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Unilever remains on the Path to Growth
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consumer product specialities division recorded a 13.2% decline in turnover to €1.878 bn because of the depreciation of the dollar. The group’s phosphate compounds business registered strong growth in sales in Asia but the division’s other high added value businesses saw their volume of sales fall. The 22.3% increase in earnings before exceptional elements (to €225 M) was due to restructuring in the speciality phosphates sector as well as industrial and commercial success. Rhodia’s cosmetics and detergents business improved its profitability thanks to product improvement.
Kao expects group pretax profit to rise 3% in fiscal 2002
Henkel to grow more strongly than the market
For the year ending Mar 2003, Kao Corp is forecasting a group pretax profit of Yen 117 bn, 3% higher than in fiscal 2002 and Yen 3 bn more than its initial forecast. Group net profit is forecast to grow 6% to Yen 64 bn. Group sales are expected to rise 4% to Yen 870 bn. Kao’s 2002 acquisition of US hair product companies KMS Research and John Frieda is expected to lead to a double-digit-percentage sales rise in the USA, and a 7-8% revenue increase in China is also expected.
Chimie Hebdo, 10 Feb 2003, (202), 9-10 (in French)
Nikkei Net, 25 Feb 2003 (Website: http://www.nni.nikkei.co.jp)
Lion posts fiscal 2002 group net profit of Yen 5.8 bn
2002 results for Reckitt Benckiser
Henkel is sticking to its forecasts and wants to increase its sales by 4% in 2003. Operating profits are to show high single-digit growth and net profits will also rise. In detergents and cleaners, Henkel is looking for sales growth of 2%. The cosmetics/toiletries and adhesives divisions are to both grow 5%. The company wants to grow faster than the market, especially outside Europe. Sales rose 2.6% in 2002 to €9.656 bn, and EBIT rose 10.6% to €666 M. Pretax profits were down 9.5% to €664 M and net profits fell 9.5% to €431 M. R&D costs were up 1.6% at €259 M. In India Henkel SPIC recorded a dreary trend in earnings, posting a 1.4% increase in turnover at Rup 3452.3 M for year ended Dec 2002. Most of the growth comes from a hike in demand for detergents and cleansers, which contributed a turnover of Rup 2216.5 M for 2002 compared to Rup 2148 M in 2001. For 4Q ended Dec 2002, the segment registered revenues of Rup 584.4 M (Rup 528.9 M in $Q 2001). For 2002, the company registered post-tax-earnings of Rup 59.9 M as compared to posttax-earnings of Rup 58.3 M in 2001. The key to record reasonable growth in earnings for Henkel SPIC remains extension of geographical reach and successful product launches.
For the fiscal year ended Dec 2002, Lion Corp posted a group net profit of Yen 5.8 bn, compared with a loss of Yen 13.8 bn in fiscal 2001. Sales volumes of products such as laundry detergents increased. Group sales appeared stable at Yen 308.5 bn, but were actually up by 1.8% when adjusted for the effects of a reduction in shipment prices for household products. Nikkei Net, 14 Feb 2003, (Website: http://www.nni.nikkei.co.jp)
In 2002 the household products group Reckitt Benckiser saw net profit rise by 23% to £408 M on turnover up 10% at £3531 M. In 4Q 2002 alone, net profit rose 14% to £140 M, and turnover rose 6% to £899 M. In 2003 the group now expects a 4-6% rise in turnover and of 10-15% in net profit. The group has reduced its debts from £476 M to £105 M. Chimie Hebdo, 3 Mar 2003, (204), 9 (in French)
Unilever remains on the Path to Growth
Stepan Co reported net earnings for 2002 up 25% to $20.129 M ($16.072 M in 2001) on net sales of $748.539 M ($711.517 M in 2001). Sales volume in North America was relatively flat, as the economy remained weak. Overall weakness in the chemical industry did provide some relief in the form of lower raw material costs. Net income for 4Q 2002 was $2.427 M ($89,000 in 4Q 2001) on net sales up 4% to $185.244 M ($178.064 M in 4Q 2001). Surfactant earnings increased for 2002 on a 6% growth in volume. The majority of the volume growth was realized from the acquired UK business as North American volume declined slightly. Surfactants represented 80% of company revenues for 2002.
Unilever’s recent transformation saw it report its strongest set of annual figures for many moons on 13 Feb 2003. The past three years have seen the Anglo-Dutch consumer products giant shake up its world by embarking on a vast ‘Path to Growth’ restructuring exercise. Last year saw the company achieve sales growth of its leading brands of 5.4%, an operating margin of 14.9% and €7.9 bn of cashflow. At current exchange rates, the group reported a 10% rise in pre-tax profits to €3.97 bn and a 16% increase in net profits to €2.13 bn, on sales down 7% to €48.8 bn. Sales of toiletries were up 7.8% in 2002 at €13.273 bn; sales of household products were down 9.9% at €9.436 bn. Co-chairman Mr FitzGerald has firmly rebutted the possibility of spinning off the group’s home and personal care business.
Stepan 4Q and 2002 results, 12 Feb 2003, (Stepan Co, 22, West Frontage Road, Northfield, IL 60093, USA. Tel: +1 847 446 7500. Fax: +1 847 501 2100. Website: http://www.stepan.com)
The Independent, 14 Feb 2003 (Website: http://www.independent.co.uk) & Handelsblatt Wirtschafts- und Finanzzeitung, 14 Feb 2003, 7 (32), 14 (in German)
Stepan reports higher earnings for 4Q and 2002
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Handelsblatt Wirtschafts- und Finanzzeitung, 6 Mar 2003, 10 (46), 12 (in German) & Business Line, 16 Feb 2003, 10 (46), 8
2002 results: Ciba improves finances and increases market share For 2002 Ciba Specialty Chemicals posted a 6% increase in its net profits to SFR 406 M and operating profits of SFR 788 M (+25% in local currencies and +4% in Swiss Francs). In local currencies the group’s turnover was up by 3%, better than the speciality chemicals market average of 2%. 38% of Ciba Specialty Chemicals’ 2002 turnover came from Europe, 35% from the USA and 23% from Asia. Sales rose by 13% in China in local currencies; China and Taiwan now represent the group’s 3rd largest market after the USA and Germany. The group is planning to make acquisitions. In 2002 all Ciba Specialty Chemicals divisions registered an APRIL 2003
O N
S U R FAC TA N T S
consumer product specialities division recorded a 13.2% decline in turnover to €1.878 bn because of the depreciation of the dollar. The group’s phosphate compounds business registered strong growth in sales in Asia but the division’s other high added value businesses saw their volume of sales fall. The 22.3% increase in earnings before exceptional elements (to €225 M) was due to restructuring in the speciality phosphates sector as well as industrial and commercial success. Rhodia’s cosmetics and detergents business improved its profitability thanks to product improvement.
Kao expects group pretax profit to rise 3% in fiscal 2002
Henkel to grow more strongly than the market
For the year ending Mar 2003, Kao Corp is forecasting a group pretax profit of Yen 117 bn, 3% higher than in fiscal 2002 and Yen 3 bn more than its initial forecast. Group net profit is forecast to grow 6% to Yen 64 bn. Group sales are expected to rise 4% to Yen 870 bn. Kao’s 2002 acquisition of US hair product companies KMS Research and John Frieda is expected to lead to a double-digit-percentage sales rise in the USA, and a 7-8% revenue increase in China is also expected.
Chimie Hebdo, 10 Feb 2003, (202), 9-10 (in French)
Nikkei Net, 25 Feb 2003 (Website: http://www.nni.nikkei.co.jp)
Lion posts fiscal 2002 group net profit of Yen 5.8 bn
2002 results for Reckitt Benckiser
Henkel is sticking to its forecasts and wants to increase its sales by 4% in 2003. Operating profits are to show high single-digit growth and net profits will also rise. In detergents and cleaners, Henkel is looking for sales growth of 2%. The cosmetics/toiletries and adhesives divisions are to both grow 5%. The company wants to grow faster than the market, especially outside Europe. Sales rose 2.6% in 2002 to €9.656 bn, and EBIT rose 10.6% to €666 M. Pretax profits were down 9.5% to €664 M and net profits fell 9.5% to €431 M. R&D costs were up 1.6% at €259 M. In India Henkel SPIC recorded a dreary trend in earnings, posting a 1.4% increase in turnover at Rup 3452.3 M for year ended Dec 2002. Most of the growth comes from a hike in demand for detergents and cleansers, which contributed a turnover of Rup 2216.5 M for 2002 compared to Rup 2148 M in 2001. For 4Q ended Dec 2002, the segment registered revenues of Rup 584.4 M (Rup 528.9 M in $Q 2001). For 2002, the company registered post-tax-earnings of Rup 59.9 M as compared to posttax-earnings of Rup 58.3 M in 2001. The key to record reasonable growth in earnings for Henkel SPIC remains extension of geographical reach and successful product launches.
For the fiscal year ended Dec 2002, Lion Corp posted a group net profit of Yen 5.8 bn, compared with a loss of Yen 13.8 bn in fiscal 2001. Sales volumes of products such as laundry detergents increased. Group sales appeared stable at Yen 308.5 bn, but were actually up by 1.8% when adjusted for the effects of a reduction in shipment prices for household products. Nikkei Net, 14 Feb 2003, (Website: http://www.nni.nikkei.co.jp)
In 2002 the household products group Reckitt Benckiser saw net profit rise by 23% to £408 M on turnover up 10% at £3531 M. In 4Q 2002 alone, net profit rose 14% to £140 M, and turnover rose 6% to £899 M. In 2003 the group now expects a 4-6% rise in turnover and of 10-15% in net profit. The group has reduced its debts from £476 M to £105 M. Chimie Hebdo, 3 Mar 2003, (204), 9 (in French)
Unilever remains on the Path to Growth
Stepan Co reported net earnings for 2002 up 25% to $20.129 M ($16.072 M in 2001) on net sales of $748.539 M ($711.517 M in 2001). Sales volume in North America was relatively flat, as the economy remained weak. Overall weakness in the chemical industry did provide some relief in the form of lower raw material costs. Net income for 4Q 2002 was $2.427 M ($89,000 in 4Q 2001) on net sales up 4% to $185.244 M ($178.064 M in 4Q 2001). Surfactant earnings increased for 2002 on a 6% growth in volume. The majority of the volume growth was realized from the acquired UK business as North American volume declined slightly. Surfactants represented 80% of company revenues for 2002.
Unilever’s recent transformation saw it report its strongest set of annual figures for many moons on 13 Feb 2003. The past three years have seen the Anglo-Dutch consumer products giant shake up its world by embarking on a vast ‘Path to Growth’ restructuring exercise. Last year saw the company achieve sales growth of its leading brands of 5.4%, an operating margin of 14.9% and €7.9 bn of cashflow. At current exchange rates, the group reported a 10% rise in pre-tax profits to €3.97 bn and a 16% increase in net profits to €2.13 bn, on sales down 7% to €48.8 bn. Sales of toiletries were up 7.8% in 2002 at €13.273 bn; sales of household products were down 9.9% at €9.436 bn. Co-chairman Mr FitzGerald has firmly rebutted the possibility of spinning off the group’s home and personal care business.
Stepan 4Q and 2002 results, 12 Feb 2003, (Stepan Co, 22, West Frontage Road, Northfield, IL 60093, USA. Tel: +1 847 446 7500. Fax: +1 847 501 2100. Website: http://www.stepan.com)
The Independent, 14 Feb 2003 (Website: http://www.independent.co.uk) & Handelsblatt Wirtschafts- und Finanzzeitung, 14 Feb 2003, 7 (32), 14 (in German)
Stepan reports higher earnings for 4Q and 2002
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Handelsblatt Wirtschafts- und Finanzzeitung, 6 Mar 2003, 10 (46), 12 (in German) & Business Line, 16 Feb 2003, 10 (46), 8
2002 results: Ciba improves finances and increases market share For 2002 Ciba Specialty Chemicals posted a 6% increase in its net profits to SFR 406 M and operating profits of SFR 788 M (+25% in local currencies and +4% in Swiss Francs). In local currencies the group’s turnover was up by 3%, better than the speciality chemicals market average of 2%. 38% of Ciba Specialty Chemicals’ 2002 turnover came from Europe, 35% from the USA and 23% from Asia. Sales rose by 13% in China in local currencies; China and Taiwan now represent the group’s 3rd largest market after the USA and Germany. The group is planning to make acquisitions. In 2002 all Ciba Specialty Chemicals divisions registered an APRIL 2003