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Henkel optimistic after good start
FOCUS market for surfactants is Brazil. According to consultancy Frost & Sullivan, Brazil’s anionic surfactants market was estimated at $788 M (€541 M) in 2010, up 5.8% year on year, driven by the personal care sector. The market is expected to grow by more than 5%/y to $1.1 bn by 2017. Another factor behind the price gain is the growing use of agricultural crops for biofuel production. ICIS Chemical Business, 9 May 2011, (Website: http://icischemicalbusiness.com)
Japan’s chemical industry has to recover quickly as upstream supplier Japan’s chemical industry, whose output plunged 11.4% in Mar 2011, is dynamically working to restart production. Its rebound is critical since many companies that make daily necessities, including foodrelated products, rely on the sector for raw material supply. The 11 Mar 2011 earthquake caused a record margin decline of 15.3% month on month in the country’s industrial production index for Mar 2011. Production in quake-affected areas slowed by 32%, but other areas accounted for about 80% of the index’s decline, indicating that the knock-on effects of the calamity on raw material and components supply, combined with the logistics problems that followed, had resonated across Japan’s manufacturing sector. After the quake, production declines were seen across all 13 categories of the chemical industry, from basic chemicals to fine chemicals to end products. The output of petrochemical products markedly plunged 12.4%, above the industry rate, attributable to the high concentration of petrochemical facilities in the quake-hit Keiyo and Kashima complexes. Output of midstream and downstream products was also impacted, with double-digit drops seen for soap, synthetic detergents and surfactants; paints and printing inks; and photosensitive materials. The industrial production index was projected to climb back from the steep decline in Mar 2011 by 3.9% in Apr 2011, and by 2.7% in May 2011. Japan Chemical Web, 9 May 2011, (Website: http://www.japanchemicalweb.jp)
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COMPANY RESULTS Rhodia reports 1Q 2011 results: Consumer Chemicals For its 1Q 2011, the Consumer Chemicals business cluster of Rhodia SA has reported net sales of €585 M (€421 M for its 1Q 2010), with volumes up 16% overall compared to 1Q 2010, and recurring EBITDA of €92 M (€63 M). Consumer Chemicals combines the Novecare, Coatis and Aroma Performance Global Business Units, which all primarily serve consumer products markets. Novecare provides high-performance chemicals to industries in key segments of the beauty/personal care and detergent, agrochemical, oil and gas, coatings and industrial applications sectors; Coatis manufactures and markets phenol and its derivatives as well as oxygenated solvents that serve the paint, surface coating, automotive, lumber and construction markets; and Aroma Performance, a leading producer of diphenols, is a reference supplier for manufacturers of flavourings and aromas. All segments continued to enjoy strong growth in 1Q 2011. Novecare reported 20% year-onyear growth, mostly driven by Oil & Gas and Agro markets and led by robust demand and innovation. Coatis posted volumes up 13% year-on-year, while Aroma Performance’s volumes increased by 5% year-on-year. Feixiang [Focus on Surfactants, Aug 2010] delivered strong growth, with integration progressing well on track. A new surfactant site at Zhuhai currently under construction should become operational in 3Q 2011, expanding capacity by 50,000 tonnes/y. Rhodia Results 1Q 2011, 5 May 2011, 4 (Rhodia SA, Immeuble Coeur Defense, Tour A, 110 esplanade Charles de Gaulle, 92400 Courbevoie, France, tel: +33 1 5356 6464, fax: +33 1 5356 6459, website: http://www.rhodia.com)
Henkel optimistic after good start After a better than expected start to the year, Henkel AG & Co KGaA is more confident regarding growth in sales in 2011. Organic growth in sales will be at the upper end of the 3-5% range forecast. For 1Q 2011
Henkel recorded net income of €290 M (+9% year on year) on sales up 8.9% to €3.8 bn, with growth from all 3 business sectors. The Laundry & Home Care segment reported sales of €1.07 bn, up 2.2% (€1.05 bn for 1Q 2010) with volume growth of 4.8% partially offset by a downturn in prices. Operating profit of €100 M was down from €151 M in 1Q 2010 largely due to restructuring charges incurred for further production site optimization. Sales by the cosmetics and toiletries division were up 7.7% in 1Q 2011 to €821 M, thanks to a range of new products. Double-digit growth rates were recorded in east Europe, Latin America and Asia. The division’s operating profit rose 12.6% to €112 M. Nachrichten für Aussenhandel, 5 May 2011, (Website: http://www.nfa-online.de) (in German) & press release from: Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Düsseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com (5 May 2011)
Novozymes Inc solid 1Q 2011 sales, earnings and cash flow Novozymes Inc reported net sales of DKR 2.69 bn (€361 M) for 1Q 2011, representing growth of 16% in DKR and 14% in local currencies versus 1Q 2010. EBIT grew a strong 19% to DKR 635 M, taking the EBIT margin to 23.6% (23% in 1Q 2010), while net profit grew 21% year on year to DKR 492 M. The company says it saw good underlying demand across most industries and all geographies, and the integration of its recent BioAg acquisition is well under way. Enzyme business sales in 1Q 2011 were up by 11% compared to 1Q 2010 to DKR 2.39 bn. Sales of household care enzymes at DKR 830 M were up 13% compared to 1Q 2010 (DKR 734 M) and were one of the strongest growth contributors in the period. Novozymes says that the strong growth was driven by increased use of enzymes across detergent tiers to enhance wash performance, enable low-temperature washing and replace traditional chemicals in detergent formulations. Also sales of these enzymes to the emerging markets were a particularly strong growth driver in the period. Press release from: Novozymes A/S, Krogshoejvej 36, 2880 Bagsvaerd, Denmark, tel: +45 4446 0000, fax: +45 4446 9999, website: http://www.novozymes.com (29 Apr 2011)
JULY 2011
Japan’s chemical industry has to recover quickly as upstream supplier Japan’s chemical industry, whose output plunged 11.4% in Mar 2011, is dynamically working to restart production. Its rebound is critical since many companies that make daily necessities, including foodrelated products, rely on the sector for raw material supply. The 11 Mar 2011 earthquake caused a record margin decline of 15.3% month on month in the country’s industrial production index for Mar 2011. Production in quake-affected areas slowed by 32%, but other areas accounted for about 80% of the index’s decline, indicating that the knock-on effects of the calamity on raw material and components supply, combined with the logistics problems that followed, had resonated across Japan’s manufacturing sector. After the quake, production declines were seen across all 13 categories of the chemical industry, from basic chemicals to fine chemicals to end products. The output of petrochemical products markedly plunged 12.4%, above the industry rate, attributable to the high concentration of petrochemical facilities in the quake-hit Keiyo and Kashima complexes. Output of midstream and downstream products was also impacted, with double-digit drops seen for soap, synthetic detergents and surfactants; paints and printing inks; and photosensitive materials. The industrial production index was projected to climb back from the steep decline in Mar 2011 by 3.9% in Apr 2011, and by 2.7% in May 2011. Japan Chemical Web, 9 May 2011, (Website: http://www.japanchemicalweb.jp)
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COMPANY RESULTS Rhodia reports 1Q 2011 results: Consumer Chemicals For its 1Q 2011, the Consumer Chemicals business cluster of Rhodia SA has reported net sales of €585 M (€421 M for its 1Q 2010), with volumes up 16% overall compared to 1Q 2010, and recurring EBITDA of €92 M (€63 M). Consumer Chemicals combines the Novecare, Coatis and Aroma Performance Global Business Units, which all primarily serve consumer products markets. Novecare provides high-performance chemicals to industries in key segments of the beauty/personal care and detergent, agrochemical, oil and gas, coatings and industrial applications sectors; Coatis manufactures and markets phenol and its derivatives as well as oxygenated solvents that serve the paint, surface coating, automotive, lumber and construction markets; and Aroma Performance, a leading producer of diphenols, is a reference supplier for manufacturers of flavourings and aromas. All segments continued to enjoy strong growth in 1Q 2011. Novecare reported 20% year-onyear growth, mostly driven by Oil & Gas and Agro markets and led by robust demand and innovation. Coatis posted volumes up 13% year-on-year, while Aroma Performance’s volumes increased by 5% year-on-year. Feixiang [Focus on Surfactants, Aug 2010] delivered strong growth, with integration progressing well on track. A new surfactant site at Zhuhai currently under construction should become operational in 3Q 2011, expanding capacity by 50,000 tonnes/y. Rhodia Results 1Q 2011, 5 May 2011, 4 (Rhodia SA, Immeuble Coeur Defense, Tour A, 110 esplanade Charles de Gaulle, 92400 Courbevoie, France, tel: +33 1 5356 6464, fax: +33 1 5356 6459, website: http://www.rhodia.com)
Henkel optimistic after good start After a better than expected start to the year, Henkel AG & Co KGaA is more confident regarding growth in sales in 2011. Organic growth in sales will be at the upper end of the 3-5% range forecast. For 1Q 2011
Henkel recorded net income of €290 M (+9% year on year) on sales up 8.9% to €3.8 bn, with growth from all 3 business sectors. The Laundry & Home Care segment reported sales of €1.07 bn, up 2.2% (€1.05 bn for 1Q 2010) with volume growth of 4.8% partially offset by a downturn in prices. Operating profit of €100 M was down from €151 M in 1Q 2010 largely due to restructuring charges incurred for further production site optimization. Sales by the cosmetics and toiletries division were up 7.7% in 1Q 2011 to €821 M, thanks to a range of new products. Double-digit growth rates were recorded in east Europe, Latin America and Asia. The division’s operating profit rose 12.6% to €112 M. Nachrichten für Aussenhandel, 5 May 2011, (Website: http://www.nfa-online.de) (in German) & press release from: Henkel AG & Co KGaA, Henkelstrasse 67, 40589 Düsseldorf, Germany, tel: +49 211 7970, fax: +49 211 798 4008, website: http://www.henkel.com (5 May 2011)
Novozymes Inc solid 1Q 2011 sales, earnings and cash flow Novozymes Inc reported net sales of DKR 2.69 bn (€361 M) for 1Q 2011, representing growth of 16% in DKR and 14% in local currencies versus 1Q 2010. EBIT grew a strong 19% to DKR 635 M, taking the EBIT margin to 23.6% (23% in 1Q 2010), while net profit grew 21% year on year to DKR 492 M. The company says it saw good underlying demand across most industries and all geographies, and the integration of its recent BioAg acquisition is well under way. Enzyme business sales in 1Q 2011 were up by 11% compared to 1Q 2010 to DKR 2.39 bn. Sales of household care enzymes at DKR 830 M were up 13% compared to 1Q 2010 (DKR 734 M) and were one of the strongest growth contributors in the period. Novozymes says that the strong growth was driven by increased use of enzymes across detergent tiers to enhance wash performance, enable low-temperature washing and replace traditional chemicals in detergent formulations. Also sales of these enzymes to the emerging markets were a particularly strong growth driver in the period. Press release from: Novozymes A/S, Krogshoejvej 36, 2880 Bagsvaerd, Denmark, tel: +45 4446 0000, fax: +45 4446 9999, website: http://www.novozymes.com (29 Apr 2011)
JULY 2011