Nordenia: Significantly Grows Revenues and Profits in 2010
The international film and packaging manufacturer Nordenia International AG, Greven, Germany, achieved in 2010 the best result to date in its 44-year corporate history. Fiscal year 2010 was characterized by positive results for the manufacturer of flexible packaging, technical films and product components: sales increased by 14.1 % to approximately 241,300 t (2009: 211,400 t). Revenues increased by 20.8 % year-on-year to 801.5 million EUR (2009: 663.6 million EUR). The adjusted EBITDA (operating result before taxes, financial result, depreciation and other extraordinary expenses and revenues) could be improved by 13.9 % to 105.8 million EUR (2009: 92.9 million EUR). The adjusted EBITDA margin amounted to 13.2 % compared to 14.0 % in the previous fiscal year. Consolidated net income was 21.6 million EUR (2009: 27.5 million Euro).
Positive business momentum continued in the first quarter of 2011. Compared to the first quarter of 2010, sales increased by 7.3 % to 64,400 t while revenues grew by 15.5 % to 221.4 million EUR (Q1 2010: 191.7 million EUR). Adjusted EBITDA fell slightly by 4.5 % to 27.5 million EUR (Q1 2010: 28.8 million EUR) mainly due to higher commodity prices that could not immediately be passed on to clients.
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