Rhodia reports increase in profits sales

Rhodia reports increase in profits and sales

11:47 AM, 7th June 2011
Rhodia reports increase in profits and sales

  • Breakthrough step-up in profitability in 2010
  • Growth strategy well underway

 

PARIS, FRANCE: Rhodia plans far-reaching transformation toward profitable growth ambition to generate over 1 billion euros annual pre-CER EBITDA by 2013-2015.

FY 2010 financial highlights:

  • Excellent profitability with recurring EBITDA at € 905 million
  • Volumes up by 14 per cent compared to 2009, reflecting strong business dynamics
  • Record net profit of € 259 million
  • Solid free cash flow (2) generation of € 240 million

 

The company has redesigned management model to drive growth and acquired Feixiang Chemicals in China. In all it has reinforced business positions in the most dynamic markets. “In 2010, Rhodia achieved a breakthrough step-up in profitability. We defined growth as the strategic priority and implemented a new decentralized management model as its driving force. The group has already attained significant milestones with the acquisition of Feixiang Chemicals together with substantial investments in fast-growing regions,” said Jean-Pierre Clamadieu, Chairman & CEO, Rhodia.

 

“Heading into 2011, global economic conditions and business momentum remain favorable. Rhodia will benefit from its high quality portfolio and strengthened positions in the most dynamic markets. In this context, we expect to improve our 2011 EBITDA by 5 to 10 per cent, well in line with our 2013-2015 ambition,” he added.

 

The outlook for the year suggests that the global economic growth should remain strong in 2011, driven by fast-growing countries. Rhodia’s portfolio is well-suited to benefit from global market megatrends.

(C) WOC News 

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