Süd-Chemie posts 8.4% rise in Q1 EBIT

05 May 2008 09:58  [Source: ICIS news]

SINGAPORE (ICIS news)--Süd-Chemie reported on Monday an 8.4% rise in first quarter earnings before interest and tax (EBIT) to €27m ($17.5m).

Its revenue for first quarter rose by 8.7% to €269.2m. The negative currency effects caused by the increased external value of the Euro reduced the total revenue by €10.8 million, the company added in the statement.

Süd-Chemie’s earnings before interest, taxes and depreciation (EBITA) for first quarter was €37.9 million, 7.4% higher than that of the same period last year.

Both the speciality chemicals, and the adsorbents and catalysts segments were responsible for the positive outcome of the company.

This was especially so due to a steep rise in demand for Süd-Chemie’s bleaching earth products, process catalysts and foundry chemicals in Europe.

The company expects profit growth in 2008 despite a slight deceleration in the growth dynamics of the world economy.

Süd-Chemie AG Managing Board Member and CFO Edgar Binnemann said in the statement that the group was on target to increase revenues to more than €1.3 billion by 2010, while permanently increasing profitability.

($1 = €0.65)

By: Brian Myung
65 6780 4359

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