Growth characterized 2008 with large acquisitions and strong demand of our products during the first three quarters of the year. Towards the end of 2008, the global slowdown caused a downturn.
Perstorp saw strong demand and rising prices for most of its products during the first three quarters of 2008. Due to the global slowdown there was a downturn towards the end of the year. Net sales climed by 42% to reach SEK 12,227 m, notably driven by the acquistions of a leading caprolactones business in U.K. and parts of the specialty chemicals business within Rhodia Organics and Lyondell Chimie. Operating profit before depreciation and amortization, EBITDA, strengthened and amounted to SEK 1,670 m.