Kumiai outlook on Pyro
In a much awaited results of this season Kumiai has disclosed results. It has not yet provided outlook on Axeev, however Kumiai guides for meagre 2.7% YoY growth in its Agricultural Chemicals sales for 2024 (registered 15.2% YoY growth in 2023 after guiding for 21% growth initially). Though it anticipates increase in Axeev (Pyroxasulfone) sales, it has guided for inventory adjustments of Axeev in some of sales countries. Further, it guides for price adjustments in Axeev as a countermeasure against generic products.
More importantly, it has guided for 15% decline in operating profits for 2024. Operating profits rose 11% in 2023 (earlier guidance stood at 35% growth).
Disclaimer: not invested.
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