Update from Duroc
The irregular order intake in the plastics-related companies that were noted during Q3 has continued during Q4. Like our industry colleagues, we are experiencing a continuing volatile market marked by severely restrained stocking and price instability.
The accumulated unaudited result for April-May is overall limitedly negative, with good profitability in the industrial trade-related companies operating in the Nordics and continued weak development in the plastics-related units in Europe and the USA.
Underlying causes are above all declining demand for consumer products in the US but also continued uncertainty about market development in the US and Europe. Overall, the assessment is that the group’s operating profit for Q4 will be weakly positive.
Durocs continued strong financial position gives strength to wait for expected better conditions for the plastic-related companies and also to consider structural measures aimed at delivering value for the shareholders.
Stockholm, June 21st, 2023
The information in this press release is such that Duroc AB is obliged to publish in accordance with EU’s Market Abuse Regulation. The information herein was provided for publication at kl.18.30 (CET), June 21, 2023 by the contact person named above.