Cognor confident about third-quarter results

“Despite planned repair stoppages at two steel facilities, Cognor is not expecting this to be very visible in its results,” Krzysztof Zoła, CFO of Cognor S.A., told ISBNews. 

Krzysztof Zoła recalled that in the third quarter of last year Cognor felt impact from a technical stoppage at one steelworks. “This year, we have repair stoppages planned for two steelworks but this should not have a material impact on results and sales because during this time our mills will operate normally and in addition higher prices are supportive for us; we can also reduce our inventories, which we built up for the purpose of the planned stoppages,” explained Cognor S.A.’s CFO in an interview with ISBNews. “As regards this year’s third quarter, we expect the prices of both finished products and raw material to continue rising, which should be positive for the company’s financial results,” added Zoła.