Germany's SKW Metallurgie Q3 net profit down 44.4%; sales down 12.6%

15 November 2012 06:34  [Source: ICIS news]

SINGAPORE (ICIS)--SKW Metallurgie’s net profit fell by 44.4% year on year to €1.3m ($1.7m) in the third quarter as revenues slipped by 12.6%, the German specialty chemicals maker said on Thursday.

Its consolidated revenues totalled €95.4m in July-September this year, while earnings before interest, tax, depreciation and amortisation (EBITDA) nudged 3.27% higher at €6.3m, the company said in a statement.

For the nine months ending September this year, the company’s net profit fell by 44.4% to €5m, while sales slipped by 2.86% to €315.4m.

Its EBITDA was down by 23.3% year on year at €19.8m.

“In view of the charges resulting from our new plants during the first half of the year, and the slowdown in the global economy, we can be very happy with the first three quarters of 2012,” said SKW Metallurgie’s CEO Ines Kolmsee

“We continue to believe that in 2013 we will reach significantly improved EBITDA based on the contributions from the new plants," Kolmsee added.

($1 = €0.78)


By: Nurluqman Suratman



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