ERJ staff report (RD)
Paris -- Rhodia Silcea, a silica and diphenol subsidiary of the French company Rhodia, has reported sales of Euro 177 million for the fourth quarter of 2009 (Q4), up from Euro 163 million in the same period of 2008, a 24 Feb company statement said.
Silcea reported sequential volume recovery in Q4 due to an â€œimproved business trend in all segments.â€ Earnings in the silica subsidiary were up to Euro 35 million form Euro 14 million in Q4 2008 and volumes increased 19 percent compared to the same period in 2008, Rhodia said.
For the full financial year, Silcea reported sales down to Euro 635 million form Euro 777 million with a 19 percent drop in volumes across all segments compared to 2008. The first half was marked by global crisis in the automotive and electronics market where de-stocking persisted, Rhodia said, adding that volumes began to recover during the second half of the year as demand in emerging markets increased.
â€œLooking ahead, Silcea should continue to benefit from sustained demand momentum from the auto-emission control and low-energy tyre markets,â€ the statement said.
Silcea produces silica for the tyre and automotive industries and diphenols for flavours and fragrances markets.
Rhodia's overall sales were down 5.2 percent to Euro 1083 million in Q4, compared to the same period in 2008, and down 18 percent for the full year to Euro 4031 million, the staement said.
â€œWe ended 2009 with record operating profitability in the last quarter and significantly reduced debt resulting from a high level of free cash flow,â€ said Rhodia ceo, Jean-Pierre Clamadieu. â€œGlobal economic conditions have improved but growth in Europe remains uncertain,â€ he said, adding that the company will focus on operational discipline and cash generation â€œwhile aiming at a significant improvement in our profitability.â€
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Press release from Rhodia