Cognis Increases Net Sales in Strong First Quarter
Nutrition & Health recorded sales of 86 million euros, a 1.3 percent rise compared to the very strong first quarter of 2006. On an organic basis, sales decreased slightly by 1 million euros or 0.6 percent.
31/05/07 In the first three months of 2007, global specialty chemicals company Cognis increased its net sales by 1.7 percent to 890 million euros. On organic terms, excluding foreign currency effects and effects of acquisitions of Cosmetic Rheologies (March 2006) and Napro Pharma (May 2006), sales grew by 4.6 percent or 41 million euros compared to the first three months in 2006. Almost all strategic business units contributed to this growth.
The operating result (Adjusted EBITDA) remained with 111 million euros at the high level of 2006 (minus 1.3 percent), return on sales (Adjusted EBITDA as a percentage of sales) was at 12.4 percent. Earnings before Interest and Taxes (EBIT) grew by 8 percent to 64 million euros.
“We had a satisfactory performance in the first quarter both in sales and profit,” says Cognis CEO Dr. Antonio Trius. “Higher margin products and higher volumes at our strategic business units Care Chemicals and Functional Products, and a successful cost management were important drivers for our solid growth. On the other hand, increased raw material prices and unfavorable hard currency issues had an impact on our earnings.”
Nutrition & Health recorded sales of 86 million euros, a 1.3 percent rise compared to the very strong first quarter of 2006. On an organic basis, sales decreased slightly by 1 million euros or 0.6 percent. Strong growth was achieved with products for the pharmaceutical and healthcare industries, and moderate growth in the carotenoids (antioxidants) business. In contrast, there were slightly lower sales in the functional foods business compared to the first quarter of 2006, where the food industry was especially active with new product launches in this field.
