Solid performance in H1 2022
Top-line growth in H1 2022 was solid on a volumes (+12% y-o-y) and price (+15% y-o-y) basis. Earnings were a little ahead of our forecasts, however, cash generation was below our forecasts.
US operations expected to restart at ~70% of pre-flood capacity in September
Management has moved quickly to minimise the impact from a major business interruption in the US, following flooding.
Impact of high power prices visible in results, and likely to persist for longer
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