Managing Director Voutilainen: “Resulting from political strikes, we had been unable to hold out export deliveries of the battery chemical manufacturing facility’s merchandise, and due to this fact shares elevated.”
CEO of Terrafame, Seppo Voutilainen. The corporate’s mining space is positioned close to a hazard referred to as Talvivaara. The mine primarily produces nickel and zinc utilizing the bioleaching technique. Inventory photograph from final Might. Joel Maisalmi
Terrafame’s April-June turnover elevated from 91.4 million euros in the identical interval final 12 months to 116.0 million euros, the corporate says in its interim report printed on Friday. The expansion price was 21.2.
The turnover of the battery chemical compounds enterprise fell to 29.4 (32.1) million euros. In line with the corporate, turnover was decreased by decrease manufacturing and supply volumes and the drop available in the market worth of nickel sulfate.
The turnover of the semi-finished steel enterprise was EUR 86.6 (59.3) million. In line with the corporate, manufacturing volumes remained at a excessive stage.
The EBITDA for spring and early summer season was 2.4 million euros in freezing temperatures. In the identical interval final 12 months, the loss was 17.4 million euros.
The working revenue for April–June was EUR 20.3 million unfavorable, whereas a 12 months in the past it was EUR 32.9 million minus.
– The improved price effectivity and the excessive manufacturing and supply volumes of the semi-finished steel enterprise had a optimistic impact on the end result. As well as, worth hedges softened the impact of the drop in gross sales costs on internet gross sales and revenue. Decrease steel market costs and a lower within the manufacturing and supply volumes of the battery chemical manufacturing facility weakened the end result, the interim report states.
The working revenue for the complete first half of the 12 months was EUR 3.3 million plus.
Extra hurt from political strikes
Terrafame needed to cease the manufacturing of the battery chemical manufacturing facility in April.
– As a result of political strikes in Finland, we had been unable to hold out export deliveries of the battery chemical manufacturing facility’s merchandise, and thus the shares elevated. Within the second quarter, we additionally carried out the deliberate upkeep shutdown of the battery chemical manufacturing facility. The operation of the battery chemical manufacturing facility began once more in June, and we’ll proceed to unload the elevated shares within the third quarter, CEO Seppo Voutilainen says within the interim report.
In line with Voutilainen, the market costs of nickel and nickel sulfate had been on common nonetheless at a clearly decrease stage than a 12 months in the past. In line with Terrafame, the typical market worth of nickel in April-June was USD 18,415 (22,308) per ton, which is about 17 % decrease than on the similar time in 2023.
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