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Henkel 2002 financial results
F O C US Performance Products segment decreased to $36.5 M (EBITDA of $36.7 M in 1Q 2002). Huntsman Companies 1Q 2003 financial results, 28 Apr 2003, (Huntsman Co, 3040, Post Oak Boulevard, Houston, TX 77056, USA, Tel: +1 713 235 6000, Fax: +1 713 235 6416, Website: http://www.huntsman.com)
P&G delivers earnings growth at high end of guidance for 3Q 2002-2003 The Procter & Gamble Co (P&G) announced another quarter of strong volume growth driving double-digit earnings progress during 3Q ended Mar 2003. This is the fifth consecutive quarter of double-digit core net earnings progress and attainment of long-term growth objectives. Unit volume for 3Q 2002-2003 grew 7% over 3Q 2001-2002, behind doubledigit growth in the health care business and continued strong results in Asia and Central and Eastern Europe. Net sales were $10.66 bn for 3Q 2002-2003, up 8% on 3Q 20012002. Sales include a positive 3% impact from foreign exchange, partially offset by pricing investments to stimulate growth and price changes to remain competitive. Net earnings for 3Q 2002-2003 were $1.27 bn (net earnings of $1.04 bn in 3Q 20012002). Beauty care continued its trend of strong business results with a 9% increase in unit volume driven by hair care, including continued strength behind Pantene and Head & Shoulders, and feminine care. Sales grew 10%, including a positive 4% foreign exchange impact, reaching $3.03 bn for 3Q 2002-2003. Fabric and home care delivered strong topline results for 3Q 2002-2003 recording an 8% rise in net sales at $3.06 bn. Net sales of the company’s total business segment were $32,730 M with net earnings of $4642 M for the nine months ended Mar 2003. P&G has also confirmed that earnings for 4Q ended Jun 2003 should be at the high end of the prior guidance range for 4Q. Volume is expected to grow around 4% to 6% for 4Q 2002-2003. Procter & Gamble 3Q and nine months of 2002-2003 results, 28 Apr 2003 & 4Q 2002-2003 updated guidance, 5 Jun 2003 (Available from: The Procter & Gamble Co, 1 or 2, Procter & Gamble Plaza, Cincinnati, OH 45201, USA. Tel: +1 513 983 1100. Website: http://www.pg.com)
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Henkel 2002 financial results For its fiscal 2002, Henkel KGaA has reported turnover of €9656 M (€9410 for its fiscal 2001), operating profit of €666 M (€602 M), net income of €431 M (€476 M), capital expenditure of €494 M (€664 M), and R&D costs of €259 M (€255 M). The Laundry and Home Care division reported sales of €3131 M (€3082 M for its fiscal 2001), EBIT of €268 M (€243 M), capital expenditure of €166 M (€165 M), R&D spending of €65 M (€61 M), and headcount of 13,446 (11,891). Henkel’s total R&D spend of €259 M was allocated as follows: laundry & homecare 24%, cosmetics 13%, adhesives 6%, and technologies 43%. The company submitted 335 patent applications and employed an R&D headcount of about 3000. Henkel Annual Report 2002, 7 Feb 2003, 16-17, 2325 & 50 (Henkel KGaA, D-40191 Düsseldorf, Germany. Tel: +49 211 7970. Website: http://www.henkel.com)
Delay on US bleach plant will cost Clariant dear Significant delays in bringing a new bleach activator unit on stream at its facilities in Charlotte, NC, could result in the loss of Clariant’s customer base for the output. A major detergent manufacturer has already arranged to obtain materials from elsewhere. Technical problems have delayed the plant’s start-up by 12 months and it is now expected to begin production in Jun 2004. The (potential) loss for non-fulfilment of the contract amounts to SFR 155 M at most. A SFR 38 M provision to cover penalties associated with the delay was made by Clariant in 1Q 2003. As a result, there was a 37% drop in operating profits to SFR 113 M. Net profits declined to SFR 2 M. There was an 8% drop in sales to SFR 2.11 bn. In local currencies, operating profit fell 31% and sales rose 4% thanks to an increase in sales by volume. Turnover in 1Q 2003 for functional chemicals, which handles detergent products, was SFR 508 M (-5%). Clariant aims to reduce debts to below SFR 2.5 bn by the end of 2003. European Chemical News, 12 May 2003, 78 (2052), 6 & Neue Zürcher Zeitung, 8 May 2003, 224 (105), 15 (in German)
Novozymes A/S Group financial statement for 1Q 2003 Novozymes A/S Group reported that sales rose by 10% to DKR 1444 M for 1Q 2003 (DKR 1308 M in 1Q 2002). Net profit rose by 42% from DKR 129 M to DKR 183 M for 1Q 2003. Net profit is expected to increase by 10% for 2003 (compared to the previous outlook of 7-8%) due to favourable developments in net financials. During 1Q 2003, sales of all technical enzymes increased by 5%; however, within that sector, sales of detergent enzymes decreased by 1% to DKR 515 M. Sales of food enzymes rose by 9% and sales of feed enzymes by 33%. Novozymes 1Q 2003 financials, 7 May 2003 (Novozymes A/S, Krogshoejvej 36, Bagsvaerd 2880, Denmark. Website: http://www.novozymes.com)
Sequa reports results for 1Q 2003 Diverse industrial company Sequa Corp recorded a net loss of $3.1 M for 1Q 2003, virtually unchanged from the loss posted in 1Q 2002. Its Warwick International Specialty Chemicals segment, which manufactures bleach activators and biocides, reported sales of $47.455 M for 1Q 2003 ($35.781 M in 1Q 2002). The segment results increased 65%, with both the detergent chemicals manufacturing operation and the international marketing units contributing to the advance. Sequa 1Q 2003 financials, 15 May 2003 (Sequa Corp, 200, Park Avenue, New York, NY 10166, USA. Tel: +1 212 986 5500. Fax: +1 212 370 1969. Website: http://www.sequa.com)
Alliance Pharmaceutical Corp announces 3Q 2002-2003 financial results Alliance Pharmaceutical Corp reported a net loss of $5.1 M for 3Q ended Mar 2003 (net loss of $6.2 M in 3Q ended Mar 2002). Revenues were $22,000 for 1Q 2003. Net loss was $22.1 M on revenues of $53,000 for nine months ended Mar 2003. Alliance Pharmaceutical Corp has been developing therapeutic and diagnostic products based on its perfluorochemical and surfactant technologies. Alliance Pharmaceutical 3Q and nine months of 20022003 results, 15 May 2003 (Alliance Pharmaceutical Corp, 3040, Science Park Road, San Diego, CA 92121, USA. Tel: +1 858 410 5200. Fax: +1 858 410 5201. Website: http://www.allp.com)
JULY 2003
P&G delivers earnings growth at high end of guidance for 3Q 2002-2003 The Procter & Gamble Co (P&G) announced another quarter of strong volume growth driving double-digit earnings progress during 3Q ended Mar 2003. This is the fifth consecutive quarter of double-digit core net earnings progress and attainment of long-term growth objectives. Unit volume for 3Q 2002-2003 grew 7% over 3Q 2001-2002, behind doubledigit growth in the health care business and continued strong results in Asia and Central and Eastern Europe. Net sales were $10.66 bn for 3Q 2002-2003, up 8% on 3Q 20012002. Sales include a positive 3% impact from foreign exchange, partially offset by pricing investments to stimulate growth and price changes to remain competitive. Net earnings for 3Q 2002-2003 were $1.27 bn (net earnings of $1.04 bn in 3Q 20012002). Beauty care continued its trend of strong business results with a 9% increase in unit volume driven by hair care, including continued strength behind Pantene and Head & Shoulders, and feminine care. Sales grew 10%, including a positive 4% foreign exchange impact, reaching $3.03 bn for 3Q 2002-2003. Fabric and home care delivered strong topline results for 3Q 2002-2003 recording an 8% rise in net sales at $3.06 bn. Net sales of the company’s total business segment were $32,730 M with net earnings of $4642 M for the nine months ended Mar 2003. P&G has also confirmed that earnings for 4Q ended Jun 2003 should be at the high end of the prior guidance range for 4Q. Volume is expected to grow around 4% to 6% for 4Q 2002-2003. Procter & Gamble 3Q and nine months of 2002-2003 results, 28 Apr 2003 & 4Q 2002-2003 updated guidance, 5 Jun 2003 (Available from: The Procter & Gamble Co, 1 or 2, Procter & Gamble Plaza, Cincinnati, OH 45201, USA. Tel: +1 513 983 1100. Website: http://www.pg.com)
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Henkel 2002 financial results For its fiscal 2002, Henkel KGaA has reported turnover of €9656 M (€9410 for its fiscal 2001), operating profit of €666 M (€602 M), net income of €431 M (€476 M), capital expenditure of €494 M (€664 M), and R&D costs of €259 M (€255 M). The Laundry and Home Care division reported sales of €3131 M (€3082 M for its fiscal 2001), EBIT of €268 M (€243 M), capital expenditure of €166 M (€165 M), R&D spending of €65 M (€61 M), and headcount of 13,446 (11,891). Henkel’s total R&D spend of €259 M was allocated as follows: laundry & homecare 24%, cosmetics 13%, adhesives 6%, and technologies 43%. The company submitted 335 patent applications and employed an R&D headcount of about 3000. Henkel Annual Report 2002, 7 Feb 2003, 16-17, 2325 & 50 (Henkel KGaA, D-40191 Düsseldorf, Germany. Tel: +49 211 7970. Website: http://www.henkel.com)
Delay on US bleach plant will cost Clariant dear Significant delays in bringing a new bleach activator unit on stream at its facilities in Charlotte, NC, could result in the loss of Clariant’s customer base for the output. A major detergent manufacturer has already arranged to obtain materials from elsewhere. Technical problems have delayed the plant’s start-up by 12 months and it is now expected to begin production in Jun 2004. The (potential) loss for non-fulfilment of the contract amounts to SFR 155 M at most. A SFR 38 M provision to cover penalties associated with the delay was made by Clariant in 1Q 2003. As a result, there was a 37% drop in operating profits to SFR 113 M. Net profits declined to SFR 2 M. There was an 8% drop in sales to SFR 2.11 bn. In local currencies, operating profit fell 31% and sales rose 4% thanks to an increase in sales by volume. Turnover in 1Q 2003 for functional chemicals, which handles detergent products, was SFR 508 M (-5%). Clariant aims to reduce debts to below SFR 2.5 bn by the end of 2003. European Chemical News, 12 May 2003, 78 (2052), 6 & Neue Zürcher Zeitung, 8 May 2003, 224 (105), 15 (in German)
Novozymes A/S Group financial statement for 1Q 2003 Novozymes A/S Group reported that sales rose by 10% to DKR 1444 M for 1Q 2003 (DKR 1308 M in 1Q 2002). Net profit rose by 42% from DKR 129 M to DKR 183 M for 1Q 2003. Net profit is expected to increase by 10% for 2003 (compared to the previous outlook of 7-8%) due to favourable developments in net financials. During 1Q 2003, sales of all technical enzymes increased by 5%; however, within that sector, sales of detergent enzymes decreased by 1% to DKR 515 M. Sales of food enzymes rose by 9% and sales of feed enzymes by 33%. Novozymes 1Q 2003 financials, 7 May 2003 (Novozymes A/S, Krogshoejvej 36, Bagsvaerd 2880, Denmark. Website: http://www.novozymes.com)
Sequa reports results for 1Q 2003 Diverse industrial company Sequa Corp recorded a net loss of $3.1 M for 1Q 2003, virtually unchanged from the loss posted in 1Q 2002. Its Warwick International Specialty Chemicals segment, which manufactures bleach activators and biocides, reported sales of $47.455 M for 1Q 2003 ($35.781 M in 1Q 2002). The segment results increased 65%, with both the detergent chemicals manufacturing operation and the international marketing units contributing to the advance. Sequa 1Q 2003 financials, 15 May 2003 (Sequa Corp, 200, Park Avenue, New York, NY 10166, USA. Tel: +1 212 986 5500. Fax: +1 212 370 1969. Website: http://www.sequa.com)
Alliance Pharmaceutical Corp announces 3Q 2002-2003 financial results Alliance Pharmaceutical Corp reported a net loss of $5.1 M for 3Q ended Mar 2003 (net loss of $6.2 M in 3Q ended Mar 2002). Revenues were $22,000 for 1Q 2003. Net loss was $22.1 M on revenues of $53,000 for nine months ended Mar 2003. Alliance Pharmaceutical Corp has been developing therapeutic and diagnostic products based on its perfluorochemical and surfactant technologies. Alliance Pharmaceutical 3Q and nine months of 20022003 results, 15 May 2003 (Alliance Pharmaceutical Corp, 3040, Science Park Road, San Diego, CA 92121, USA. Tel: +1 858 410 5200. Fax: +1 858 410 5201. Website: http://www.allp.com)
JULY 2003