Cognis saw successful 2007 in a challenging economic environment
Dated: 6 May 2008
In 2007, global specialty chemicals supplier Cognis increased its net external sales by 4.3% in 2007 to 3,518 million euros ($5,470.21 million). Organic sales growth (excluding foreign currency effects and the effects of acquisitions and divestments) stood at 6.5%.
All three of the company’s core business areas – Cognis Care Chemicals, Nutrition & Health, and Functional Products – reported substantial increases in sales and contributed to this growth.
The company’s operating result (Adjusted EBITDA) rose by 4.0% to 410 million euros due to the partial offsetting of the increases in raw material costs and successful cost management in all areas of the company.
Return on sales (Adjusted EBITDA as a percentage of sales) remained unchanged at 11.7%. Cognis’ earnings before interest and taxes (EBIT) increased by 19 million euros or 9.2% to 225 million euros.
Says Cognis CEO Antonio Trius: “In 2008, we will focus even more on our three core business areas and continue to optimize our operations and processes to equip ourselves for the market challenges that lie ahead.”
In Germany, sales increased by 8.9% to 1,126 million euros, while the Rest of Europe saw a slight fall of 1.1% to 890 million euros.
In North America sales decreased by 4.0% to 766 million euros, due to the weakness of the dollar.
The most significant growth was achieved in Central and South America (189 million euros, up 16.1%) and Asia-Pacific (547 million euros, up 14.6%).
