10 August 2010 10:16 [Source: ICIS news]
LONDON (ICIS)--Sud-Chemie announced a profit of €14.0m for the first six months of 2010, level with the same period last year, as the company continued to benefit from a recovery in the global chemical markets, the German specialty chemicals company said on Tuesday.
The company's consolidated revenue for the first half of the year rose by 5.7% to €576.3m, as the group experienced higher plant utilisation in almost all areas of its activities driven by greater demand volumes.
"After a very strong final month in 2009 and a slow start to 2010, we subsequently swung back onto our sustainable growth path as the year progressed," said Gunter von Au, managing board chairman of Sud-Chemie.
"Compared with the first half of 2009, both revenue and earnings have improved during the first six months of 2010, increasing our operating profitability," he added.
The group’s earnings before interest, taxes and depreciation (EBITDA) rose by 4.2% to €74.3.
Sud-Chemie said earnings were offset slightly by its increasing expenditure on the group's two most research-intensive and investment-intensive start-up operations in battery materials and bio-catalysis.
Sud-Chemie’s business units for adsorbents and additives, water treatment and also energy and environment, witnessed double-digit percentage revenue growth, while earnings rose at an even faster rate, it said.
Looking ahead, the company expected revenue for the full year of 2010 to rise by around 5% to €1.13bn and operating profit by 10%.
"In view of the encouraging business and order performance over the past four months we are confident of increasing our growth rate, even further in the course of this year," von Au said.
($1 = €0.76)
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