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.