Group sales increased 16.9% to 3.5 billion euros
· Core business sales increased 2.6% year-on-year
Earnings before interest tax depreciation increased by 50.2% to 862 million euros
Net profit rose 89.6% to 491 million euros
Free cash flow rose 1.9% to € 658 million
Announced 1 billion euros online platform sales plan
Start a stock repurchase program with a maximum of € 1.5 billion
Material maker Keith's first six months of positive momentum created the strongest quarter of the company's history in the third quarter of 2017. Net income rose 89.6% to € 491 million from the third quarter of last year. (EBITDA) and sales increased by 50.2% and 16.9% year-over-year, while core business sales increased by 2.6%. Sales rose mainly due to the increase in sales price and contributed 18.4% (FOCF) rose 1.9% to € 658 million from the same period last year. According to these strong results, Kesi decided to re-evaluate the total amount of FOCFs announced by the end of 2021 to 50 by the end of 2021. The FOCF has increased its sales volume by 50% Billion euros, and the company reaffirmed its Group's financial guidance for the entire year of 2017.
This quarter's outstanding performance is due to the strong demand and continued profitability of the major customer segments of the company - particularly the profitability of the polyurethane business segment.
'The current growth momentum is very strong, whether it is sales revenue, profit margins or cash flow, we are creating a new record. Huge cash flow growth so that we are expected to return to shareholders earlier than expected a lot of cash, while maintaining reinforcement "We decided to implement a stock repurchase program with a maximum of 1.5 billion euros or 10% of the issued share capital," said Patrick Thomas, chief executive officer of Coase.
"We are actively pursuing a strategic upgrade to capture the opportunities for cross-time under the current growth momentum," explains Dr. Markus Steilemann, a board member who is responsible for marketing, sales and innovation. "Digitalization is our business strategy An integral part of our goal is to provide customers with a more simple and effective way to buy our standard products.Currently, we are developing a new online platform, is expected to be the earliest in 2019 to obtain 1 billion euros online Sales.
In this context, the company has identified the three dimensions of digital, that is, digital business processes, digital customer experience and the new digital business model.
Polyurethane and polycarbonate business are lucrative
In the third quarter, the core business sales of the polyurethane business segment rose 4.3% from the same period last year, thanks mainly to the strong performance of the TDI (toluene diisocyanate) product group, which has a high profit margin due to its favorable supply and demand, An increase of more than double the same period last year to 556 million euros, while the company is expanding production facilities in Brunsbüttel, northern Germany, and plans to produce its MDI (diphenylmethane diisocyanate) annual output by 2018 Doubled to about 400,000 tons, has now completed a cap ceremony to celebrate the completion of the factory building.
The core business volume of the polycarbonate business segment increased by 1.5% from the same period of the previous year and was flat with the growth rate in the second quarter of 2017. The sector's EBITDA rose 8.8% to 211 million euros, mainly due to profit Rate and sales in the main customer industry in the sector, Coase and the designer in close cooperation, the development of future products, and for this in September launched the industrial design online platform.
Core business sales for the coatings, adhesives and specialty chemicals business segments fell 5.0% from a year earlier due to the competitive environment, while EBITDA fell 12.5% to € 119 million in the second quarter. Crossing the limits and constantly updating its product range: Recently, a solar car designed by Aachen University of Technology has participated in the World Solar Vehicle Challenge in the Australian Desert for nearly 3,000 kilometers, and its protective coating is Participate in the offer.
The first nine months of financial performance is very positive
The company's core business grew 3.2% year-on-year due to the healthy growth in market demand, with sales up 19.5% to € 10.6 billion and EBITDA up 57.4% % To 2.6 billion euros. FOCF also increased significantly, rising 23.8% to 1.2 billion euros .In September, Kesi and Bayer signed a control agreement to terminate the agreement, which in a completely independent road and take a solid step.
About Us:
Founded in one of the world's largest polymer production companies, the company has sales of € 11.9 billion in 2016. Its business focus is on the production of high-tech polymer materials and innovative solutions for many everyday areas of life Research and development. The main service industry covers automotive, construction, wood processing and furniture, electrical and electronic, sports and leisure, cosmetics, medical and chemical industry itself. Kesi formerly known as Bayer MaterialScience, as of the end of 2016, Base, about 15,600 employees (by full-time staff).