euro adhoc: Financial Figures/Balance Sheet / Successful business year in 2006: Süd-Chemie annual sales top the billion Euro mark while operating profit reports even faster growth
Geschrieben am 30-03-2007 |
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Financial Statements
30.03.2007
-14% rise in sales to EUR1.003 billion -Operating profit (EBIT) increased by 24% to more than EUR83 million -Further rise in sales and earnings forecast for 2007
Süd-Chemie AG, Munich, has published the key figures from its consolidated financial statements for the successful year 2006, which were adopted at today's meeting of the Supervisory Board. Thanks to positive economic activity in the chemical sector worldwide, further expansion of its leading market positions and ongoing measures to improve efficiency, Süd-Chemie sales increased at a significantly faster rate than market growth, while profits reported an even stronger rise, exceeding the published sales and earnings targets.
Adjusted for the Pet Products Business Unit sold in June 2006, consolidated sales rose by EUR124.9 million, or 14.2% in 2006 compared with the previous year to reach EUR1,002.7 million. Operating profit (EBIT) increased by 23.9% to EUR83.4 million. As a result, the EBIT margin improved by 0.6 percentage points to 8.3%. Compared with 2005, after-tax profits rose by EUR2.4 million to EUR55.5 million. Account should however also be taken of the fact that the profit for 2005 included proceeds of EUR26.2 million from the sale of the Rheological and Copisil operations, whereas the 2006 profit includes only EUR8.9 million as proceeds from the sale of the pet products business.
Following last year's marked dividend rise and with respect to rising investments in its markets with high future potential during 2007 and 2008, the Supervisory Board and the Managing Board will again be proposing a dividend of EUR1.00 per share at the Annual General Meeting to be held on 1 June 2007. In view of the company's 150th anniversary this year, the Supervisory Board and Managing Board will also be proposing an additional special dividend of EUR0.10 at the Annual General Meeting on 1 June 2007.
For the first time, the IFRS standard IAS 32.15 (disclosure of minority shares in equity entitled to a put option as borrowed capital) was applied to Süd-Chemie's consolidated financial statements for 2006, and the consolidated financial statements for 2005 were adjusted accordingly. An unqualified opinion has been received from the independent auditors for the 2006 financial statements. In the case of the 2005 consolidated financial statements, a qualified audit opinion was issued owing to the intentional non-application of this standard, as accounted for in detail. As a result of retroactively applying this standard, profit for the year 2005 had to be adjusted from EUR58.6 to EUR53.1 million and the equity ratio stated at 31 December 2005 from 38.0% to 35.2%. The equity ratio stated at 31 December 2006 rose to 37.3%.
In view of the confidence in Süd-Chemie's major markets, its excellent market positions and the good start in 2007, the Managing Board is again expecting a positive performance for the full year. Organic sales growth of 5% is forecast, while operating profit (EBIT) is again expected to report an even steeper rise of at least 10%.
The complete consolidated financial statements for 2006, an overview of business performance during the first quarter of 2007 and the outlook for the full year, as well as the Group's strategic policy are to be presented at the annual press conference to be held at 10.00 a.m. on 23 April 2007 in Munich, Lenbachplatz 6. The Annual Report for 2006 will be available on the same day at www.sud-chemie.com, from 12.00 noon onwards.
Munich, 30 March 2007
Statements relating to future events
This report contains statements relating to future events based on current estimates made by the management with respect to prospective developments. Such statements are subject to uncertainties and risks which Süd-Chemie is neither able to control nor accurately assess, including for instance future market conditions and the economic environment, the behaviour of other market participants or governmental measures. Should any one of these or other uncertain or imponderable factors take effect, or should assumptions on which the statements are based prove to be incorrect, the actual results may differ significantly from those explicitly defined or implicitly contained in these statements. Süd-Chemie neither intends nor undertakes a specific obligation to update statements relating to future events in order to adjust these in line with events or developments occurring after the date of this report.
About Süd-Chemie
Süd-Chemie AG (www.sud-chemie.com) is a publicly quoted (Security Identification Number (WKN): 729 200), independent specialty chemical company headquartered in Munich, Germany and operating on a worldwide scale. Key markets served by its Adsorbents Division include the consumer-goods, packaging and foundry industries, as well as the paper and plastics industries. Products manufactured by the Catalysts Division offer solutions for water treatment, petro-chemicals processing, energy storage and hydrogen production, as well as off-gas purification. The common denominator of all its products and innovations is the efficient and sparing use of natural resources to enhance the quality of life for humans and the environment. Süd-Chemie generated sales of just under EUR1 billion in 2006, approx. 80% of these outside Germany. At the end of 2006, the group employed approximately 4,800 people at its 70 sales and production sites worldwide. Süd-Chemie is celebrating its 150th anniversary in 2007.
end of announcement euro adhoc 30.03.2007 11:59:56 --------------------------------------------------------------------------------
ots Originaltext: Süd-Chemie AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: Patrick Salchow Tel.: +49 (0)89 5110 250 E-Mail: patrick.salchow@sud-chemie.com
Branche: Chemicals ISIN: DE0007292005 WKN: 729200 Index: CDAX Börsen: Börse Berlin-Bremen / regulated dealing Hamburger Wertpapierbörse / free trade Frankfurter Wertpapierbörse / free trade Bayerische Börse / official dealing/general standard
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