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BorsodChem had Ft 177.3 bln Q3 sales revenue

Q3 sales revenues however lag behind the performance of the previous quarter, which is primarily due to the scheduled maintenance shutdown executed in the quarter.

BorsodChem Group’s sales revenue in Q1-3 2006 was Ft 177.3 billion or 38.1% up compared to the base partly due to expanded capacities and partly due to exchange rates supporting export and basically favorable market tendencies. Operating profit was in the neighborhood of Ft 14.8 billion or 13.5% up compared to the base. EBIT margin is 8.3%. The shutdown reduced specific margins according to expectations. Primary operational cash flow (EBITDA) shows a 24.4% increase relative to the base, nearing Ft 26.6 billion.

EBITDA margin is 15.0 %, a value in line with industrial sector average. Net income after minority interest amounts to Ft 4.6 billion, which is 45.1% of the base figure. The reason for the decrease thereof is attributed to the significant translation loss booked on foreign currency loans due to the weakening of forint (Ft 4.9 billion). As part of the completion of the previous three-year CAPEX cycle, the Company has spent Ft 20.7 billion on the procurement of tangible assets. (