In 2013, the Campine Group realised a turnover of EUR 137.46 million, compared with EUR 149.93 million in 2012 (-8 %).
The pre-tax loss of the first semester was EUR -0.08 million. The second half year resulted in a loss before taxes of EUR -1.45 million - giving a pre-tax loss for the year of EUR -1.53 million. This compared with a pre-tax loss of EUR -3.35 million in 2012.
The operating loss amounted to EUR -1.70 million (2012: EUR -1.51 million). 2013 was characterised by low demand in business unit antimony. The plastics unit realised a reasonable growth. In business unit lead demand slightly increased but margins were under continued pressure.
Net financial result amounted to a profit of EUR 0.17 million compared with a loss of EUR -1.84 million in 2012.
The lead hedging resulted in a net profit of EUR 1.04 million (compared with a net loss of EUR -0.88 million in 2012). The objective of hedging is to limit the fluctuations of Campine's results due to the impact of changes in lead prices on the value of purchases and sales and of inventories. These amounts include the fair value of the LME lead hedge at December 31, which is included in the income statement in accordance with the specific IFRS standards.
Due to the loss of the year, no current tax provision was set up. A deferred tax asset was set up for EUR 0.37 million, including other timing differences the tax credit was EUR 0.39 million.
Loss after taxes was EUR -1.14 million, compared with a EUR -2.47 million loss in 2012. The results were effected by low demand in antimony, lower lead scrap margins and continuing reduced economic activity.
The Board of Directors proposes that the company will not pay a dividend. In 2013 no dividend was paid.
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