Interim report for Q1 2020
Perstorp Holding AB (Publ.) parent company for world leading specialty chemicals company Perstorp today announces its interim report for Q1 2020.
Net sales amounted to SEK 2,720 m, a 15% decrease over the first quarter last year. This was mainly due to lower sales prices and lower volumes, and was to some degree offset by positive FX effects due to a weak Swedish krona.
Organic volume based sales growth for the period was -4% compared to the same period last year, due to notably lower deicer volumes. EBITDA excluding non-recurring items amounted to SEK 421 m (475) with an EBITDA margin of 15.5% (14.8). LTM EBITDA amounted to SEK 1,500 m compared to 1,554 m for the full year 2019 as cost reductions compensated somewhat for lower volumes.
“Profitable Growth continues to be our long term focus. Despite the Covid-19 situation, supply of raw material, production and delivery to our customers have during Q1/20 worked well. Due to the high degree of uncertainty, it is still too early to estimate the financial impacts on Perstorp from Covid-19. In order to be prepared for a slowdown of demand due to the Covid-19 outbreak, mitigation actions were swiftly installed during the quarter with strong focus on liquidity preservation which enabled to limit the impact on results to date,” comments Jan Secher, President & CEO.