Perstorp Holding AB (Publ.) parent company for world leading specialty chemicals company Perstorp today announces its Year end report 2019.
Net sales amounted to SEK 2,463 m, a 16% decrease over the fourth quarter last year. This was mainly due to lower sales volumes, lower raw material prices and price pressure, that was to some degree offset by positive FX effects.
Organic volume based sales growth for the period was -7% compared to the same period last year. EBITDA excluding non-recurring items amounted to SEK 275 (376) m with an EBITDA margin of 11.2% (12.8%). The fourth quarter also marked a clear negative trend in LTM EBITDA of SEK 1,554 m compared to 1,814 m for the full year 2018.
“The current weakness is mainly cyclical and we maintain our long term strategic direction. We have great confidence in our growth potential and in November we were breaking ground in India for a new Penta plant, in order to secure presence and future growth in Asia. This represents one of the larger investments in the company’s history. An Operational Excellence program is running at four of our production sites with the purpose of secure availability of product, delivering efficiency increases and build further capabilities,” comments Jan Secher, President & CEO.