H&R WASAG: Sales and profits reached record level

15-Aug-2006

In the second quarter, the H&R WASAG Group continued the development of the previous months. This was reflected in a reacceleration of growth compared with the first quarter. ''Current conditions are allowing us the first time to realize almost the entire profit potential of the Group,'' where the comments of Dr. Horst Hollstein, CEO, on the development of the business.

In the second quarter, sales grew to EUR203.3 million (Q2 2005: EUR157.4 million). This corresponds to growth of 29% compared with the same quarter of the previous year or 3% compared with the preceding, first quarter of 2006. EBITDA operating profits rose in the second quarter to EUR28.8 million (Q2 2005: EUR9.6 million) and were, as a consequence, 30% above the result of the first quarter. Compared with the second quarter of the previous year, the operating result tripled.

On a cumulative basis, sales in the first half year reached EUR401.6 million (H1 2005: EUR293.8 million). At EUR50.9 million, the operating result more than doubled compared with the level of the same period of the previous year (H1 2005: EUR19.4 million). During the course of the last six months, pre-tax earnings rose to EUR37.7 million (H1 2005: EUR8.0 million) and, as a consequence, more than quadrupled compared with the comparable period of the previous year.

In the second quarter, H&R WASAG also benefited from rising demand in all three divisional areas of the Group. Above all, both specialty refineries in the Chemical-Pharmaceutical Raw Materials Division are currently operating at full capacity utilization and registered a marked increase in sales. However, both the Explosives and Plastics divisions have also generated rising turnover.

https://www.chemeurope.com/en/news/57104/h-r-wasag-sales-and-profits-reached-record-level.html