2017 saw Perstorp reaching an extraordinary milestone with the delivery of an excellent volume-based sales growth of 10 percent and sales amounting to SEK 13,592 million. EBITDA excluding non-recurring items increased by 20 percent to record high SEK 2,133 million. A successful refinancing of the balance sheet in the third quarter last year, amounting to EUR 230 million, also gave the company lower interest rates on the floating rate notes.
The demand was solid and harmonious across all three main regions; America, Europe and Asia, despite some geopolitical uncertainty. Perstorp’s continued focus on proactive pricing also enabled margin improvement.
Perstorp is a world leader in specialty chemistry and for over 135 years, this expertise has been used to pioneer the development of highly innovative products that advance everyday life across the globe. In 2017, the company saw the launch of a number of exciting developments, further establishing its role as a market leader in specialty chemicals:
• Voxtar™, Evyron™ and Neeture™, the world’s first portfolio of polyols based on renewable raw materials according to a mass balance system
• New methods of formulating Pevalen™, a non-phthalate plasticizer
• ProPhorce™ Valerins, a new organic acid to improve animal gut health without the need for antibiotics
• Developments for Synthetic lubricants for measuring exact fire and pour points
• New generation filaments in partnership with 3D4Makers
Perstorp has also made significant strides in its sustainability ambitions. In November in Shanghai, the company announced its ambition to become Finite Material Neutral, by e g switching to renewable resources and reusing finite resource in continuous loops. As a chemical company, Perstorp consumes significant amounts of electricity in production processes and with this in mind, the company committed in 2017 to only use renewable electricity across all their domestic production plants.
“Perstorp’s growth and exceptional EBITDA results were a major milestone for the company”, said Jan Secher, President and CEO, Perstorp. “The result is particularly encouraging as all areas of the business contributed to this incredible success. We continue to make significant progress based not only on our innovation and sustainability efforts, but also through customer centricity, strong leadership values and a company culture whereby all employees can reach their full potential.”
Perstorp has also envisioned its future as a digitally transformed company for the benefit of its customers, with a strategy developed for how the digital transformation can enable smarter working, leveraging existing systems and processes more efficiently.
In 2017, Perstorp fulfilled EBITDA ambitions which represented a major milestone and the pathway towards new long-term financial objectives has been set: Continuous Profitable Growth is our headline moving forward, we have set ambitious and challenging goals for ourselves including outgrowing the market and reaching a new sustainable earnings level.
You find the full 2017 Annual Report here >>