Akzo Nobel announces 6% top-line growth from present operations
21 Jul '05
7 min read
Intervet – results jump on growth and efficiency improvements Revenues: up 9 percent to EUR 277 mln (2004: EUR 255 mln) EBIT: increased 50 percent to EUR 60 mln (2004: EUR 40 mln) Revenues – 8 percent autonomous growth in virtually all regions and franchises EBIT margin of 21.7 percent Benefiting from efficiency improvements More focus – feed additives divestment announced
Intervet (animal healthcare products) revenues were up 9 percent to EUR 277 mln. Compared to the second quarter of 2004, autonomous growth was 8 percent, while currency translation had a positive effect of 1 percent. Intervet further expanded its strong market positions. Intervet's operating income jumped 50 percent to EUR 60 mln, attributable to the autonomous revenues growth and efficiency improvements throughout the unit. The EBIT margin improved from 15.7 percent to 21.7 percent.
Frohn commented: “Intervet is Akzo Nobel's quiet success story. The efficiency improvements they made in manufacturing are now paying off, resulting in Intervet's strongest quarter in three years. They are growing in virtually all regions and franchises, and are expanding in profitable areas such as biologicals. The earlier announced divestment of feed additives further increases our focus.”
Coatings – continued pressure from raw materials and slower growth in mature markets Revenues: up 7 percent to EUR 1,502 mln (2004: EUR 1,403 mln) EBIT: decreased 6percent to EUR 140 mln (2004: EUR 149 mln)
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