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Lonza reports net income...

Lonza reports net income increase of 51.6%

26 Jan 2005
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A review of strategic options has been finalized and the Board is confident about the future.

26/01/05 Specialty chemicals company Lonza has reported a net income increased of 51.6% on the prior year to CHF 138 million, with the 2003 figure having been affected by CHF 107 million in special after-tax items. Lonza reported a decrease of operating income for 2004 of CHF 215 million (down 28.8% against the previous year), which was in line with expectations. The company stated that “the Board of Directors has finalized its review of the strategic options available for Lonza and is confident about the Group`s future”.
The company wrote that after completion of the efficiency improvement and cost reduction program started in 2003, Lonza successfully rebased its business to reflect current market conditions in 2004. While the custom manufacturing activities continued to face a challenging business environment, the other operations had to contend with high raw material and energy prices.
The Lonza statement ruled out a restructuring of operations, something that had been widely expected in the market. Instead, the company said it would concentrate on its life sciences market, where it already earns 60 per cent of its income. “Fundamental restructuring is not required,” Lonza stated, although it added that it aimed to build up business in the healthcare, nutrition, personal care, hygiene and agricultural markets.
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