According to Executive Director Mr Miroslav Krejci, Chemopetrol will be shut down for six weeks (September 6 – October 25). Closure will be used for regular maintenance and increase of production. Estimated costs are CZK 500m (EUR 17.7m). Mr Krejci said the closure will impact financial results.
Our view: We see the news as neutral, as it is a planned shutdown, which was indicated earlier by Unipetrol. We also see the mentioned negative financial impact is already priced-in.