|Net profits up at Hempel|
|Friday, 25 March 2011 13:25|
Driven by significant organic growth in Asia and the Americas, Hempel’s revenue grew by eight percent in 2010.
The Hempel Group delivered an operating profit of €92 million (US$129 million) in 2010, and despite dramatic increases in the price of raw materials throughout the year, this was on a par with last year’s result. Net profit, however, was significantly higher than last year’s, establishing a new record for the group.
The group’s top-line performance gained momentum, particularly in the last quarter of 2010, with every business segment in the Hempel Group achieving a positive result. The group has also started 2011 with solid growth, enabling it to go ahead with plans for new acquisitions and for expanding operations in Russia, Argentina, Saudi Arabia and India with new production facilities.
“The group returned a double-digit operating margin in 2010,” says Pierre-Yves Jullien, Group President and CEO of Hempel. “This proves that, even in a challenging business environment, we can control our costs, anticipate changes in the market and react relatively fast.”
In the protective segment, Hempel’s business in the USA and China grew significantly, while European operations were strengthened by a new factory in Poland and a positive result in Russia.
In Hempel’s marine segment, marine maintenance returned top-line growth of almost seven percent. The group’s operations in decorative coatings lived up to expectations, with significant top-line growth in China and the Middle East. And, after almost disappearing in 2009, Hempel’s container business returned, making a positive impact on the group’s overall result.
For further information contact:Hempel Web: www.hempel.com
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