Cognis first quarter results 2009

摘要

IN the first three months of 2009, in what was an extremely difficult market environment, global specialty chemicals supplier Cognis saw its sales volumes decline by about 18 percent in comparison to the first quarter of 2008. Compared with the fourth quarter of last year, volumes actually increased by 5 percent, driven by growth in North America and Asia. Lower volumes were partially offset by increased selling prices, and as a result, the total net external sales figure of 659 million euros represents a fall of 13.8 percent compared to the first quarter of 2008. On an organic basis (excluding foreign currency effects and the effects of acquisitions and divestments), sales fell by 13.9 percent. These falls were largely attributable to lower demand and destocking by Cognis" customers, especially in Europe (down 23.5 percent).