Malmo, Sweden — Perstorp’s specialties and solutions division, which includes specialty polyols and the firm’s Capa business, saw fourth-quarter sales in 2016 reach SEK 675 m ($75.6 m) up 28% on the same period in 2015, according to interim numbers released by the firm.
Perstorp has good 2016 financial year
Jan Secher sees "solid development' in 2016
Although sales prices were 3% lower than the corresponding 2015 quarter, which was primarily due to the mix of products sold, foreign exchange had a positive impact of 6% on total sales growth, the firm said.
Perstorp said the specialties and solutions division also benefited, as a product line was transferred into it during the first quarter of 2016 from the company's advanced chemicals and derivatives business area. Adjusting for this, the organic volume-based sales growth in the fourth quarter of 2016 was 21%, Perstorp said.
Ebitda in the fourth quarter was SEK 117 m compared to SEK 85 m in the fourth quarter of 2015 and the margin increased by just over 1% to 17.4%. This was due to strong sales volumes and positive foreign currency effects.
The specialties and solutions business accounts for approximately 22% of Perstorp’s sales.
Taking the year as a whole, sales in the sector were SEK 2,600 m compared to SEK 2,400 m in 2015, an increase of 9.7%. And over the year ebitda at SEK 672m was up SEK 148m on the 2015 numbers.
Jan Secher, president and ceo said the "business area specialties and solutions has continued to deliver a solid development with year-on-year organic sales increases."
Overall in 2016, the company had sales of SEK 11.3 bn up slightly from the SEK 11.1 bn in 2015. Ebitda margin increased from 14.8% to 15.9% taking earnings at this level to SEK 1.8 bn.
