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Home  > Homepage news  > Cognis increases sales in first half of 2008

Sunday, 22 September 2019
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Cognis increases sales in first half of 2008

Friday, 29 August 2008

Functional Products saw it sales rise by 3.3% to EUR 480 million which means an organic sales growth of 11.2%

In the first six months of 2008, global specialty chemicals supplier Cognis increased the net sales of its core businesses by 7% to EUR 1.533 billion compared with the same period in 2007. On an organic basis, sales grew by 12%. All three strategic business units that focus on the innovation-driven wellness and sustainability markets - Care Chemicals, Nutrition & Health and Functional Products - contributed to the sales growth. The operating result of the core businesses (Adjusted EBITDA) was at EUR 176 million (down 5.1%) due to a massive rise in raw material, transportation, and energy costs as well as unfavourable exchange rates. On an organic basis, the operating result was down 2.4%. Functional Products saw it sales rise by 3.3% to EUR 480 million (organic sales growth of 11.2%). However, sales growth in North America was mitigated by weaker housing and automotive markets as well as negative influences of the US dollar.

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