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Cognis Posts Improved Numbers For 2004
Cognis has reported significant growth in both sales and operating results for 2004. In the twelve months from Jan. 1 to Dec. 31, 2004, the global specialty chemicals supplier posted total net external sales of 3,073 million euros (+4.2 percent). Cognis' 2004 Adjusted EBITDA went up by 16.0 percent to 362 million euros, with a margin of 11.8 percent, up from 10.6 percent the year before. "The 2004 financial year was a successful one for us," says Antonio Trius, CEO of Cognis. "Despite the continuing weakness of the U.S. dollar and increasing raw material, energy, and transport prices, we achieved a significant turnaround in our business. This is a result of a volume pick-up in our markets but also confirms the validity of our strategy focusing on wellness and sustainability trends. The comprehensive packaging of restructuring measures initiated through 2003 and 2004 has also contributed substantially to the cost savings."