IBU-tec Adjusts 2024 Forecast Amidst Chemical Sector Challenges

IBU-tec advanced materials AG has revised its 2024 forecast due to ongoing weak economic conditions in the chemical sector, significantly affecting its subsidiary BNT Chemicals. The company now anticipates a Group EBITDA between EUR 0.7 and 1.0 million, a stark decrease from last year's EUR 3.0 million. This revision also affects BNT Chemicals, expected to post an EBITDA of approximately EUR -2.0 million, about EUR 3.0 million below projection.

In response, IBU-tec has initiated strategic restructuring at BNT Chemicals, focusing on product portfolio and cost management. Despite these setbacks, the company's battery materials division experiences growth, supported by recent contracts with a global automotive company. IBU-tec remains optimistic for a turnaround in 2025, with positive earnings contributions expected from BNT Chemicals due to the restructuring initiatives.

Overall, while BNT Chemicals faces challenges, IBU-tec's battery materials sector continues to grow, indicating a mixed yet hopeful outlook.