Slovenia's Cinkarna Celje 9-mo net profit slumps

The company's net sales revenue fell to 140.8 million euro in January-September from 194.6 million euro and earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 69.5% to 17.9 million euro, Cinkarna Celje said in its interim financial report.

"The decrease is due to lower sales volumes and lower average selling prices of titanium dioxide pigment. The slowdown in demand from customers in all sales segments due to inflationary pressures on the industry and the final consumer materialised further during the period considered," Cinkarna Celje said.

The total value of Cinkarna Celje's exports in the first nine months of 2023 totalled 124.0 million euro, down 28% on the year, the company noted.

Cinkarna Celje was established in 1873. Its core business is production and marketing of titanium dioxide pigment.

($ = 0.91434 euro)