5N Plus revenue down 12% in Q1 on 'production challenges', low metal prices

Canadian minor metals and speciality chemicals producer 5N Plus has reported revenue in the first quarter of 2019 of US$51.4 million, down by 12% compared with $58.5 million for the corresponding period in 2018.

The reduced revenue came after three consecutive years of growth in earnings, and in large part reflected the effects of production challenges and to a lesser extent the consequences of reduced prices for some of its metal products, the company said in a conference call on Wednesday May 1. The production challenges related to large-scale production of materials such as semiconductors. Demand for these has increased and 5Nplus is going through a production ramp-up too meet this, and to accommodate new technological requirements for various industries, included aerospace. The prices of bismuth, indium and gallium entered 2019 at multi-year lows due to oversupply, trade concerns and slow downstream demand. The market price...

Published

Cristina Belda

May 03, 2019

16:28 GMT

London