30 April 2010
The Perstorp Group’s 2009 Annual Report is now available and introduces a fresh, new approach using a market segment perspective. This report demonstrates how Perstorp resourcefully used last year’s financial crisis to lay a strong foundation for 2010’s predicted upswing. Efficiency measures and a reinforced balance sheet fortified Perstorp’s future growth forecast.
The Annual Report showcases the company’s 2009 development in a modern, two-part chronicle of the year’s activities. The first section presents Perstorp’s business and strategy with a market segment focus while the second part delivers a comprehensive and detailed analysis of Perstorp’s financial performance and sustainability.
In summary, sales increased 3% during 2009 when compared to 2008, reaching SEK 12,542 m due to acquisitions. On a pro-forma basis, Group sales decreased 18% during 2009, of which 9% was related to a decline in volumes. Perstorp successfully implemented a cost-savings program and efficiency improvements during the year, which amongst others resulted in a 20% reduction of work force.
Perstorp’s recovery from the 2009 financial crisis began in the second quarter. At year-end, the operating profit before depreciation and amortization (EBITDA) reached SEK 986 m (1,670). Adjusted for non-recurring items, the profit was SEK 1,100 m (1,723).
“We used last year’s economic challenges to improve our efficiency while developing a solid new strategic direction for the company.