal prices, which are crucial for Campine’s financial performance. The price for antimony metal has been slowly increasing since the fall of last year. The fear for shortages on the supply side (antimony ore and concentrates) at the start of this year, induced an explosion of the price, which increased with 50% in less than 2 months’ time. Availability of antimony metal and derivatives like antimony trioxide remain scarce. For lead, the LME price remained relatively stable in 2021 so far. Demand for products from our Specialty Chemicals division is quite high in the first quarter of 2021. The general recovery of the economy leads to a replenishment of stocks, which is even further supported by the increasing prices and potential shortages. We expect this situation to persist until the summer. In our Metals Recycling Division demand is normal for the time of the year. The availability of scrap batteries is good, supported by the lockdown measures, which grounded many vehicles throughout the winter, causing batteries to fail. We predict a normal continuation of the year at this point. In the first week of January, Campine was granted a government subsidy of 1 mio euro for the investment in a novel process for the recycling of antimony. This innovative technology has meanwhile been started on an industrial scale and the investment (totalling € 4.9 mio) will already contribute to Campine’s result in 2021. Some other large investments will be carried out during 2021, but these are mostly replacement investments. Amongst others, Campine will renew its power supply facilities and build a new lead casting line, in which the refined lead is poured into ingots. We expect some higher efficiencies and a small capacity increase in our refinery. The construction of the PP plastics recycling plant has been shifted into 2022. EBITDA: Earnings before interests, taxes, depreciation and amortisationEBIT: Earnings before interests and taxes also referred to as Operating resultEAT: Earnings after tax also referred to as Result for the year Our auditor, Deloitte Bedrijfsrevisoren, represented by Luc Van Coppenolle, has confirmed that the audit procedures of the consolidated financial statements are substantially completed and that these procedures have not revealed any material modification that would have to be made to the accounting information, derived from the consolidated financial statements and included in this communiqué. The annual financial report will be made available for the public on April 23rd 2021 on the website of Campine. For further information you can contact Karin Leysen: tel. +32 14 60 15 49 / email: Karin.Leysen@campine.com Attachment 2021-03-23 year