Dynaction: Quarterly Financial Information As of March 31st, 2012
Longjumeau, April 23rd, 2012
Business update
(in million of euros) | 2012 | 2011 | % change |
Sales as of 31 March | 42 728 | 44 053 | -3,0% |
including Pharmaceutical Synthesis | 25 454 | 27 147 | -6,2% |
including Specialty Chemicals | 17 274 | 16 906 | 2,2% |
Consolidated revenue for Dynaction as of 31 March is down 3% in 2012 compared with 2011.
Pharma Synthesis
Business was affected by the planned reduction in contribution from the new contract between PCAS and Sanofi. However, it is still more robust than the drop in revenue would suggest, thanks to the manufacture of two products with long production cycles, sales of which will be effective through the second quarter of 2012.
Fine & Speciality Chemicals
Fine & Speciality Chemicals rose slightly by 2.2% in 2012, thanks to the activities of New Technologies whereas, Performance Chemicals and Fragrance-Flavour-Cosmetics are down slightly over the period.
However, these data should not hide the fact that 2012 revenue is still set to be considerably higher than that of 2011.
Confirmation of the Group's development strategy focused on the increase of the percentage of proprietary products and the development of differentiating technologies, coupled with continued rigorous management of all costs, is resulting as from the first quarter of 2012 in significantly higher profitability.
Key operations and events for the quarter
Following sales of Dynaction and PCAS's stocks in January and February 2012, Dynaction repaid its medium-term loan in full in April 2012.
No other important events likely to have a significant impact on the company's business or situation occurred during the first quarter of 2012.
Outlook for the current year
As requested by the Board of Directors, the Group's General Management is focusing its action on ensuring sustained improvement in profitability.
Next meeting:
2012 first half sales, on 26 July 2012
About Dynaction :
Dynaction is an industrial holding company focused on a unique development pole: Fine Speciality Chemicals, a field of its subsidiary PCAS and in which it holds a majority share of 61.09 %.
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Source: DYNACTION via Thomson Reuters ONE