RadiciGroup Posts Strong Results
Posted by Machines Italia | 18 Mar 2011
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Italian chemical group closed the year 2010 with consolidated sales revenue of EUR 1,162 million, +50% compared to 2009, and a Gross operating margin of EUR 140 million (+185%).
“The Group’s performance in 2010 was really outstanding” - RadiciGroup Chairman Angelo Radici said. “Our sales grew over 60% in the chemicals sector and almost 80% in plastics. Even fibres sales rose by 38%. In spite of the unfavourable raw materials environment in which prices continued to climb during 2010, our margins improved. At the world level we experienced a recovery in demand, and in our key businesses we either maintained or increased our market share. In Europe, our most important sales region, we managed to grow by benefiting, on one hand, from a greater imbalance in supply and demand on account of a number of restructurings in the chemicals and fibres industries and, on the other, from an increase in demand. Sales also increased in Asia and in the Americas, particularly North America, where we strengthened our position thanks to the acquisition of American compounder Michael Day in January 2010.”
“In the course of the years we have maintained a constant level of commitment focusing on our strategic businesses,” continued Radici. “To contend with the difficult two-year period 2008 - 2009, we had to expend extra effort and make choices that were often not easy: from the closing of some businesses, considered to be less strategic and less integrated with respect to our core businesses, to the reorganization of production sites, in some cases resorting to the use of ordinary and extraordinary layoffs and mobility, according to the law.”
