Sweden. In its 2018 Annual Report, Perstorp released its financial results with profitable growth for the full year, with net sales of $1.55 billion (SEK 14,882), an increase of 9% compared to the same period last year.
As for the reported EBITDA, excluding non-recurring items, it reached an all-time high of USD 233.8 million (SEK 2,244 million), which corresponds to a margin of 15.6%.
On the other hand, in 2019 a new operational model and a new organizational structure were introduced to better meet customer demands in terms of supply reliability and focused innovation. It also signed a new financing agreement that will strengthen the balance sheet and increase its ability to generate cash flow, improving its credit rating of both Moody (B2) and Standard & Poor (B).
Among other significant changes, in 2018 the company was transferred to a new investment fund by its current owners, PAI Partners, backed by Landmark Partners and other co-investors. As part of this agreement, the new investors agreed to commit €130 million to Perstorp to advance the company's growth strategy.
Jan Secher, President and CEO of Perstorp, comments: "Continued and profitable growth is our main breakthrough, we have set ambitious and challenging goals for ourselves, such as overcoming market growth and reaching a new level of sustainable profits after the divestments of Perstorp Bioproducts and Capa. We are building a strong culture that understands both difficult financial performance and softer value that fuels growth."
Source: Perstorp.
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