Core Viewpoint - Campine NV is addressing allegations regarding the resale of its products to Russia, emphasizing its commitment to compliance with sanctions and export control laws [1][2] Group 1: Company Actions - Campine NV has halted all sales to Russia since the onset of the Russia-Ukraine conflict in March 2022 [1] - The company is taking the allegations seriously and is collaborating with external legal counsel to evaluate the situation [2] - Campine is considering enhancing its compliance measures in response to the allegations [2] Group 2: Legal and Compliance - The company is assessing the appropriateness of further compliance measures and determining the next steps to address the allegations [2] - Contact information for inquiries is provided, indicating transparency in communication regarding the issue [2]

Core Insights - Campine NV, a metals recycling and specialty chemicals company, is effectively navigating the impacts of trade wars, particularly in relation to U.S. tariffs on European products [1][2]. Company Developments - Campine's antimony trioxide (ATO) has been officially exempted from new U.S. import tariffs, allowing the company to maintain its service to U.S. customers without pricing disadvantages [2]. - The company has increased its ATO production capacity by 50% at its Belgian facility, raising its annual output potential to approximately 18,000 tons [3]. - Campine has become the world's largest supplier of antimony trioxide following Chinese government restrictions on antimony exports in September 2024 [5]. Market Conditions - The availability of antimony metal has improved due to expanded capacities from non-Chinese suppliers, stabilizing prices around $60,000 per ton [4]. - Despite a global shortage of ATO, some customers are attempting to reduce or substitute their ATO usage with alternative products [4].

Core Viewpoint - Campine NV anticipates significantly higher profits for 2025 due to increased demand for its antimony products, driven by export restrictions in China since late 2024 [1][2]. Group 1: Demand and Sales Performance - The company has experienced a 35% average increase in global sales volumes of antimony trioxide, with overseas sales more than doubling due to reduced demand in Europe [2]. - Campine has secured orders from new customers worldwide, indicating a strong market response to its products [2]. Group 2: Financial Forecast - For the first half of 2025, Campine forecasts sales revenue of approximately €380 million and an EBITDA of at least €50 million, a significant increase from €169 million in sales and €19.7 million in EBITDA for the same period in 2024 [3]. - Antimony metal prices have reached a record level of $60,000 per ton, contributing to expectations of higher sales revenue and profits [2]. Group 3: Market Volatility and Future Outlook - The company notes that it is too early to predict full-year performance due to current market volatility and typically lower demand during summer months [4]. - Recent stabilization of antimony prices may reduce the positive impact of increased business volumes and stock value augmentations in the second half of the year [4].