The green chemist suffers from soaring gas prices. Not having hedging mechanisms against the inflation of the raw material, Metabolic Explorer would have been forced, according to the Courrier Picard, to put the employees of its factory in Amiens on partial unemployment for an indefinite period.
Metabolic Explorer forced to lay off its Amiens plant | Photo credits: Linkedin
Soaring energy prices are hurting Metabolic Explorer (Metex). According to an article from Mail Picardthe green chemist’s Metex Noovistago factory located in the north of France, in Amiens, was reportedly forced into partial unemployment last Friday until further notice.
In question, the surge in gas prices, ” for which it has no hedging mechanism “, underlines the firm Portzamparc and which forces the Clermont society to “ reduce consumption “, adds the Nantes office.
Unwelcome news
The news was coldly received by the Stock Exchange, the title losing, at its lowest of the day, more than 8% and falling below the 2 euro mark. Metex had a difficult start to the year. Sales in the first half suffered from the war in Ukraine, energy inflation but also from the avian flu and the swine crisis, which affected the volumes of amino acids invoiced by the chemist.
So many pitfalls that had pushed the group to announce a profit warning before the publication of the results at the end of last June. However, Metex remains confident for the second half of the year: the increase in the number of animals in poultry farms should benefit the animal nutrition market and the normalization of cereal prices, compared to those of soybeans, should encourage the use amino acids in animal feed. The Portzamparc firm is less optimistic: “ Reduced short-term visibility prompts us to be cautious on this issue “. The research office is to be “retained”.
NH