Spain's LSB more than doubles full-year EBITDA

29 February 2008 13:47  [Source: ICIS news]

MUMBAI (ICIS news)--La Seda de Barcelona (LSB) posted 2007 earnings before interest, tax, depreciation and amortisation (EBITDA) of €124m ($188m), more than double the €53m recorded in 2006 on solid organic growth in sales, the company said on Friday.

“Our recent acquisitions have paid off and we have now reached a record high in both turnover and profits,” said company chairman Rafael Espanol.

For the full year, the company's revenue doubled to €1.32bn and its net profit was €12.4m, more than four times above the 2006 profit of €3m, the Spanish polyethylene terephthalate (PET) producer said.

“In spite of rising oil prices, our company’s current size, wider international presence and deeper vertical integration strengthen our position before raw material suppliers, thereby protecting our margins,” he said.

($1 = €0.66)

By: Isha Jha
+65 6780 4359

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