Personal care aids Cognis recovery
Despite the current economic downturn, speciality chemicals supplier Cognis has announced its business is slowly recovering, thanks in part to its personal care division.
Despite the current economic downturn, speciality chemicals supplier Cognis has announced its business is slowly recovering, thanks in part to its personal care division.
The group’s personal care and home markets, part of the Care Chemicals division have proved more resilient than most and reported a 7.3% increase in sales volumes for the third quarter, with strong growth in Asia-Pacific and Central and South America.
The overall Care Chemicals division however recorded sales of €1,108m for Q3, a decrease of 14.3% (14% on an organic basis), which has been put down to lower sales volumes in Europe.
Cognis’ overall Q3 results show a 15% fall in total net external sales to €1,957m, however in comparison to Q2 figures its global sales volumes grew by 5.1%. Operating results increased by €6m to €270m, a 2.1% increase on the same period in 2008, while the 2009 third quarter operating result increased by 7.8% to €102m.
“Sales volumes are still relatively low but they continue to move in an upward direction,” commented Cognis ceo, Antonio Trius. “The economic situation has further stabilised and slightly improved our the last months, as global demand and businesses start to recover, although the situation remains volatile.