Tessenderlo: First Quarter Results
Tessenderlo Group, Brussels, Belgium, announced that its first quarter 2011 revenue increased 18.3 % to 670.9 million EUR, with all but one of the group’s reported segments recording double digit revenue growth. Rebit for the first quarter was materially higher than a year ago, at 39.4 million EUR, while Rebitda of 65.8 million EUR was more than double last year’s amount. Profit for the period was strong at 30.1 million EUR. Group net financial debt decreased to 176.8 million EUR at March 31, 2011, versus 241.2 million EUR at March 31, 2010. Taking into account non-recourse factoring, the notional net debt would amount to 304.4 million EUR at March 31, 2011, compared to 350.6 million EUR at March 31, 2010
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