Helm full-year EBITDA up 74%, sees more growth

23 May 2008 13:35  [Source: ICIS news]

LONDON (ICIS news)--Helm hit a new high in 2007 with almost all operations contributing to a 74% increases in earnings before interest, tax, depreciation and amortisation (EBITDA) to €118m ($184m), the Germany-based chemicals distributor said on Friday.

Net profit was €66m compared with €33m in 2006, while sales for the year were 33% higher at €7.75bn. 

The company said it would continue to expand in 2008 with new sales offices in Oslo, Norway and Glasgow in the UK. Its current distribution network of subsidiaries and holdings covers 32 countries.

It will distribute new volumes of methanol, dimethylformamide and LAB (linear alkyl benzene) from Oman, Saudi Arabia and Egypt in 2008.

It said it will market new volumes of acetic acid, vinyl acetate monomer, urea ammonium nitrate and melamine from Saudi Arabia and Trinidad & Tobago from the second half of 2009.

A planed investment of €265m will help secure its market position, the company said in a statement.

Despite projections of a slowdown in chemicals growth in German by the trade group, VCI, Helm said it expected first-half 2008 sales to grow 14% to reach €4.3bn. 

"The group’s profit for the year should even rise slightly more, since the increases in the fertilizer and crop protection business units have partly been quite spectacular,” the company added.

($1 = €0.64)

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By: Nigel Davis
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