Süd-Chemie records successful year in 2003
25-May-2004
Süd-Chemie AG, Munich, was able to report a successful close to the 2003 financial year, in spite of a negative economic environment. Positive results accompanied today´s publication of its Annual Report.
The Group´s consolidated sales rose to EUR763 million (+1.0% compared with 2002), and earnings before interest and taxes (EBIT) by 10.9% to EUR44.6 million (2002: EUR40.2 million). It was possible to improve net income by 44.2% or EUR4.6 million to EUR15 million. Due to reductions in the cost of goods sold, gross profit rose by EUR12.7 million compared with 2002, to reach EUR279.2 million.
Speaking to the press, Managing Board Chairman Dr. Jürgen F. Kammer stressed that, "In view of the desolate economic situation, we are happy to have brought 2003 to a successful close. Whereas the majority of chemical companies in Europe recorded declining sales and unsatisfactory earnings, Süd-Chemie remained on course, demonstrating its stability." The programme aimed at restructuring and increasing efficiency throughout the Group, which has been consistently and resolutely implemented since 2001, has been justified by the second good year in succession, continued Dr. Kammer. In view of the slight improvement in the economic climate, demand is expected to revive on the relevant markets in the course of this year, accompanied by a marginal improvement in the sales and earning situation in 2004.
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