Forbo 2005 EBITDA down 5.6% on higher costs

21 March 2006 17:43  [Source: ICIS news]

LONDON (ICIS news)--Swiss floor coverings firm Forbo reported on Tuesday a 5.6% drop to SF135.1m ($104.5m/Euro85.9m) in 2005 earnings before interest, tax, depreciation and amortisation (EBITDA), blaming higher raw material and market entry costs.

Group sales, however, were SF1.70bn, up 4.9% compared with 2004.

Forbo said profits from its floor coverings business rose 11.8% to SF86.2m. Flooring sales increased for the first time in five years and were 1.3% higher at SF747.0m. Linoleum sales in North America and Eastern Europe were higher as were commercial vinyl floor covering sales generally.

Sharply higher raw material costs hit adhesives EBITDA which sank by 21.6% to SF42.0m. Adhesives sales were 8.8% higher at SF628.5m.

The belting business saw EBITDA fall 19.2% to SF16.8m on sales up 6.4% at SF326.5m.

Forbo said group EBIT before special charges were 15.7% higher at SF64.7m due to lower depreciation and amortisation than in 2004. The consolidated net loss including special charges last year was SF16.5m against SF157.4m in 2004.

By: Nigel Davis
+44 20 8652 3214

< previous article(ICIS Chemical Business podcast November 2, 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly