Slovenia's Cinkarna Celje net profit declines in Q1

The company's net sales revenue fell 5% on the year to 47.5 million euro in January-March and earnings before interest, tax, depreciation and amortisation (EBITDA) declined 41% to 4.7 million euro, Cinkarna Celje said in its quarterly financial report.

"Sales are down by 5%, chiefly due to lower average selling prices of titanium dioxide pigment. Pigment demand is improving at the expense of replenishment and congestion in the Red Sea," Cinkarna Celje said.

The total value of Cinkarna Celje's exports in the first quarter totalled 43.8 million euro, down 2% on the year, the company noted.

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

($ = 0.9205 euro)