- 30.03.2007, 12:38:52
- /
- OTE0008
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 (E)
--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
--------------------------------------------------------------------------------
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.
Further inquiry note:
Patrick Salchow
Tel.: +49 (0)89 5110 250
E-Mail: patrick.salchow@sud-chemie.com
end of announcement euro adhoc 30.03.2007 11:59:56
--------------------------------------------------------------------------------
emitter: Süd-Chemie AG
Lenbachplatz 6
D-80333 München
phone: +49 (0)89 5110-0
FAX: +49 (0)89 5110-375
mail: info@sud-chemie.com
WWW: http://www.sud-chemie.com
ISIN: DE0007292005
indexes: CDAX
stockmarkets: regulated dealing: Börse Berlin-Bremen, free trade: Hamburger
Wertpapierbörse, Frankfurter Wertpapierbörse, official
dealing/general standard: Bayerische Börse
sector: Chemicals
language: English
OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | OTB






