Azelis at all-time lows as costs, weak demand weigh on Q1

Shares in chemicals company Azelis AZE.BR drop 12% to their lowest price ever after it missed Q1 expectations

Azelis reports Q1 revenue of 1.10 billion euros ($1.25 billion)

J.P.Morgan says Q1 organic revenue growth of 2.5% was below its estimates, weighed down by APAC region with weaker demand in China

Jefferies adds Q1 EBITA of 119.7 million euros was 9% below consensus, reflecting mix shift and cost increases

JPM sees the Q1 miss likely resulting in FY consensus cuts which in turn will put pressure on shares, notwithstanding their YTD decline of about 18%

Shares, sitting at the bottom of Belgian blue-chip index BEL 20 .BFX, are on track for their worst day since mid-May 2024

($1 = 0.8803 euros)