The Recylex Group has today reported its financial information for the first quarter of 2016. Consolidated sales for the three-month period to March 31, 2016 totaled €92.5 million, down 13% on the first three months of 2015.
Yves Roche, Chairman and Chief Executive Officer of the Recylex Group, commented:
“The negotiations concerning the financing search for the German perimeter have well progressed during these last days but have not yet reached a sufficiently advanced stage for Recylex SA to issue its 2015 financial statements. These negotiations remain the Group’s top priority with a view to completing them by the end of the first half of 2016. From a business perspective, the adverse trend in metals prices compared with the first quarter of 2015 was the main factor behind the decline in our first-quarter 2016 sales. With the mild weather conditions during the winter, scrap batteries availability on the market was very low. As a result, we continued to pursue our selective purchasing policy to protect our margins and our cash. In the second quarter of 2016, we should benefit from the current rise in metals prices and from a favorable comparison base as a result of scheduled maintenance shutdowns in the Lead and Zinc segments in Germany operated during the second quarter of 2015.”