Tessenderlo Group reports first quarter 2012 results
(Thomson Reuters ONE) -
Operating segments present contrasting performances; Tessenderlo Kerley and
Gelatin strongly improve
· First quarter 2012 (1Q12) performance was overall in line with
expectations.
· Revenue grew 2.4% to 544.8 million EUR, with 4 of the 5 segments
recording gains.
· REBITDA of 44.1 million EUR was 20.3% below the record level achieved
last year.
· Key businesses Tessenderlo Kerley and Gelatin delivered solid progress,
with Akiolis lower as anticipated.
· Inorganics was materially lower due to challenging market conditions
while Other Businesses was also much lower against a very high comparison base.
· Tessenderlo Group has taken and will continue to implement actions to
secure its results while ensuring further strategic progress.
Balance sheet continues to be healthy
· Net financial debt was 254.9 million EUR at end March 2012, resulting in a
leverage of 1.4x and gearing of 29.7%.
· Notional net debt was 346.3 million EUR; on this basis, leverage was
1.9x and gearing 36.4%.
Further strategic investment to support long term growth ambitions
Tessenderlo Group further strengthened its position in supplying food and
agriculture markets by acquiring the global carbaryl business at the end of
January 2012.
Outlook
In spite of contrasting segment performances, first quarter results are overall
in line with management expectations.
The results confirm Tessenderlo Group's view of 2012 as a year of transition,
based on the elements disclosed with the full year 2011 results.
Despite challenges in some activities, demand for the majority of the group's
businesses is anticipated to remain resilient, in spite of the uncertain
European economic climate.
The group continues moving further along its strategic journey. It will keep on
optimizing its portfolio and grow its core businesses. At the same time, its
programs of operational improvements will progressively yield results.
Tessenderlo Group maintains a cautious view on this year of transition.
Tessenderlo Group is a worldwide specialty company, focused on food,
agriculture, water management and on valorizing bio-residuals. The group employs
about 7,500 people and is a leader in most of its markets, with a consolidated
revenue of 2.1 billion EUR in 2011. Tessenderlo Chemie NV is listed on NYSE
Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices.
Financial News wires: Bloomberg: TESB BB - Reuters: TesBt.BR - Datastream: B:Tes
Media Relations Investor Relations
Kathleen IWENS Philip LUDWIG
( +32 (0) 478 664 555 ( +32 2 639 16 58
Pour lire le communiqué de presse complet en Français, cliquez ici :
http://hugin.info/133974/R/1610521/511929.pdf
To read the full press release in English, click here:
http://hugin.info/133974/R/1610521/511926.pdf
Hier kan je het volledige bericht in het Nederlands lezen :
http://hugin.info/133974/R/1610521/511928.pdf
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Source: Tessenderlo Group via Thomson Reuters ONE
[HUG#1610521]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2012 - 07:03 Uhr
Sprache: Deutsch
News-ID 144816
Anzahl Zeichen: 4043
contact information:
Town:
Brussels
Kategorie:
Business News
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